Helium One Global Ltd (AIM:HE1, FRA:9K3) told investors that the offtake agreement covering all helium produced at its Galactica-Pegasus joint venture in Colorado has been extended through the end of March next year, providing continuity of deliveries and revenue while longer-term sales arrangements are negotiated.
The agreement, which had been due to expire on 31 August, now runs until 31 March 2027 and continues to cover all helium produced at the Pinon Canyon processing plant. Pricing remains fixed for the extended term and reflects prevailing US helium market conditions, the company said.
The existing purchaser, described as a publicly listed US corporation, remains unchanged, although its identity and the agreed pricing remain commercially confidential. Operator Blue Star Helium is meanwhile continuing negotiations for wider, longer-term offtake arrangements.
Operationally, a fourth tube trailer of helium has been delivered and a fifth is being filled at Pinon Canyon, with trailer exchanges continuing on schedule.
Helium One owns a 50% working interest in Galactica-Pegasus in Las Animas County, Colorado, alongside operator Blue Star.
