Completion of SPA Extended for Soco Cabinda

Wednesday, August 1, 2018

Soco International issued an update on its corporate activities, specifically its exit of its holding in Angola. The company entered into a SPA for the sale of its entire 80% shareholding in SOCO Cabinda Limited, the company holding a 22%, non-operating, working interest in the PSC for the Cabinda North Block, Angola.

As indicated in the announcement of the sale, the original long stop date for satisfaction or, where applicable, waiver of the SPA conditions was July 31. The parties to the SPA have agreed an extension of this long stop date to August 17 to allow additional time for receipt of the customary approvals required for completion.

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