Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) said it received independent verification of the prospective resources at the Tai prospect in Tanzania, with a new competent person's report (CPR) indicating a 61% upgrade in the size.
Reserves auditors ERCE now estimate Tai's unrisked prospective resources (2U) at 2.8bn cubic feet (Bcf) and total gas resources at 212.2Bcf across all formations.
This represents a 61% increase on the 2U figure from the previous 2020 CPR completed by SRK Consulting, Helium One added.
On a high-case basis (3U), ERCE calculated the resource at 7.1Bcf, or 30% up from the 2020 CPR, while the total gas estimate jumped by 294% to 437.8Bcf.
Helium One said the upgrade reflects a more detailed interpretation of additional 2D seismic data acquired across Tai in 2021.
Lorna Blaisse, Helium One’s chief executive, added: "We are very pleased to have carried out this independent report with leading reserve auditors, ERCE as it provides us with a robust view of our drill-ready prospect.
“The team has undertaken a huge amount of detailed technical work over the past two years and we are very confident that the Tai prospect gives us the best chance of proving up helium in the Rukwa Basin.“