Kibo Energy PLC (LON:KIBO) has elected to extend the deadline for the final confirmation of the Strategic Development Agreement with Chinese power company SEPCOIII, which was announced in July.
The extension will run for a further 4 months to 30 March 2019.
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It has been agreed that this is a period of non-exclusivity during which Kibo can enter into discussions with alternative interested parties.
Kibo emphasised that its relationship with SEPCOIII remains strong, and cited continued close co-operation to finalize the SDA, and the development of the Mbeya coal to power project, where the parties have amongst others signed a joint development agreement and EPC contract.