TIDMSCIR

RNS Number : 1787J

Scirocco Energy PLC

19 August 2021

19 August 2021

Scirocco Energy plc

("Scirocco Energy" of "the Company")

Helium One Update

Commencement of Drilling of Tai-2 Exploration Well

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

-- Helium One has commenced exploration drilling at Tai-2, the second exploration well targeting the Tai prospect.

-- The exploration well targets prospective Lake Bed stratigraphy, which was identified but not fully evaluated as part of the drilling of Tai-1.

-- Tai-2 is located 20m from Tai-1 and utilises the same drill pad, saving time and money in relocation compared to mobilising from one site to another.

The Company notes that Tai-1 has de-risked the Rukwa Basin by proving a working helium system. With 3,500km (2) of untested licences in the Rukwa area, the Company notes Helium One is excited to continue exploration in this highly prospective helium basin.

With confirmation of a working helium system, Tai-1 supports ongoing exploration with helium shows identified at multiple stratigraphic intervals. The drilling at Tai-2 will test one of several targets highlighted for additional exploration following positive results from Tai-1.

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) 207 220 
   Harry Ansell / Katy Mitchell                      1666 
  Buchanan, Financial PR                            +44 (0) 20 7466 
   Ben Romney / Jon Krinks / James Husband           5000

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August 19, 2021 05:12 ET (09:12 GMT)

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