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Scirocco Energy Plc generates £1.6mln proceeds as it sells Helium One shares

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Scirocco Energy Plc (LON:SCIR) has generated some £1.6mln of proceeds from the sale of shares in Helium One Global Ltd.

Scirocco, in a statement, said it had sold an additional 7.45mln Helium One shares to reduce its holding in the Helium One to 9.95mln shares or 1.59% of the company.

It follows a prior transaction and in aggregate the company has generated a total of £2.06mln of proceeds from the sale of Helium One shares since it floated in London in late 2020.

Helium One shares have gained some 400% in value since listing, to trade at 21.5p in Tuesday’s early deals.

The shares are in demand amidst its rapid progress with the Rukwa project where presently preparations are underway for a pivotal drill programme.

Yesterday, Helium One confirmed its planned exploration drilling programme  had received an Environmental Impact Assessment (EIA) Certificate on May 4, meaning the AIM-quoted company has all necessary permits in place to start exploration drilling in early June.

Success with the Rukwa well will unlock a substantial opportunity for Helium One has it sees the project as potentially one of the largest of its type in the world.

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