Helium One Global Ltd Operational Update (1452J)

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RNS Number : 1452J

Helium One Global Ltd

14 August 2023

14 August 2023

Helium One Global Ltd

("Helium One" or "the Company")

Operational Update

Helium One Global (AIM: HE1), the primary helium explorer in Tanzania, is pleased to provide an update on progress at its Rukwa (100% Operated) project area ahead of its Phase II drilling programme.

Highlights

   --    Civils work on Tai-C well site and access road now completed 
   --    Commenced mobilisation of equipment from lay down area to Tai-C well site 
   --    Appointment of full drill crew at an advanced stage 
   --    Company remains on track for a September spud 

The civils work for the well site and access road has been carried out and completed by TNR Ltd ("TNR"). TNR have spent the past couple of months clearing, preparing, and constructing an 130m x 180m well pad that includes a concrete cellar to house the wellhead. The well pad has been constructed to include an area for the camp that will provide accommodation for rig crew and project personnel. The cementing component of the well pad has been approved and signed off by the Tanzania National Road Agency (TANROADS) under the Ministry of Works and Transport.

In addition to civils work on the drill pad, TNR have also cleared and prepared a 2.4km long access road to the Tai-C well site. This provides clear and accessible entry to the well site and camp.

The next steps include moving the rig and all its equipment safely to the well site in order to commence rigging-up the Predator 220. In parallel to this, the Company will select the remaining drill crew and prepare for the arrival of the camp, third party services equipment, and the last of the remaining long lead items.

Lorna Blaisse, Chief Executive Officer, commented:

"Helium One is now another step closer to commencing our drilling programme at Tai-C. We are very impressed with the high standard of work that TNR have carried out and we look forward to moving ahead into the next stage of the project. The team has been working incredibly hard and we will now commence the mobilisation of equipment onto the well pad and finalise the drill crew as we gather momentum ahead of the September spud."

For further information please visit the Company's website: www.helium-one.com

Contact

 
 Helium One Global Ltd                         [phone] 
  Lorna Blaisse, CEO                            3150 
 
 Liberum Capital Limited (Nominated Adviser 
  and Joint Broker) 
  Scott Mathieson 
  Ed Thomas                                    [phone] 
  Nikhil Varghese                               2000 
 
 Peterhouse Capital Limited (Joint Broker)     [phone] 
  Lucy Williams                                 9792 
 
 Tavistock (Financial PR) 
  Nick Elwes                                   [phone] 
  Tara Vivian-Neal                              3150 
 

Notes to Editors

Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences totalling more than 2,964km(2) across three distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.

The Rukwa, Balangida, and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. The assets lie near surface seeps with helium concentrations ranging up to 10.6% He by volume. All Helium One's licences are held on a 100% equity basis and are in close proximity to the required infrastructure.

The Company's flagship Rukwa Project is located within the Rukwa Rift Basin covering 1,900km(2) in south-west Tanzania. The project is considered to be an advanced exploration project with leads and prospects defined by a subsurface database including multispectral satellite spectroscopy, airborne gravity gradiometry, 2D seismic data, and QEMSCAN analysis. The Rukwa Project has been de-risked by the 2021 drilling campaign, which identified reservoir and seal with multiple prospective intervals from basin to near surface within a working helium system.

In July 2023, Helium One acquired their own exploration drill rig, an Epiroc Predator 220 oil and gas type rig, capable of drilling to depths of 2,400m. The rig was shipped to Tanzania in order to commence Phase II drilling operations.

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.

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August 14, 2023 02:00 ET (06:00 GMT)