Last checked at 12 Jul 2021 11:01
12 July 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 a further helium gas show in drilling mud (a "Gas Show") in the Red Sandstone Group and sidetrack from Tai-1 well following loss of the drill string at 561 meters. Scirocco has a holding of c. 1.2% in Helium One's current share capital.
Highlights:
· Helium gas shows identified in stratigraphy above our primary targets from 552 metres to 561 metres as measured by the on-line gas chromatograph
· Gas show supported by indications of gas visually identified as bubbles in drilling mud returns at surface
· Helium shows continued to 561 metres, at which point drilling operations were suspended due to parting of drill pipe in the midst of drilling the gas show
· Mitchell Drilling has been unable to recover the lost drill pipe from the hole to date with subsequent delay to drilling operation resulting in the management decision to sidetrack drilling from above the lost pipe at 483 meters
Full details of the announcement can be found on the Helium One's website www.helium-one.com
For further information:
Scirocco Energy plc Tom Reynolds, CEO Doug Rycroft, COO | +44 (0) 20 7466 5000 |
Strand Hanson Limited, Nominated Adviser James Spinney / Ritchie Balmer / Rory Murphy |
+44 (0) 20 7409 3494
|
WH Ireland Limited, Broker Harry Ansell / Katy Mitchell |
+44 (0) 0207 220 1666
|
Buchanan, Financial PR Ben Romney / Kelsey Traynor / James Husband
|
+44 (0) 20 7466 5000
|
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.