Seplat Energy Plc (“Seplat Energy” or the “Company”)
Subject: Newspaper and social media publications on Seplat Energy and ExxonMobil
Transaction – No cancellation event occurred
Lagos and London – March 7, 2022: Seplat Energy is aware of newspaper and social media reports that the Nigerian National Petroleum Company Limited (“NNPC”) has exercised a right of first refusal under the NNPC/Mobil Producing Nigeria Unlimited joint operating agreement ( “MPNU”) (“JOA”). The Company wishes to clarify that the Sale and Purchase Agreement (“SPA”), previously announced on February 25, 2022, relates to the acquisition of the entire share capital of the shareholders of MPNU, 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 have its interests, rights and obligations under the NNPC/MPNU JOA.
Some reports also indicate that the SPA between ExxonMobil and Seplat Energy has been terminated. Seplat Energy confirms that no case of termination has occurred and that the SPA remains valid and in force.
Seplat Energy is a compliant company and will continue to abide by the laws of the Federal Republic of Nigeria.
This announcement is made pursuant to Rule 17.10 of the Nigerian Stock Exchange Regulations, 2015 (Issuer Rule).
– ENDS –
For: Seplat Energy Plc
Mr Emeka Onwuka
Seplat Energy plc published this content on March 07, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Mar 07, 2022 4:39:02 PM UTC.