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
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