REG - Scirocco Energy PLC - Ruvuma Disposal Update

Scirocco EnergyAnnouncement

19/08/2022 12:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220819:nRSS6435Wa&default-theme=true

RNS Number : 6435W  Scirocco Energy PLC  19 August 2022

19 August 2022

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Ruvuma Disposal Update

Scirocco Energy (AIM: SCIR), the AIM investing company targeting
attractive assets within the European sustainable energy and circular economy
markets, notes that further to its announcement on 1 August 2022, the Company
has now received written confirmation from the Tanzania Petroleum Development
Corporation ("TPDC") that it is not exercising its statutory right of first
refusal with respect to the Company's divestment of its 25% interest in the
Ruvuma asset.

The Company maintains an active dialogue with ARA Petroleum Tanzania Limited
(APT) on its intention to exercise its pre-emption right and will update the
market shortly.

Tom Reynolds, Scirocco's CEO commented:

"We thank TPDC for their constructive engagement throughout the process and we
look forward to making further progress towards completing the transaction as
discussions with APT continue in a similarly constructive manner. We will
provide further updates in due course"

 

For further information:

 Scirocco Energy plc                            +44 (0) 20 7466 5000

 Tom Reynolds, CEO

 Doug Rycroft, COO

 Strand Hanson Limited, Nominated Adviser       +44 (0) 20 7409 3494

 Ritchie Balmer / James Spinney / Rory Murphy

 WH Ireland Limited, Broker                     +44 (0) 207 220 1666

 Harry Ansell / Katy Mitchell

 Buchanan, Financial PR                         +44 (0) 20 7466 5000

 Ben Romney / Jon Krinks

 

Inside Information

The information contained within this announcement is deemed by Scirocco to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) no. 596/2014 ("MAR"). On the publication of this announcement via
a Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISBKCBQKBKDBFD