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Yahoo
06-05-2025
- Business
- Yahoo
Helium One Global Ltd - Jackson-2 Well Drilled to TD & Free Gas Confirmed
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. LONDON, GB / / May 6, 2025 / Helium One Global (AIM:HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA ("the Galactica Project"), provides an update following the Blue Star Helium (ASX: BNL) ("Blue Star") announcement issued today regarding the Galactica Project. Highlights Jackson-2 well successfully drilled to total depth ("TD") of 1,232ft (375m) measured depth ("MD") with free gas confirmed by wireline logs Well flowed naturally during drilling and at TD, demonstrating good reservoir communication The well encountered 73ft (22m) gross pay of high-quality (22-26% porosity based on petrophysics from offset wells JXSN-1,-2,-3,-4 and Sate-16), gas-saturated sands in the Upper Lyons Sandstone Formation Samples sent to laboratory for analyses of helium and CO2 concentrations Well head being installed ahead of surface pressure readings and flow testing Lorna Blaisse, Chief Executive Officer, commented: "This has been a very successful development campaign to date, and Jackson-2 is the fifth well to have been drilled. Based on these wells coming in as expected, with consistently good flow rates and helium concentrations across the Galactica project, we will continue with the campaign and drill the sixth and final well of this campaign at State-9, which is expected to commence shortly. Blue Star are assessing the overall programme in order to determine the timing of the next phase, which will include installation of the processing facilities and the tie-in of the wells." Jackson-2 WellDrilling and Initial Flow Test Results The Jackson-2 L4 3154 development well encountered the Lyons Sandstone Formation at a depth of 1,159ft (353m) MD and was completed 73ft (23m) into the Upper Lyons Sandstone Formation at 1,232ft (375m). The well exhibited strong natural flow during drilling and at TD, in line with the recent Jackson-27, Jackson-29, Jackson-31 and Jackson-4 wells. Significantly, no water was encountered during drilling of the Lyons Sandstone Formation and wireline logs confirmed this. Based on offset wells, it is likely that the entire Upper Lyons Sandstone Formation, and a significant portion of the Lower Lyons Sandstone Formation will be gas saturated. Jackson-2 targeted the highest quality sandstone at the top of the Upper Lyons Sandstone Formation, which is connected to the entire gas column. During the natural flow of the well, early gas samples were taken (note, these will be contaminated from air-drilling and will require air-correcting) and are being delivered for laboratory analyses of helium and CO2 concentrations. The well head installation is being completed ahead of surface pressure readings, flow testing and further gas sampling. It is anticipated that, upon successful testing at Jackson-2, the well will be completed, ready to be tied-in to production facilities. The rig is planned to be mobilised to the State-9 SWSE 3054 well location next, the sixth and final well in this current campaign, where pad construction will commence shortly. Galactica/Pegasus Development The Galactica project forms part of the broader Galactica/Pegasus development, discovered by Blue Star in 2022. This large-scale project offers multiple potential product streams. Blue Star is advancing the Galactica project in joint venture with Helium One Global Ltd. Under the farm-in agreement, Helium One will fund the first US $450,000 of this well. The third-party owned Red Rocks helium project adjoins Blue Star's Galactica Project (see map below). Development of Red Rocks further supports the commercialisation of the Galactica Project. For further information please visit the Company's website: Contact Helium One Global LtdLorna Blaisse, CEOGraham Jacobs, Finance and Commercial Director +44 20 7920 3150 Panmure LiberumLimited (Nominated Adviser and Joint Broker)Scott MathiesonNikhil Varghese +44 20 3100 2000 Zeus Capital Limited (Joint Broker)Simon JohnsonLouisa Waddell +44 20 3829 5000 Tavistock(Financial PR)Nick ElwesTara Vivian-Neal +44 20 7920 3150 Notes to Editors Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across two distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market. The Rukwa and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. These assets lie near surface seeps with helium concentrations ranging up to 10.4% helium by volume. All Helium One's licences are held on a 100% equity basis. The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania. This project is considered to be entering an appraisal stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test, successfully flowed 5.5% helium continually to surface in Q3 2024. Following the success of the extended well test, the Company flowed significant quantities of helium to surface and filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024. The 480km2 ML has now been offered to the Company and was officially accepted in March 2025. The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL). Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Helium One Global Ltd View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
03-03-2025
- Business
- Associated Press
Helium One Global Ltd Announces Company Receives Offer of Mining Licence
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. Company Receives Offer of Mining Licence for Southern Rukwa Helium Project, Tanzania LONDON / ACCESS Newswire / March 3, 2025 / Helium One Global (AIM:HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, is pleased to provide the following update on its southern Rukwa Helium Project in Tanzania. Highlights The Company has received an offer letter from the Mining Commission ('MC') in Tanzania for the grant of a Mining Licence ('ML') for the southern Rukwa Helium Project The potential ML will be for an area of approximately 480km2 and will cover all of the southern Rukwa Helium Project in the Momba, Sumbawanga Districts in the southern Rukwa Basin and is consistent with the area that was applied for under the application The offer of the ML follows approval by the Ministry of Minerals ('MoM') who have given the MC permission to grant a larger than standard ML that will enable the southern Rukwa Helium Project to be developed to its full potential Offer letter and terms are currently being reviewed by the Company Lorna Blaisse, Chief Executive Officer, commented: 'As we continue to drive forward, this achievement for the Company marks a milestone in our progress as the primary helium company in Tanzania. This historical moment, for both the Company and for Tanzania, is the first ML to be offered for helium in Tanzania and also the first of such a significant size. I would like to express my appreciation to the Ministry of Minerals and the Mining Commission for their support of this application and project, and for entrusting the Company in paving the way for this flagship commodity sector in-country. I would like to thank the Helium One team who have worked so hard on this and to all our shareholders for their continued support.' Details The offer letter of the ML is an achievement for the Company, following the discovery at Itumbula West-1 last year. The ML application, which was submitted in September 2024, was accompanied by a feasibility study which outlines the potential of the helium resource in southern Rukwa. Following approval from the MoM, the MC were able to allow the full 480km2 which was applied for, and which is significantly larger than a standard ML area for conventional mining practices. The MoM and MC recognise that the helium potential in southern Rukwa is geologically unique given the gas in solution play, and that the Company has identified extensive faulting mechanisms and fracture networks and by including these in the ML area, it provides the Company with the best opportunity to fully leverage the helium potential. The offer letter and terms are now under detailed review by the Company and further announcements will be made in due course. Contact Notes to Editors Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across two distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market. The southern Rukwa and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. These assets lie near surface seeps with helium concentrations ranging up to 10.4% helium by volume. All Helium One's licences are held on a 100% equity basis. The Company's flagship southern Rukwa Helium Project is located within the southern Rukwa Rift Basin covering 1,664km2 in south-west Tanzania. This project is considered to be entering an appraisal stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test, successfully flowed 5.5% helium continually to surface in Q3 2024. Following the success of the extended well test, the Company has now flowed significant quantities of helium to surface and has filed a Mining Licence application with the Mining Commission of the Tanzanian Government. The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL). Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit
Yahoo
03-03-2025
- Business
- Yahoo
Helium One Global Ltd Announces Company Receives Offer of Mining Licence
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. Company Receives Offer of Mining Licence for Southern Rukwa Helium Project, Tanzania LONDON / / March 3, 2025 / Helium One Global (AIM:HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, is pleased to provide the following update on its southern Rukwa Helium Project in Tanzania. Highlights The Company has received an offer letter from the Mining Commission ("MC") in Tanzania for the grant of a Mining Licence ("ML") for the southern Rukwa Helium Project The potential ML will be for an area of approximately 480km2 and will cover all of the southern Rukwa Helium Project in the Momba, Sumbawanga Districts in the southern Rukwa Basin and is consistent with the area that was applied for under the application The offer of the ML follows approval by the Ministry of Minerals ("MoM") who have given the MC permission to grant a larger than standard ML that will enable the southern Rukwa Helium Project to be developed to its full potential Offer letter and terms are currently being reviewed by the Company Lorna Blaisse, Chief Executive Officer, commented: "As we continue to drive forward, this achievement for the Company marks a milestone in our progress as the primary helium company in Tanzania. This historical moment, for both the Company and for Tanzania, is the first ML to be offered for helium in Tanzania and also the first of such a significant size. I would like to express my appreciation to the Ministry of Minerals and the Mining Commission for their support of this application and project, and for entrusting the Company in paving the way for this flagship commodity sector in-country. I would like to thank the Helium One team who have worked so hard on this and to all our shareholders for their continued support." Details The offer letter of the ML is an achievement for the Company, following the discovery at Itumbula West-1 last year. The ML application, which was submitted in September 2024, was accompanied by a feasibility study which outlines the potential of the helium resource in southern Rukwa. Following approval from the MoM, the MC were able to allow the full 480km2 which was applied for, and which is significantly larger than a standard ML area for conventional mining practices. The MoM and MC recognise that the helium potential in southern Rukwa is geologically unique given the gas in solution play, and that the Company has identified extensive faulting mechanisms and fracture networks and by including these in the ML area, it provides the Company with the best opportunity to fully leverage the helium potential. The offer letter and terms are now under detailed review by the Company and further announcements will be made in due course. For further information please visit the Company's website: Contact Helium One Global LtdLorna Blaisse, CEOGraham Jacobs, Finance and Commercial Director +44 20 7920 3150 Panmure LiberumLimited (Nominated Adviser and Joint Broker)Scott MathiesonNikhil Varghese +44 20 3100 2000 Zeus Capital Limited (Joint Broker)Simon JohnsonLouisa Waddell +44 20 3829 5000 Tavistock(Financial PR)Nick ElwesTara Vivian-Neal +44 20 7920 3150 Notes to Editors Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across two distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market. The southern Rukwa and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. These assets lie near surface seeps with helium concentrations ranging up to 10.4% helium by volume. All Helium One's licences are held on a 100% equity basis. The Company's flagship southern Rukwa Helium Project is located within the southern Rukwa Rift Basin covering 1,664km2 in south-west Tanzania. This project is considered to be entering an appraisal stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test, successfully flowed 5.5% helium continually to surface in Q3 2024. Following the success of the extended well test, the Company has now flowed significant quantities of helium to surface and has filed a Mining Licence application with the Mining Commission of the Tanzanian Government. The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL). Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Helium One Global Ltd View the original press release on ACCESS Newswire Sign in to access your portfolio
