Scirocco Energy PLC - Leeds, England-based oil & gas investment company - Receives written confirmation from the Tanzania Petroleum Development Corporation that it is not exercising its statutory right of first refusal regarding its divestment of its 25% interest in the Ruvuma asset.
Scirocco Chief Executive Officer Tom Reynolds says: "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."
Says it maintains an active dialogue with ARA Petrolem Tanzania Ltd on its intention to exercise its pre-emption right. In July, Scirocco confirmed that TPDC, the national oil company of Tanzania, had indicated that it is considering exercising its statutory right of first refusal in relation to the sale.
Current stock price: 0.26 pence, up 5.0%
12-month change: 70%
By Xindi Wei; xindiwei@alliancenews.com
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