Response to Media Comment

RNS Number : 3334A

SEPLAT Petroleum Development Co PLC

28 May 2019

 

Seplat Petroleum Development Company Plc

Response to media comment: "NPDC, Seplat short-changed FG by $1.8bn, N8.8bn - Presidential panel"

Lagos and London, 28 May 2019: Seplat Petroleum Development Company Plc ("Seplat" or the "Company") wishes to inform the public that its attention has been drawn to recent publications alleging that Seplat "failed to remit complete dues" on royalty oil, royalty gas, concessional rental and gas flared penalty from 2013 through 2017.

Seplat strongly refutes the allegation of non-payment of Gas sale royalty, Oil royalty, Concession rental and Gas flare penalty and confirms that it is up to date on all statutory payments to the FGN. Seplat will vigorously defend its position.

This announcement is made in accordance with the provisions of Rule 17.10 (Dealing with Rumour), Rulebook of the Nigeria Stock Exchange, 2015 (Issuers Rule), where Seplat is required to publicly state its position.

Enquiries

Seplat Petroleum Development Company plc
Roger Brown, CFO	[phone]
Mirian Kachikwu, General Counsel & Company Secretary	[phone]
FTI Consulting
Ben Brewerton / Sara Powell	[phone]
	[e-mail]

Notes to editors

Seplat Petroleum Development Company Plc is a leading indigenous Nigerian oil and gas exploration and production company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT).

Seplat is pursuing a Nigeria focused growth strategy and is well-positioned to participate in future divestment programmes by the international oil companies, farm-in opportunities and future licensing rounds.  For further information please refer to the company website, http://seplatpetroleum.com/

 

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