REG - Helium One Global Ld - Jackson-4 Flow Testing and Gas Sampling Analysis

Helium One GlobalAnnouncement

01/04/2025 07:15

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RNS Number : 0977D  Helium One Global Ltd  01 April 2025

1 April 2025

 

 

Helium One Global Ltd

("Helium One" or "the Company")

Jackson-4 Flow Testing and Gas Sampling Analysis

 

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-4 L4 3154 development well.

Highlights

§ Jackson-4 flowed naturally during drilling and at Total Depth ("TD")

§ Flow rate measurements since drilling operations were completed have seen
increasing natural flow increased to approximately 190 thousand cubic feet per
day ("Mcfd")

§ Projected stabilised flow rates expected to be between 250 to 350 Mcfd
constrained to optimise production, with a maximum potential projected rate of
450 Mcfd

§ Early gas samples have returned helium concentrations of up to 1.18% (not
air corrected) and 85.93% CO(2) in line with expectations

Jackson-4 Gas Sampling Analysis

The Jackson-4 well reached a TD at 1,260 feet (384m) within the Upper Lyons
Formation, encountering the Lyons Sandstone Formation at 1,198 feet (365m). As
expected, no water was encountered during drilling of the Lyons Sandstone
Formation with wireline logs confirming the penetrated Lyons Sandstone
reservoir to be high-quality and gas saturated.

Flow testing since TD has revealed increasing natural flow rates, reaching
approximately 190 Mcfd and strong pressure build-up post-testing indicates
high permeability and good reservoir communication. Based on the previous
engineering study described below, and the observed flow rates, the projected
stabilised flow rates constrained for production optimisation are expected to
be between 250 to 350 Mcfd, with a maximum of 450 Mcfd.

Initial laboratory analysis of gas samples from Jackson-4 showed a helium
concentration up to 1.18% (not air corrected) and 85.93% CO(2) (and 12.89%
nitrogen) which is in line with expectations.   Jackson-4 is one of the
southernmost wells on the Galactica-Pegasus project and was anticipated to
potentially access higher CO(2) and lower helium concentrations than wells to
the north and west.

Maintaining optimal plant throughput for beverage-grade CO(2) production,
requires a consistent CO(2) feed. Therefore, high concentrations of CO(2) are
crucial to enable the necessary blending of input gas to achieve and maintain
this optimal feed.

 

Jackson-4 Flow Testing Results

The Jackson-4 well reached a TD of 1,260 feet (384m), encountering the Lyons
Formation at 1,198 feet (365m). The well was completed 62 feet (18.8m) into
the Upper Lyons Sandstone Formation and wireline logs confirmed the penetrated
Upper Lyons Sandstone Formation to be of high-quality and gas saturated.

The well exhibited natural gas flow during drilling and at TD. Flow testing
has continued, with results demonstrating natural flow rates of approximately
190 Mcfd. Strong pressure build-up post-testing confirms high permeability and
good reservoir communication.

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 to 750 millidarcies ("mD")

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

o  The State-16 well showed a calculated permeability of 405 mD in the Upper
Lyons Sandstone Formation

o  For State-16 (405 mD) stabilized initial flow rates constrained for
production optimisation would be 250 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-4 well has shown a natural flow rate of approximately 190 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-4, 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 250 to 350 Mcfd with a maximum
potential rate of 450 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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