Seplat Energy, on Thursday, said that it is seeking clarification from the relevant authorities to media report claiming that ministerial consent earlier given by President Muhammadu Buhari to its proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited (MPNU) has been withdrawn.

In a letter to the Nigerian Exchange, the company’s Chief Financial Officer, Emeka Onwuka, said that Seplat will continue to work with all parties to achieve a successful outcome with regards  to the proposed acquisition.

“Seplat Energy has become aware of a news report claiming that Ministerial Approval of the Company’s proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited (MPNU) has been withdrawn,” the company said.

“Seplat Energy has received no official notification of such a decision and is seeking clarification from the relevant authorities. We will continue to work with all parties to achieve a successful outcome to the proposed acquisition and will provide an update in due course.

“This announcement is made pursuant to Rule 17.10 of the Rulebook of the Nigerian Exchange, 2015 (Issuer’s Rule),” Seplat added.

However, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in a statement late Monday, rejected the president’s approval of the proposed purchased agreement, noting that it is a regulatory matter.

Speaking with Premium Times on Wednesday, presidential spokesman, Garba Shehu, said that the proposed acquisition had been reversed. Shehu noted that the reversal was taken by the president after looking at all sides, adding that the position of NUPRC was right.

“It has become clear that the various agencies involved in decision had not coordinated well among themselves and having looked at all of the facts with all of the ramifications, the president decided the position of the regulator is to be supported,” Premium Times quoted  Shehu as saying.