Orca Energy Group Inc. Announces Update on Negotiations with the United Republic of Tanzania and Tanzania Petroleum Development Corporation

On July 26, 2024, TPDC sent several letters to PAET and Songas in which it clearly indicated that it will continue to treat any natural gas produced from the Discovery Blocks after July 31, 2024 as Protected Gas, including its stated intention to extend the transfer and assignment to Songas of the right to explore for and develop Protected Gas. PAET has confirmed that it will not consent to such an amendment. Update on Negotiations In 2001, TPDC assigned to Songas the exclusive right to explore for and deve ...