Helium One Update

RNS Number : 5647C

Scirocco Energy PLC

21 June 2021

 

21 June 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 the presence of helium enriched gas in drilling mud (a "Gas Show") in the Lake Bed Formation while drilling Tai-1 well at the Rukwa Project (100%) in Tanzania. Scirocco has a holding of c. 1.2% in Helium One's current share capital.

Highlights:

· Helium shows identified in shallow strata from 70.5 metres

· Micro-Gas Chromatograph showing He concentrations up to 22,084ppm (2.2%) He in gas recovered from drilling mud

· Drilling operations will continue to the base of Lake Bed Formation, anticipated to be at 400 metres, before wireline logging can provide additional information

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

Tom Reynolds, CEO commented: "We are delighted with the news today from Helium One in which they have identified the presence of helium in the drilling mud from a very shallow depth. Although early days in the exploration drilling, we look forward to further updates from the Company as they look to identify if there is commerciality."

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 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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