Kibo Energy PLC (Kibo) the multi-asset, Africa focused energy company, has provided an update regarding the strategic development agreement signed with China-based SEPCOIII (SEPCOIII) involving equity investment in the company by SEPCOIII. Further to the announcement dated 1 October 2018, in which a mutual decision to extend the deadline for an investment decision was announced, SEPCOIII has now requested a further extension.
The Board of Kibo intends to consider SEPCOIII's request at a Board meeting to be held this week and determine the terms which would be acceptable to the company for such an extension, taking into consideration the recent strong interest received by the company from other entities expressing their desire to participate in the development of Kibo's portfolio of energy projects.
