Rift Helium, a primary helium exploration company focused on southwest Tanzania, is planning to float on London's AIM market in mid-April 2026, raising approximately £8 million through a placing and direct subscription.
The company will trade under the ticker RIFT on admission and intends to use the proceeds to advance its Upepo Project in Tanzania's Rukwa Basin, targeting environmental impact assessment approval, 3D seismic-led prospect definition and well drilling.
The Upepo Project covers 283 square kilometres of licence acreage adjacent to confirmed helium discoveries within the basin, which independent technical consultants NSAI have assessed as holding a gross, unrisked P50 prospective resource of approximately 19 billion cubic feet (Bcf) of recoverable helium, with a mean estimate of approximately 41 Bcf on the flagship licence block.
Rift describes itself as a third-mover in the Rukwa Basin, arguing that earlier exploration activity by adjacent operators has validated a working helium system and materially reduced geological risk, allowing it to pursue a more targeted and capital-efficient strategy.
The company is targeting 3D seismic-led prospect definition in summer 2026, with well drilling planned for the first half of 2027.
Tanzania's location on the eastern coast of Africa provides a clear export route to Asia via the port of Dar es Salaam, accessible from the Upepo Project by existing road and rail infrastructure.
Asia accounts for approximately 60% of global helium imports, with the European Union taking a further 30%.
Chief executive Charlie FitzRoy said the company believed it was well-positioned to execute its strategy following admission.
Rift's float comes as a blockade of the Strait of Hormuz squeezes Middle East helium exports, intensifying industry demand for geographically diversified supply sources beyond Qatar and other Gulf states.
Helium is essential to semiconductor manufacturing and MRI medical scanners, and global demand is projected to grow at between 5% and 7% annually through to 2030.