Seplat Energy PLC Response to Media Speculation (9158D)
07 Marzo 2022 - 10:36AM
UK Regulatory
TIDMSEPL
RNS Number : 9158D
Seplat Energy PLC
07 March 2022
Seplat Energy Plc ("Seplat Energy" or the "Company")
Re: Newspaper and Social Media Publications on Seplat Energy and
ExxonMobil Transaction - No Event of Cancellation has occurred
Lagos and London - 7 March 2022: Seplat Energy has become aware
of newspaper and social media reports that the Nigerian National
Petroleum Company Limited ("NNPC") has exercised a right of
pre-emption under the NNPC/Mobil Producing Nigeria Unlimited
("MPNU") Joint Operating Agreement ("JOA"). The Company wishes to
clarify that the Sale and Purchase Agreement ("SPA"), earlier
announced on the 25 February 2022, deals with the acquisition of
the entire share capital of MPNU's shareholders, Mobil Development
Nigeria Inc. and Mobil Exploration Nigeria Inc., being entities of
Exxon Mobil Corporation registered in Delaware ("ExxonMobil").
MPNU, is not a party to the SPA and continues to hold its
interests, rights and obligations under the NNPC/MPNU JOA.
There are also some reports that the SPA between ExxonMobil and
Seplat Energy has been terminated. Seplat Energy confirms that no
event of termination has occurred, and the SPA remains valid and
subsisting.
Seplat Energy is a compliant company and will continue to follow
the laws of the Federal Republic of Nigeria.
This announcement is made pursuant to Rule 17.10 of the Rulebook
of the Nigerian Exchange, 2015 (Issuer's Rule).
- ENDS -
For: Seplat Energy Plc
Mr. Emeka Onwuka
Chief Financial Officer
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END
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March 07, 2022 11:36 ET (16:36 GMT)
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