Scirocco Energy PLC (LON:SCIR) has generated about £1.6mln 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 to 9.95mln shares or 1.59%.
Including a prior transaction, Scirocco has received a total of £2.06mln 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 preparations are underway for a pivotal drill programme.
Last week, Helium One confirmed its planned exploration drilling programme had received an Environmental Impact Assessment 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 as it sees the project as potentially one of the largest of its type in the world.