Comarco Group

Comarco Group owns a port and a vessel fleet located in a key strategic position for servicing East African, on and offshore, shipping and on shore demands. Kenya and in particular Mombasa is the key strategic hub for Eastern and Central Africa and the Comarco port is ideally positioned as a full service, deep water, functioning port for developments in the oil and gas sector in Mozambique. Comarco Group strategy is to expand the current port facilities as a gazetted "Private Port" and to retain and further develop the EPZ companies to take advantage of opportunities identified in the region. Anadarko has recently announced the Final Investment Decision (FID) in the "Area 1" of the Rovuma Basin in Mozambique, at $20 billion the FID is the largest Oil and Gas sanction ever made in Sub Saharan Africa. Comarco Group is one of the few marine operators in the region with the capacity and experience to take part in such large scale and specialised oil and gas marine projects and as such it is anticipated that Comarco Group will be competitive in the bidding for ongoing and upcoming tenders. There will be opportunities for significant improvements in the accessibility of financing of Comarco Group once the Proposed Acquisition as detailed in the 10 June announcement is completed. Over the last year there has been major restructuring of the Comarco Group as part of the partnership with AAA. The existing management team has been bolstered by the arrival of new senior personnel with a renewed focus on developing business opportunities at the Port in Kenya and within the region.