Scirocco Energy PLC Tanzania Operations Update (3504U)

TIDMSCIR

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 
  Tom Reynolds, CEO                            +44 (0) 20 7466 
  Doug Rycroft, COO                             5000 
 
   Strand Hanson Limited, Nominated Adviser 
   Ritchie Balmer / James Spinney / Robert       +44 (0) 20 7409 
   Collins                                       3494 
 
   WH Ireland Limited, Broker                    +44 (0) 0207 220 
   Harry Ansell / Katy Mitchell                  1666 
 
   Buchanan, Financial PR                        +44 (0) 20 7466 
   Ben Romney / Jon Krinks                       5000

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 This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America.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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