TORTOLA, British Virgin Islands, June 06, 2018 (GLOBE NEWSWIRE) -- Orca Exploration Group Inc. (“Orca” or the “Company”) (TSX-V:ORC.A) (TSX-V:ORC.B) would like to inform its shareholders that a summary of a report by the Special Parliamentary Committee for the Gas Sub-Sector appointed by the Government of Tanzania (the “Special Committee”) was read before the Speaker of Parliament of Tanzania and assembled guests on June 2, 2018. The report marked the culmination of an investigation into Tanzania’s natural gas sub-sector by the Special Committee, which was commissioned in November 2017 and conducted work from January 2018. While its subsidiary, Pan African Energy Tanzania Ltd (“PAET”) as well as other investors in the Tanzanian gas industry, assisted and provided written submissions to the Special Committee, Orca has not yet had access to the report and Orca is not in a position to make specific comments thereon. Orca is, however, aware of the summary read out and distributed through various local media outlets.
Despite PAET and Orca making extensive submissions of facts to the Special Committee, Orca believes that there are a number of findings and allegations in connection with the report which appear inaccurate or inconsistent with the actual facts as understood by Orca and PAET. Such allegations are concerning to the Company. Orca stands by its impeccable operational record and the significant economic benefit of those operations which have accrued to the United Republic of Tanzania to-date. Throughout the implementation and operation of the Songo Songo project, Orca and PAET have complied fully with the terms of the contracts entered into with all parties, including the Government of Tanzania, TPDC and Tanesco. Orca looks forward to the opportunity to meet with the Government of Tanzania to address the Special Committee’s findings.
About Orca Exploration Group Inc.
Orca is an international public company engaged in natural gas exploration, development and supply in Tanzania through its wholly-owned subsidiary, PAET. Orca trades on the TSX Venture Exchange under the trading symbols ORC.A and ORC.B. Orca’s Project Agreements are more fully described in the Company’s 2016 Annual Information Form, and available on www.orcaexploration.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact: W. David Lyons, Chairman and CEO +44-7717-100-200
