Helium One Update

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.

Highlights:

· Definition of a working helium system in the Rukwa Basin, de-risking our 3,500km² 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 £10m 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	[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 / Jon Krinks / James Husband	[phone]

 

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