SCS has received the Preliminary Closing Payment from SAPETRO to cover half of the past costs incurred by SCS starting
"We are very pleased that SAPETRO has agreed to close the Farmout Agreement, and mobilization of the Pacific Scirocco, which arrived in Guinean waters on
SCS and SAPETRO have also signed a Joint Operating Agreement, which regulates how operations will be conducted. SCS will be the Operator for the PSC.
SAPETRO is an African focused privately held oil & gas exploration, production and investments company with a portfolio of high-quality assets in West and
Forward Looking Statements
This News Release contains "forward-looking statements" within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, future events or performance and underlying assumptions and other statements which are other than statements of historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," " will," "expect," "plan," "project," "anticipate," "estimate," "believe," or " think." Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. We assume no duty to update or revise our forward-looking statements based on changes in plans or expectations or otherwise.
President and Chief Executive Officer
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