RNS Number : 8827J

Scirocco Energy PLC

26 August 2021

26 August 2021

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Helium One Update

Completion of 2021 Drilling Campaign & Commencement of Phase 2 Exploration

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, notes the below update issued by Helium One, in which the Company has an approximate 1 per cent. holding.


-- Definition of a working helium system in the Rukwa Basin, de-risking our 3,500km(2) license area

-- Greater knowledge of helium geology allows identification of 'Shallow' and 'Deep' target types for Phase 2 Exploration

-- New 'Shallow' targets can be investigated by appropriate geophysical techniques to identify prospects for low-cost drilling

-- New 'Deep' structural targets beneath well-developed 130m thick Top Karoo seal can be investigated by 2D infill seismic on defined gravity targets

   --    Helium One is well financed with GBP10m to advance the Rukwa Basin towards discovery 

-- Tai-2, although completed without identifying helium gas, has provided valuable information on shallow trap and seal potential

A full version of the Helium One press release can be found via the following link: http://www.helium-one.com/regulatory-news/

For further information:

 Scirocco Energy plc 
  Tom Reynolds, CEO 
  Doug Rycroft, COO                                +44 (0) 20 7466 5000 
   Strand Hanson Limited, Nominated Adviser 
   James Spinney / Ritchie Balmer / Rory Murphy      +44 (0) 20 7409 3494 
   WH Ireland Limited, Broker 
   Harry Ansell / Katy Mitchell                      +44 (0) 207 220 1666 
   Buchanan, Financial PR 
   Ben Romney / Jon Krinks / James Husband           +44 (0) 20 7466 5000 

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(END) Dow Jones Newswires

August 26, 2021 05:07 ET (09:07 GMT)

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