REG - Seplat Energy PLC - Response to Media Speculation

Seplat EnergyAnnouncement

07/03/2022 16:45

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RNS Number : 9158D  Seplat Energy PLC  07 March 2022

 

 

 

 

 

 

 

 

Seplat Energy Plc ("Seplat Energy" or the "Company")

Re: Newspaper and Social Media Publications on Seplat Energy and ExxonMobil
Transaction - No Event of Cancellation has occurred

Lagos and London - 7 March 2022: Seplat Energy has become aware of newspaper
and social media reports that the Nigerian National Petroleum Company Limited
("NNPC") has exercised a right of pre-emption under the NNPC/Mobil Producing
Nigeria Unlimited ("MPNU") Joint Operating Agreement ("JOA").  The Company
wishes to clarify that the Sale and Purchase Agreement ("SPA"), earlier
announced on the 25 February 2022, deals with the acquisition of the entire
share capital of MPNU's shareholders, Mobil Development Nigeria Inc. and Mobil
Exploration Nigeria Inc., being entities of Exxon Mobil Corporation registered
in Delaware ("ExxonMobil"). MPNU, is not a party to the SPA and continues to
hold its interests, rights and obligations under the NNPC/MPNU JOA.

There are also some reports that the SPA between ExxonMobil and Seplat Energy
has been terminated. Seplat Energy confirms that no event of termination has
occurred, and the SPA remains valid and subsisting.

Seplat Energy is a compliant company and will continue to follow the laws of
the Federal Republic of Nigeria.

 

This announcement is made pursuant to Rule 17.10 of the Rulebook of the
Nigerian Exchange, 2015 (Issuer's Rule).

 

-  ENDS -

For: Seplat Energy Plc

 

 

Mr. Emeka Onwuka

Chief Financial Officer

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