Kibo Energy postpones deadline for SEPCOIII strategic development agreement

Kibo Energy PLC (Kibo) the multi-asset, Africa focused energy company, announces that further to the announcement dated 3 December 2018, the Board of Kibo has elected to extend the deadline for the final confirmation of the strategic development agreement (SDA) with SEPCOIII (announced 3 July 2018), for a further four months to 30 March 2019. It has been agreed that this is a period of non-exclusivity during which Kibo can enter into discussions with alternative interested parties. The company's relationship with SEPCOIII remains a strong and positive working relationship as is reflected in their continued close co-operation to finalise the SDA referred to above and on the development of the Mbeya Coal to Power Project, where the parties have amongst others signed a joint development agreement and EPC contract. The company looks forward to updating the market further in this regard in due course.