Helium One Global Ld - Jackson-29 Operational Update

Helium One Global

04/04/2025 08:33

RNS Number : 6988D

Helium One Global Ltd

04 April 2025

 

4 April 2025

  

Helium One Global Ltd

("Helium One" or "the Company")

Jackson-29 Operational Update

 

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 an update on the Jackson-29 well.

 

Summary

·    Jackson-29 intermediate hole section successfully drilled to casing point and casing set

·    Cementing programme complete and evaluation underway. However, operations currently suspended due to weather conditions

·    Following evaluation, Blue Star will run cement bond log (CBL) to confirm bonding and drill out into the target Lyons Formation to drilling total depth ("TD")

 

Details

The intermediate hole section of the well was drilled to approximately 1,110 feet (338m).  Subject to weather conditions, the cementing programme will be evaluated, and any excess cement removed. Blue Star will then run the mandatory CBL to confirm good bonding and then drill out into the target Lyons Formation. The well will be TD'd within the Upper Lyons Sandstone Formation (production hole section). This is anticipated to commence early next week.

At TD, the well will be wireline logged after which a wellhead will be fitted followed by flow and pressure readings at the wellhead.

It is anticipated that, upon successful testing at Jackson-29, the well will be completed, ready to be tied-in to production facilities.

 

  

 

Contact

Helium One Global Ltd
Lorna Blaisse, CEO
Graham Jacobs, Finance and Commercial Director
+44 20 7920 3150
Panmure LiberumLimited (Nominated Adviser and Joint Broker)
Scott Mathieson
Nikhil Varghese
+44 20 3100 2000
Zeus Capital Limited (Joint Broker)
Simon Johnson
Louisa Waddell
+44 20 3829 5000
Tavistock(Financial PR)
Nick Elwes
Tara 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.

 

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