Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) told investors that the replacement equipment for its rig is now in Tanzania and is due to arrive at the Itumbula well site today.
The company, in a statement, said the replacement iron rough neck will be installed immediately and once the part is installed, the team will ‘rig up’ for an anticipated spud of the well in January.
It noted, meanwhile, that this schedule is subject to the successful completion of the funding, announced on 5 December, which the company is progressing with.
Today, Helium One holds its AGM which will include an operational update presentation delivered by chief executive Lorna Blaisse.