REG - Scirocco Energy PLC - Kiliwani Operations Update

Scirocco EnergyAnnouncement

08/08/2022 11:15

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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                            +44 (0) 20 7466 5000

 Tom Reynolds, CEO

 Doug Rycroft, COO

 Strand Hanson Limited, Nominated Adviser       +44 (0) 20 7409 3494

 Ritchie Balmer / James Spinney / Rory Murphy

 WH Ireland Limited, Broker                     +44 (0) 207 220 1666

 Harry Ansell / Katy Mitchell

 Buchanan, Financial PR                         +44 (0) 20 7466 5000

 Ben Romney / Jon Krinks

 

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