Kibo Energy PLC (LON:KIBO) told investors that it has received a request from China-based SEPCOIII for a further extension as it mulls a decision to potentially invest in the company.
A previous extension was given in October and the AIM-quoted company said it would now hold a board meeting later this week to consider the request.
The company, in a statement, meanwhile, highlighted other interest from potential investors.
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“The board of Kibo intends to consider SEPCOIII's request at a board meeting to be held this week and determine the terms which would be acceptable to the company for such an extension, taking into consideration the recent strong interest received by the company from other entities expressing their desire to participate in the development of Kibo's portfolio of energy projects,” Kibo said in a statement.
Back in July, when the initial SEPCOIII proposals were announced, Kibo chief executive Louis Coetzee described it as “excellent news” and “a major endorsement”.