SCIR Scirocco Energy Plc

TIDMSCIR

RNS Number : 9224E

Scirocco Energy PLC

12 July 2021

12 July 2021

Scirocco Energy plc

("Scirocco" of "the Company")

Helium One Update

Identification of Helium Enriched Gas Shows in the Lake Bed Formation

Scirocco Energy (AIM: SCIR) notes the update provided by Helium One Limited ("Helium One") (AIM: HE1) this morning in which it announced a further helium gas show in drilling mud (a "Gas Show") in the Red Sandstone Group and sidetrack from Tai-1 well following loss of the drill string at 561 meters. Scirocco has a holding of c. 1.2% in Helium One's current share capital.

Highlights:

-- Helium gas shows identified in stratigraphy above our primary targets from 552 metres to 561 metres as measured by the on-line gas chromatograph

-- Gas show supported by indications of gas visually identified as bubbles in drilling mud returns at surface

-- Helium shows continued to 561 metres, at which point drilling operations were suspended due to parting of drill pipe in the midst of drilling the gas show

-- Mitchell Drilling has been unable to recover the lost drill pipe from the hole to date with subsequent delay to drilling operation resulting in the management decision to sidetrack drilling from above the lost pipe at 483 meters

Full details of the announcement can be found on the Helium One's website www.helium-one.com

For further information:

 
 Scirocco Energy plc 
  Tom Reynolds, CEO                                +44 (0) 20 7466 
  Doug Rycroft, COO                                 5000 
 
   Strand Hanson Limited, Nominated Adviser          +44 (0) 20 7409 
   James Spinney / Ritchie Balmer / Rory Murphy      3494 
 
   WH Ireland Limited, Broker                        +44 (0) 0207 220 
   Harry Ansell / Katy Mitchell                      1666 
 
   Buchanan, Financial PR                            +44 (0) 20 7466 
   Ben Romney / Kelsey Traynor / James Husband       5000 
 

Notes to Editors

Helium One is an independent specialist explorer focusing on delineating and developing significant helium assets in Tanzania. This company holds more than 4,500 square km of exclusive licences encompassing four project areas, the largest of which is Rukwa.

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July 12, 2021 06:01 ET (10:01 GMT)

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