REG - Helium One Global Ld - Jackson-29 Well Drilled to TD & Free Gas Confirmed

Helium One GlobalAnnouncement

10/04/2025 07:00

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RNS Number : 4817E  Helium One Global Ltd  10 April 2025

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.

10 April 2025

 

 

Helium One Global Ltd

("Helium One" or "the Company")

Jackson-29 Well Drilled to TD and Free Gas Confirmed

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, OTC: BSNLF) ("Blue Star") announcement issued
today regarding the Galactica Project.

 

Summary

§ Jackson-29 well successfully drilled to total depth ("TD") of 1,183ft
(360m) 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 61ft (18.5m) 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 CO(2) concentrations

§ Well head being installed ahead of surface pressure readings and flow
testing

 

Jackson-29 Well Drilling and Initial Flow Test Results

The well encountered the Lyons Formation at a depth of 1,122ft (342m) MD and
was completed 61ft (18.5m) into the Upper Lyons Sandstone Formation at 1,183ft
(360m). The well exhibited strong natural flow during drilling and at TD, in
line with the recent 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 as well as a
significant portion of the Lower Lyons Sandstone Formation will be gas
saturated. This well targeted the highest quality sandstone at the top of the
Upper Lyons Sandstone Formation which is well 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 CO(2)
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-29, the well will
be completed, ready to be tied-in to production facilities.

The rig will soon be mobilised to the Jackson-27 SWSE 3054 (Jackson-27) well
location where pad construction is underway.

 

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. Four existing discoveries at Galactica/Pegasus
(JXSN-1 to JXSN-4) have delivered gas flows of 125 to 412 thousand cubic feet
per day ("Mcfd") to 412 Mcfd with high helium concentrations of between 2.0%
and 6.1%

Blue Star further appraised the discovery with the State-16 well which was
drilled in June 2024 and the Jackson-31 well drilled in February 2025.
Independent engineering consultants advised that State-16 is capable of
producing up to 441 Mcfd with more stabilised rates constrained for production
optimisation, projected to be between 250 Mcfd and 350 Mcfd. The well tested
1.9% helium and logs identified 96+ feet of gas column in the Lyons Sandstone
Formation.

Applying the same methodology, the Jackson-31 well is capable of a maximum
rate of 500 Mcfd with more stabilised rates constrained for production
optimisation projected to be between 300 and 400 Mcfd.

The third-party owned Red Rocks helium project adjoins Blue Star's Galactica
Project. Development of Red Rocks further supports the commercialisation of
the Galactica Project.

Blue Star has been advancing engineering work on Galactica related to CO(2)
removal, purification and sale prior to helium processing via the IACX helium
recovery unit. Engineering and market analysis continues to optimize
development configurations, production forecasts, and cost estimates.

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.

 

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 covering 1,664km(2) 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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