Scirocco Energy plc chief operating officer Doug Rycroft has stepped down from his position following the company’s completed sale of its Ruvuma gas interest in Tanzania. Chief executive Tom Reynolds said: “As a secondee from Gneiss Energy, which assisted us with the disposal of Ruvuma, Doug has played a critical role in managing Scirocco’s interest […]
Tag: Scirocco Energy plc
Scirocco completes sale of 25% legacy interest in Ruvuma
Scirocco Energy plc has completed the sale of its 25% legacy interest in the Ruvuma onshore gas project in Tanzania. The company said that purchaser ARA Petroleum Tanzania had paid the balance of $2.54 million. Future contingent payments will depend on Ruvuma’s development. The investment was originally made by Solo Oil plc, from which Scirocco […]
Scirocco receives approval to sell Ruvuma interest
Scirocco Energy plc has received approval from the Tanzanian Minister of Energy to its 25% interest in the Ruvuma gas asset. With all conditions precedent now satisfied, Scirocco and purchaser ARA Petroleum Tanzania aim to complete the transaction in the coming weeks.
Scirocco agrees further time to complete Ruvuma sale
Scirocco Energy plc has amended the deadline, from 30 September to 20 October 2023, to complete the sale of its Ruvuma gas interest to ARA Petroleum Tanzania (APT). PRUDENT The company said that “significant” progress had been made and that it was awaiting final approval from the Tanzanian Minister for Energy to satisfy all conditions […]
Scirocco secures more time to sell Ruvuma interest
Scirocco Energy plc has secured an extension to the long stop date for the sale of its 25% interest in the Ruvuma gas project in Tanzania. CONDITIONS PRECEDENT The company and purchaser ARA Petroleum Tanzania (APT) agreed to amend the date of the proposed $16 million transaction from 31 August 2023 to 30 September 2023. […]
Scirocco receives tax clearance to sell Ruvuma interest
Scirocco Energy today received tax clearance after paying £150,000 tax for the sale of its 25% interest in the Ruvuma gas production sharing agreement in Tanzania. CONTINGENCY PAYMENTS The company will now write to the country’s Minister for Energy to obtain final approval of the transfer of the licence interest to purchaser ARA Petroleum Tanzania […]