REG - Scirocco Energy PLC - Tanzania Operations Update

Scirocco EnergyAnnouncement

01/08/2022 07:00

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RNS Number : 3504U  Scirocco Energy PLC  01 August 2022

1  August 2022

Scirocco Energy plc

("Scirocco" or the "Company")

Tanzania Operations Update

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive
assets within the European sustainable energy and circular economy markets,
provides the following operations update on the Ruvuma PSA in Tanzania.

·    APT has received the first batch of field seismic data last week and
expects to have processed and interpreted sufficient data to confirm the final
drilling location of the Chikumbi-1 ("CH-1") well before the end of August.
Field acquisition continues to complete the 338km2 3D seismic programme.

·    APT continues to advance the planning and prepare the final programme
for the CH-1 well and reports that the Operator continues to plan and prepare
for the drilling of the well in due course.

Further to the Company's announcement on 12 July 2022, the Company is in
active discussions with TPDC on its position regarding TPDC's statutory right
of first refusal with respect to the Company's divestment of its 25% interest
in the Ruvuma asset. The  Company is also maintaining a dialogue with ARA
Petroleum Tanzania Limited on its intention to exercise its pre-emption right
and will update the market in due course with regard to the status of the
respective discussions.

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 / Robert Collins

 WH Ireland Limited, Broker                        +44 (0) 0207 220 1666

 Harry Ansell / Katy Mitchell

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

 Ben Romney / Jon Krinks

The person responsible for arranging for the release of this announcement on
behalf of the Company is Tom Reynolds. This announcement is not for
publication or distribution, directly or indirectly, in or into the United
States of America.  This announcement is not an offer of securities for sale
into the United States.  The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933 (the "Securities
Act"), or with any securities regulatory authority of any state or other
jurisdiction of the United States.  The securities may not be offered or sold
in the United States, except pursuant to an applicable exemption from or in a
transaction not subject to the registration requirements of the Securities Act
and in compliance with any applicable securities laws of any state or other
jurisdiction of the United States.  No public offering of the securities is
being made in the United States.

 

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