Update re SEPCOIII Strategic Development Agreement

Kibo Energy PLC (Incorporated in Ireland)

(Registration Number: 451931)

(External registration number: 2011/007371/10)

Share code on the JSE Limited: KBO

Share code on the AIM: KIBO

ISIN: IE00B97C0C31

("Kibo" or "the Company")

Dated: 3 April 2019

Kibo Energy PLC ('Kibo' or the 'Company')

Update re SEPCOIII Strategic Development Agreement

Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused energy company, announces that further to the announcement dated 11 December 2018, a final decision regarding the Strategic Development Agreement ('SDA') with SEPCOIII has not been made; discussions are ongoing.  The Company looks forward to updating the market further in this regard in due course.

*ENDS**

For further information please visit www.kibo.energy or contact:

Notes to editors

Kibo Energy PLC is a multi-asset energy company focused on progressing a diverse portfolio of advanced power generation and mining projects in Sub-Saharan Africa and the UK, utilising established international relationships with key development partners.  It is simultaneously developing three coal-fuelled power projects in Africa: the Benga Independent Power Project in Mozambique; the Mabesekwa Coal Independent Power Project in Botswana; and the Mbeya Coal to Power Project in Tanzania. Additionally, the Company has a 60% interest in MAST Energy Developments Limited, a private UK registered company targeting the development and operation of flexible power plants to service the Reserve Power generation market. 

Johannesburg

3 April 2019

Corporate and Designated Adviser

River Group