Scirocco Energy PLC Payment of Kiliwani North Gas Receivables Update (8042S)

TIDMSCIR

RNS Number : 8042S

Scirocco Energy PLC

18 November 2021

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Payment of Kiliwani North Gas Receivables Further Update

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, announces that, further to its announcement on 15 October 2021 in which it noted that the Joint Venture had reached an agreement with the Tanzania Petroleum Development Corporation ("TPDC") for the payment of outstanding monies owed for past gas sales to the TPDC, that the operator, Aminex plc, has now received full payment from the TPDC pursuant to the agreement with the TPDC.

As previously announced, Scirocco Energy shall receive US$0.15 million for its share of the gas sales net of remittance of indirect taxes and export duties.

Tom Reynolds, Chief Executive Officer, commented:

"We are delighted that resolution of this longstanding issue has been reached and payments have been received. We thank TPDC for their efforts in bringing this to a mutually beneficially conclusion."

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European (Withdrawal) Act 2018.

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 / James Husband           +44 (0) 20 7466 5000

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