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. […]
Tag: Tanzania
Scirocco expects to sell Ruvuma interest during Q1 2023
Scirocco Energy plc said it now expected to sell during the first quarter of 2023 its 25% share of the Ruvuma gas asset in Tanzania. CLEARANCE The company agreed to sell its asset to ARA Petroleum Tanzania (APT), with a view to completing the transaction during December 2022. Scirocco today said that the Tanzanian fair […]
Scirocco to sell Ruvuma interest for up to $16m
Scirocco Energy plc has agreed to sell its 25% non-operated interest in the Ruvuma gas asset in Tanzania for up to US$16 million to Wentworth Resources plc. TERMS The company owns a legacy 25% working interest in the project for which ARA Petroleum Tanzania (APT) is the operator. The conditional binding agreement, subject to shareholder […]
Power Metal fails to find economic results at Haneti
Power Metal Resources plc said that drilling results had failed to show economically significant intersections of nickel, copper, gold and platinum group elements (PGE) at the company’s Haneti project in central Tanzania. INTERESTS The company now plans advanced targeting and re-engagement with potential partners. The Haneti project is a joint venture between Power Metal (35%) and operator […]
Helium One appoints Nigel Friend as NED
Helium One Global Ltd has appointed Nigel Friend to the board as a non-executive director with immediate effect. Mr Friend has more than 35 years’ experience in the oil and gas industry and corporate finance. Over his career he has developed extensive expertise in successfully growing companies through a clear focus on cash generation. As […]
Helium One seismic identifies new areas of interest
Helium One Global Ltd said its phase II seismic data had identified multiple areas of interest with potential new closures at its Rukwa project in Tanzania. 2D SEISMIC The company added that the potential closures were at both the Lake Bed and Karoo Group levels. Previous 2D seismic did not cover the area surveyed meaning […]