Orca Energy Notes Announcement by Swala Oil and Gas (Tanzania) PLC

Source: www.gulfoilandgas.com 8/9/2022, Location: Africa

Orca Energy Group Inc. notes the announcement by Swala Oil and Gas (Tanzania) PLC (“Swala”) titled “IMPACT OF ACCOUNTING FAILURES IN PAEM ON SWALA ACCOUNTS”.

As Swala had been specifically and repeatedly advised prior to its issuance,this press release appears to contain inaccurate and misleading statements in relation to PanAfrican Energy Tanzania Limited (“PAET”) and PAE Pan African Energy Corporation.

Orca is working closely with its legal and other advisors and intends to take any steps necessary or appropriate to address the situation, including pursuing any legal remedies available to the Corporation.

Orca does not intend on providing any further communication to shareholders on this matter unless the board of directors of the Corporation determines it is advisable to do so or such disclosure is required in order for Orca to comply with applicable law.


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