Rift Helium Plc has announced it is aiming to join London’s AIM market in mid-April, after securing commitments to raise about £8 million, which sets up the Tanzania-focused explorer to fund the next phase of work at its Upepo helium project.
The company said the fundraising, completed through a placing and direct subscription, will support near-term catalysts including environmental approval, 3D seismic-led prospect definition and, ultimately, drilling.
The pitch to investors centres on its position in the Rukwa Basin in southwest Tanzania, where nearby drilling success has already helped validate a working helium system. Rift said it has a “third-mover advantage” that allows it to apply lessons from earlier entrants and pursue a more focused, capital-efficient exploration strategy.
An independent CPR prepared by NSAI put gross unrisked P50 prospective helium resources at about 19 Bcf, with a mean estimate of around 41 Bcf on the flagship licence block. Rift is targeting 3D seismic-led prospect definition in summer 2026, with drilling planned for the first half of 2027.
"[We are] seeking to enter the market at a time when helium has become more strategically important than ever," said chief executive Charlie FitzRoy.
"Recent disruption to Qatar's natural gas supply has highlighted how concentrated and vulnerable global helium supply can be, reinforcing the need for new primary helium sources."
"We believe Rift offers investors direct exposure to helium exploration upside in the Rukwa Basin, a basin that is now proven to host a working helium system."
FitzRoy, meanwhile, added that the firm will benefit from clear near-term catalysts in 3D seismic and drilling, and a Board and management team with deep helium and capital markets experience.
Rift intends for its shares to trade on the London exchange with the ticker RIFT.