Scirocco Energy PLC Ruvuma Disposal Update (6435W)

TIDMSCIR

RNS Number : 6435W

Scirocco Energy PLC

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

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