Company
LON:HE1
Helium One Global is the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA. The company holds helium licenses within two distinct helium project areas, across two continents. With an expanding global footprint, the company has the potential to become a strategic player in resolving a supply-constrained helium market.
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“Helium remains in critical short supply and a new source of primary helium without associated hydrocarbon production is required to balance the market,” chairman Ian Stalker said in today’s statement.
Scans showed the presence of claystones at several layers, which would “allow the potential for stacked seals to develop within these formations and helium to be encountered on multiple horizons from near surface to basement - as it was at
"We look forward to receiving the results of this survey which will contribute significantly to our understanding of potential shallow helium plays within the top 200m of the Rukwa basin," said CEO David Minchin
"We are delighted with progress at our extended Phase Il 2D seismic campaign," said chief executive David Minchin.
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“It is intended that new seismic data will identify 'deep' targets in structures similar to Tai that could be trapping substantial helium resources,” said David Minchin
“We are excited about our phase 2 programme as we look to build our geological knowledge within the de-risked Rukwa Basin," said CEO David Minchin
“Exploration is an iterative process,” David Minchin said.
The transactions come ahead of the next phase of work in Tanzania.
The company says drilling in 2021 so far has significantly de-risked the Rukwa Basin, demonstrating a working helium system
It was an active week in the small-cap oil and gas sector.
Tai-1 proved a working helium system and it substantially de-risked the Rukwa basin, though Tai-2 needs to avoid operations trouble.
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Chief executive David Minchin said the well is targeting a working system "in which free helium gas is waiting to be discovered.”
“We have learnt a lot about the subsurface of the Rukwa Basin which we can carry forward into planning our ongoing exploration programme," David Minchin said
It was "another positive result" for the helium explorer.
The Tanzanian well encountered significant and unexpected gas shows in a zone above its primary target, prior to a drilling set-back which will now require a sidetrack to be drilled.
The explorer has provided further insights into its operations via social media and a company newsletter.
Helium One moves one step closer to proving that it has the world's largest primary helium resource
