Helium One Update

RNS Number : 4921P

Scirocco Energy PLC

18 February 2021

 

18 February 2021

Scirocco Energy plc

("Scirocco" of "the Company")

Helium One Update

Commencement of Seismic Campaign

Scirocco Energy (AIM: SCIR), notes the positive update provided by Helium One Limited ("Helium One") (AIM: HE1) this morning, announcing the commencement of its infill seismic campaign with mobilisation of survey and line-clearing crews to its Rukwa project (100%) in Tanzania.

Highlights:

·  Commencement of 150km infill seismic campaign will provide improved resolution over identified drill targets

·  Mobilisation of survey and line clearing crews underway

·    Over 30 people to be active on site including local staff, surveyors, clearing crew and support staff

·Good co-operation between government departments, local communities and Helium One Management has allowed critical seismic work at Rukwa to be fast tracked by the company

· Results of high-resolution seismic survey are the final technical input prior to commencement of Helium One's maiden drilling campaign planned for 2^nd quarter 2021

The seismic campaign consists of approximately 150km of infill seismic acquisition targeting shallow trap structures identified from the interpretation of historic seismic and recent gravity gradient data.  The infill seismic data will provide improved resolution on identified trap structures and assist in placing of drill collars for exploration drilling.  The seismic campaign is fully permitted and benefits from community and governmental support.

Line surveying and line clearing crews, which mobilised today, will employ over 30 people in multiple crews to locate and clear lines for data acquisition.  The process, which may take up to a month to complete, will clear vegetation for the laying of seismic geophone nodes as well as providing access for vibriosis-trucks and support vehicles during data acquisition.

Helium One has worked extensively with local communities, regional and national government to ensure this critical seismic campaign has commenced within the project schedule.  This permits the Company to move forward with its plans for drilling at Rukwa, which will follow processing and interpretation of data from the seismic campaign.  While the project benefits from over 1,000 kilometres of historic seismic data, additional infill seismic over high priority targets will allow better delineation of trap structures and improved confidence over drill targeting.

 

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information please visit the Company's website: www.helium-one.com 

For further information:

Scirocco Energy plc Tom Reynolds, CEO Doug Rycroft, COO	[phone]
Strand Hanson Limited, Nominated Adviser James Spinney / Ritchie Balmer / Rory Murphy	[phone]
WH Ireland Limited, Broker Harry Ansell / Katy Mitchell	[phone]
Buchanan, Financial PR Ben Romney / Kelsey Traynor / James Husband	[phone]

Notes to Editors

Helium One is an independent specialist explorer focuses 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. Scirocco holds a 13.7% interest in Helium One.

 

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