Scirocco Energy PLC Helium One Update (4498L)

TIDMSCIR

RNS Number : 4498L

Scirocco Energy PLC

12 January 2021

12 January 2021

Scirocco Energy plc

("Scirocco" of "the Company")

Helium One Update

Submittal of Drilling ESIA at Rukwa Project

Scirocco Energy (AIM: SCIR), notes the positive update provided by Helium One (AIM: HE1) this morning, in which the company announces the advancement of its exploration programme at the Company's Rukwa Project in southern Tanzania with submission of key environmental studies. Scirocco holds an interest of c.4.6% in the share capital of Helium One, and 1 million share options.

Highlights:

-- Completion of Environmental and Social Impact Assessment (ESIA) and Compensation Survey, including consultation with communities in nine villages closest to the drill locations.

-- Submission of key Environmental Impact Assessment for the company's proposed drilling programme at the Rukwa Project to the National Environment Management Council (NEMC) of the Tanzanian Government.

-- The study, which covers a project area of 310km (2) in three prospecting licences (PL10712/2015, PL10713/2015 and PL10727/2015), is a key document in securing environmental permits for exploration drilling and an important milestone towards Helium One's maiden exploration drilling in Q2 2021.

Commenting on the update, Scirocco's CEO Tom Reynolds said:

"We are pleased to see He1 making positive progress with its activities in Tanzania, with the planned drilling programme in Q2 '21 representing a strong catalyst for Scirocco given our material stake in that Company. We look forward with confidence to this exciting event on the near-term horizon."

For further information:

 
 Scirocco Energy plc 
  Tom Reynolds, CEO                                [phone] 
  Doug Rycroft, COO                                 5000 
 
   Strand Hanson Limited, Nominated Adviser          [phone] 
   James Spinney / Ritchie Balmer / Rory Murphy      3494 
 
   WH Ireland Limited, Broker                        [phone] 
   Harry Ansell / Katy Mitchell                      1666 
 
   Buchanan, Financial PR                            [phone] 
   Ben Romney / Kelsey Traynor / James Husband       5000 
 

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January 12, 2021 10:51 ET (15:51 GMT)