Scirocco Energy highlights progress made by investee Helium One at its Rukwa project
Helium One's ongoing interpretation of Phase II 2D seismic data has identified multiple areas of interest
Company
LON:SCIR
Scirocco Energy PLC holds interests in significant natural gas and helium assets in Tanzania. The primary focus for the company is the development of the Ntorya gas field in the Ruvuma PSA.
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Helium One's ongoing interpretation of Phase II 2D seismic data has identified multiple areas of interest
“Scirocco's 50% interest in EAG represents a robust, scalable platform primed for growth," Tom Reynolds said.
"This represents the next step in our investment strategy supporting investment in 'circular' within the agricultural sector," Scirocco's Tom Reynolds said
“Ruvuma represents a material value catalyst for Scirocco, both in terms of monetisation and operational activity," Tom Reynolds said
“We would like to thank the TPDC for the timely payment of the settlement monies and continued support," said Aminex chair Charlie Santos.
"This is very positive news for the company,” said chief executive Tom Reynolds
Scirocco Energy holds an 8.39% working interest in the joint venture
The deal provides a blueprint for future acquisitions, says chief executive Tom Reynolds
During the first half the company made its first investment in its new strategy.
“APT has made quick progress completing the procurement process and securing highly competitive acquisition rates that benefit the project with considerable financial savings," Charlie Santos said.
Chief executive Tom Reynolds called it an important milestone and highlighted that it may ultimately lead to a re-rating of the company’s shares over time
The company dismissed speculation and reaffirmed its plan to prioritise opportunities in sustainable energy and the circular economy
The Chikumbi-1 exploration and appraisal well is now expected to spud early in the third quarter of 2022
Prolific Basins has over the past year provided US$1mln to Scirocco, with a total of US$925,000 settled through the issue of new shares
“The biogas market is growing rapidly and will be key for the UK's delivery of its decarbonization strategy,” said Scirocco chief executive Tom Reynolds.
Helium One shares have gained some 400% in value since listing in London, meanwhile, Scirocco has been divesting its shareholding
“The company is focusing on proven technical and commercial models within niche or developing markets," said Brendan Long.
“The disposal of the Ausable Reef interest is another milestone as we transition the company away from legacy assets to pursue opportunities within the sustainable energy market in Europe,” said chief executive Tom Reynolds
“We are presently screening a pipeline of opportunities around which we believe we can grow the business and deliver sustainable shareholder value underpinned by steady cash flow, reliable dividends, and a positive ESG story," said Alastair
The AIM-listed firm, which owns a 4.6% stake in Helium One, said an environmental and social impact assessment and a compensation survey have now been completed at the site in Tanzania which included consultation with communities in nine vi