19 Aug 2022 12:00
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 Tom Reynolds, CEO Doug Rycroft, COO | +44 (0) 20 7466 5000 |
Strand Hanson Limited, Nominated Adviser Ritchie Balmer / James Spinney / Rory Murphy |
+44 (0) 20 7409 3494
|
WH Ireland Limited, Broker Harry Ansell / Katy Mitchell |
+44 (0) 207 220 1666
|
Buchanan, Financial PR Ben Romney / Jon Krinks |
+44 (0) 20 7466 5000 |
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.