Scirocco Energy PLC Kiliwani Operations Update (2665V)

TIDMSCIR

RNS Number : 2665V

Scirocco Energy PLC

08 August 2022

8 August 2022

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Tanzania Operations Update

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, notes the update issued today by Aminex PLC on operations at the Kiliwani North Development Licence (KNDL), in which Scirocco holds a legacy 8.39% non-operated working interest.

-- Orca Energy Group Inc. ("Orca") announced that 3D seismic acquisition programme, covering a total area of 200 km2 to include the adjacent Songo Songo Licence with a ca. 12.5 km2 incursion into the Kiliwani North Development Licence ("KNDL"), has been awarded to African Geophysical Services LLP ("AGS")

-- Orca is targeting completion of the acquisition programme before year end to align with the optimum weather window and assure the highest quality data, subject to receiving final environmental approvals

-- The resulting data covering the KNDL will be acquired at zero cost to the Kiliwani North joint venture, and will help in identifying fault trends, improving reservoir definition and improving the understanding of the Kiliwani North and South structures.

Tom Reynolds, Scirocco's CEO commented:

"We are pleased to note the positive progress reported by Aminex today, which will better characterise and enhance the JV's understanding of the potential resource. In so doing, this should support the Company in exploring options to divest or otherwise realise value from the asset as it pivots to investments in sustainable energy and the circular economy."

For further information:

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

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August 08, 2022 06:06 ET (10:06 GMT)