Update on Mabesekwa Project, Botswana

Kibo Energy PLC (Incorporated in Ireland)

(Registration Number: 451931)

(External registration number: 2011/007371/10)

Share code on the JSE Limited: KBO

Share code on the AIM: KIBO

ISIN: IE00B97C0C31

("Kibo" or "the Company")

Dated: 09 November 2018

Kibo Energy PLC ('Kibo' or the 'Company')

Update on Mabesekwa Project, Botswana

Kibo Energy PLC, the multi-asset, Africa focused energy company, announces an update on its 85% controlled Mabesekwa Coal Independent Power Project ('Mabesekwa' or the 'Project') in Botswana.  Following a formal presentation by Kibo to Botswana's Department of Mines, the Company has today formally submitted an application for a full Mining Right for the Project.

Louis Coetzee, CEO of Kibo, said, "We are pleased to have submitted a formal Mining Right application for Mabesewka, following a formal presentation that outlined our envisaged development plan, to Botswana's Department of Mines.  We have reached this key step in an efficient manner and this is testament to the organisation of the Botswanan Department of Mines and the hard work of Kibo's team. Mabesekwa is at an advanced stage, with water and land permits and environmental certification in place, in addition to the PFS and Scoping Study that have both already been completed."

Further Information

Located c.50km southeast of Botswana's second largest city, Francistown, Mabesekwa is envisaged as a coal-based integrated mine-mouth power plant with the potential to incorporate a solar component.  It currently consists of a 303Mt SAMREC compliant Coal Resource, with water/land-use permits and environmental certification in place.  A Pre-Feasibility Study on the coal mine has been completed, as has a Scoping Study, which highlight the power plant having a maximum capacity of 600MW (4x150MW) based on a coal delivery rate of 3.2Mtpa and a Life of Mine of over 30 years.  A Definitive Feasibility Study is underway.

Notable synergies exist between Mabesekwa and Kibo's other two projects, which should provide considerable benefits, including economies of scale in equipment, execution, project finance and strong strategic partnerships.

**ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

For further information please visit www.kibo.energy or contact:

Notes to editors

Kibo Energy PLC is a multi-asset, Africa focussed, energy company positioned to address the acute power deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end, it is the Company's objective to become a leading independent power producer in the region.

Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project ('MCPP') in Tanzania; the Mabesekwa Coal Independent Power Project ('Mabesekwa') in Botswana; and the Benga Independent Power Project ('BIPP') in Mozambique. By developing these projects in parallel, the Company intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement, equipment, human capital, execution capability / capacity and project finance. Additionally, the Company will benefit from its robust and experienced international blue-chip partnership network across its project portfolio, which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa; and Hogan Lovells International LLP.

Johannesburg

09 November 2018

Corporate and Designated Adviser

River Group