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EFORA ENERGY LIMITED - Update on Encha Payment

Release Date: 23/09/2021 12:10
Code(s): EEL     PDF:  
Wrap Text
Update on Encha Payment

(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
ISIN: ZAE000248258
(“Efora” or “the Company”)


Shareholders of the Company (“Shareholders”) are referred to the announcement issued on SENS
on 25 August 2020 wherein the Company provided an update on Encha Group Limited’s (“Encha”)
indebtedness to the Company pursuant to an arbitration appeal award of R75.0 million plus interest
and costs.

Encha has defaulted on the payment schedule that it had agreed with the Company, and which was
set out in the Company’s SENS announcement of 25 August 2020.

The Company is considering its position, and will take appropriate legal action to enforce its rights.

23 September 2021

PSG Capital

For further information please contact:

Efora Energy Limited
Darrin Arendse

+27 (0)10 591 2260

About Efora

Efora Energy Limited is a South African based independent African oil and gas company, listed on
the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration
and appraisal in the Democratic Republic of Congo; a midstream project relating to crude trading in
Nigeria and material downstream distribution operations throughout Southern Africa. Our focus as a
Group is on delivering energy for the African continent by using Africa’s own resources to meet the
significant growth in demand expected over the next decade.

Date: 23-09-2021 12:10:00
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