Scirocco Energy PLC Extension of Ruvuma Licence (0338J)
18 Agosto 2021 - 4:00AM
UK Regulatory
TIDMSCIR
RNS Number : 0338J
Scirocco Energy PLC
18 August 2021
18 August 2021
Scirocco Energy plc
("Scirocco Energy" of "the Company")
Extension of Ruvuma Licence
Scirocco Energy (AIM: SCIR), the AIM investing company targeting
attractive assets within the European sustainable energy and
circular economy markets, is pleased to report the Ruvuma joint
venture has received an extension to its licence under the Ruvuma
PSA from the Ministry of Energy of Tanzania. Scirocco holds a 25%
working interest in the Ruvuma Licence.
The operator, ARA Petroleum Tanzania Limited ("APT") secured the
extension, which is valid for two years from 15 August 2021, and
allows for the completion of the following:
-- Acquisition of 200 square kilometres (surface coverage) of 3D seismic data
-- Drilling of the Chikumbi-1 well
-- Conclusion of negotiations of the Gas Terms for the Ruvuma PSA.
As announced by the Company on 1 July, tendering for the
acquisition of 3D seismic has been completed and APT awaits
approval from the Tanzanian authorities for the issue of the
seismic acquisition contract. It is still expected that acquisition
will commence in the third quarter of 2021. Drilling of the
Chikumbi-1 exploration and appraisal well is expected to commence
early in the third quarter of 2022.
As also previously announced, following technical work by APT
earlier this year, their revised mapping and internal management
estimates suggest a mean risked gas in place ("GIIP") for the
Ntorya accumulation of 3,024 Bcf, in multiple lobes to be tested
and a mean risked recoverable gas resource of 1,990 Bcf, which will
be appraised by the planned seismic and drilling programme.
Commenting on the update, Tom Reynolds, CEO of Scirocco,
said:
"This is a very positive update for the Ruvuma JV partners as
the licence extension adds significantly more clarity to the
project going forward. It also reflects the quality of the Operator
and its status in country which is critical for the future success
of the project. Most importantly for Scirocco, it provides clarity
of licence tenure to potential acquirers within our ongoing
discussions regarding the sale of Scirocco's interest in Ruvuma.
With a clear licence position, work programme and associated
timeline, we are able to present a well-defined pathway to
development to prospective purchasers. We look forward to
progressing those discussions and providing updates to the market
as appropriate."
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
James Spinney / Ritchie Balmer / 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 / James Husband 5000
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCGIGDIIUBDGBI
(END) Dow Jones Newswires
August 18, 2021 05:00 ET (09:00 GMT)
Scirocco Energy (LSE:SCIR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Scirocco Energy (LSE:SCIR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024