REG - Helium One Global Ld - Jackson-27 Flow Test Results & Gas Analysis Update

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RNS Number : 6853G  Helium One Global Ltd  30 April 2025

30 April 2025

 

 

 
 

Helium One Global Ltd

("Helium One" or "the Company")

 

Jackson-27 Flow Test Results and Gas Analysis 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
the Galactica Project.

Highlights

§ Jackson-27 flowed naturally during drilling and at Total Depth ("TD")

§ Flow rate since TD has increased to over 320 thousand cubic feet per day
("Mcfd")

§ Projected stabilised flow rates are 350 Mcfd to 450 Mcfd, constrained to
optimise production, with a maximum potential rate of 550 Mcfd

§ Early samples return helium concentration of up to 0.41% (air-corrected)
and 98.31% CO(2)

 

Details

The Jackson-27 well reached TD at 1,183 feet (361m) within the Upper Lyons
Formation, encountering the Lyons Sandstone Formation at 1,123 feet (342m). As
expected, water was not encountered during drilling of the Lyons Formation
with wireline logs confirming the penetrated Lyons Sandstone Formation to be
high-quality and gas saturated.

Flow testing since TD has revealed increasing natural flow rates, reaching
approximately 320 Mcfd to-date. Strong pressure build-up post-testing
indicates high permeability and good reservoir communication. Based on
previous engineering studies and observed flow rates, the projected stabilised
flow rates constrained for production optimisation are expected to be between
350 Mcfd and 450 Mcfd, with a maximum of 550 Mcfd.

Initial laboratory analysis of gas samples from Jackson-27 showed a helium
concentration up to 0.41% (air corrected) and 98.31% CO(2) (and 1.27%
nitrogen). The well has tested the far eastern extent of the Galactica project
area, and understanding the flow potential and reservoir gas composition in
this part of the field is key to defining the helium-CO(2) development going
forward.

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.

Blue Star previously released results of an independent engineering analysis
of wells in the Galactica-Pegasus project and this analysis established
maximum stabilised rates and drawdown for development planning and economic
modelling.

The analysis integrated results from the State-16 well with test data from the
JXSN-1, JXSN-2, JXSN-3, and JXSN-4 discovery wells and compared it to public
information from the adjacent Red Rocks development.

The study concluded:

o  Calculated permeabilities in the JXSN discovery wells and State-16 well
range from 300 millidarcies ("mD") to 750 mD

o  This permeability range suggests initial flow rates at 6 pounds per square
inch absolute ("psia") wellhead pressure of 334 Mcfd to 780 Mcfd

o  The State-16 well showed a calculated permeability of 405 mD in the Upper
Lyons Sandstone Formation, and stabilised initial flow rates constrained for
production optimisation would be 250 Mcfd to 350 Mcfd with a maximum of 441
Mcfd

Development planning includes considering vacuum compression ranging from 11
psia (-1 pounds per square inch gauge ("psig")) to 6 psia (-6 psig) wellhead
pressure which provides the ranges above.

The Jackson-27 well has shown a natural flow rate of approximately 320 Mcfd
which compares favourably to the State-16 well which showed a sustained
natural flow rate of 150 Mcfd.

Given the higher natural flow at Jackson-27, due to greater permeability in
the high-quality Upper Lyons Sandstone Formation, and the previous independent
engineering study, projected potential stabilised flow rates, constrained for
production optimisation, are expected to be 350 Mcfd to 450 Mcfd with a
maximum potential rate of 550 Mcfd.

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

 

Contact

 Helium One Global Ltd                                         +44 20 7920 3150

 Lorna Blaisse, CEO

 Graham Jacobs, Finance and Commercial Director

 Panmure Liberum Limited (Nominated Adviser and Joint Broker)  +44 20 3100 2000

 Scott Mathieson

 Nikhil Varghese

 Zeus Capital Limited (Joint Broker)                           +44 20 3829 5000

 Simon Johnson

 Louisa Waddell

 Tavistock (Financial PR)                                      +44 20 7920 3150

 Nick Elwes

 Tara Vivian-Neal

 

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
480km(2) 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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