REG - Helium One Global Ld - Helium Offtake Agreement for Galactica Project

Helium One GlobalAnnouncement

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RNS Number : 9129G  Helium One Global Ltd  04 June 2026

 

04 June 2026

Helium One Global Ltd

("Helium One" or "the Company")

Secured Helium Offtake Agreement for Galactica Project

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, provides an update following the Blue Star Helium (ASX:BNL)
("Blue Star" or "Operator") announcement issued today regarding the Galactica
Project.

Operator Reported Highlights

•   The Operator has entered an initial short-term (3 month) helium
offtake agreement (the "Agreement") with a major US industrial gases
purchaser, covering early production output from the Pinon Canyon Plant

•   Pricing is firm for the duration of the Agreement and reflects current
US spot markets

•  The short-term Agreement establishes commercial cash flow potential
whilst comprehensive long-term offtake negotiations continue

•   Commercial discussions for co-produced CO(2) are also progressing

Details Reported by the Operator

The Operator has executed an initial short-term helium purchase and sales
agreement to supply all of the helium produced at the Pinon Canyon Plant, the
processing facility for the Galactica Project undertaken in joint venture with
Helium One in North America.

Execution of the Agreement marks the joint venture's first formalised helium
offtake commitment and establishes immediate commercial momentum at the Pinon
Canyon Plant, complementing the trailer-by-trailer spot sales of initial
production and bridging to the long-term offtake arrangements currently in
negotiation.

Key Commercial Terms of the Agreement

In accordance with standard industry practice for helium offtake agreements,
the commercial terms, including the identity of the counterparty and the
agreed price, are confidential between the parties.

The Operator confirms the disclosable material parameters of the Agreement are
structured as follows:

•    The Counterparty: A premier, publicly listed corporation in the
United States with a multi-billion-dollar market capitalisation. The entity
holds a strong investment grade credit rating and is a prominent player in the
global industrial gases distribution sector.

•    Term: The initial Agreement has a fixed term expiring on 31 August
2026. This short-term transitional window allows for seamless product delivery
and revenue generation covering the period during which the Operator is in
ongoing negotiation of the wider, long-term offtake arrangements.

•     Pricing Structure: Pricing has been agreed at a fixed level for
the duration of the Agreement reflecting the short term. The agreed price is
broadly reflective of the US helium spot market and the impacts on the market
brought about by geo-political events relevant to US demand for locally
sourced helium. The fixed price under the Agreement is distinct from pricing
structures customarily seen in longer term contracts.

Helium Market Context

The North American helium market continues to exhibit strong pricing
fundamentals, driven by sustained, structural demand across high-technology
manufacturing sectors, particularly semiconductor fabrication, aerospace
engineering, and advanced defence technologies. The global helium market
continues to be affected by structural supply chain disruptions, rationing and
surcharges, particularly resulting from prolonged instability in Middle
Eastern supply routes, which has materially increased demand for reliable,
US-sourced domestic supply.

With global inventory buffers tightening, pressure on the US domestic supply
position underscores the strategic geographic advantage of the Galactica
Project.

Production & Delivery Status

Following commencement of integrated operations at the Pinon Canyon Plant in
March 2026, the Operator has worked through a phase of commissioning and
optimisation typical of bringing a new helium processing facility to balanced
steady state ("initial production phase"). This has involved iterative
optimisation and refinement of components across plant and gathering system in
close co-operation with the operations team and specialist contractors on
site.

During the initial production phase and associated optimisation of the plant
and gathering system continue, the tube trailer is being filled intermittently
with refined helium for sale under a separate arrangement.

With these workstreams advancing, the plant has seen increased uptime and
steady-state operations, successfully executing better routine runtime,
shut-in, and restart cycles characteristic of its expected long-term
operational profile.

As uptime and steady-state production continues to improve, subsequent helium
production will be delivered under the new Agreement.

CO(2) Commercialisation Update

The Operator is currently engaged in advanced discussions with multiple
regional processing and end user parties.

 

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 Broker)  +44 20 3100 2000

 Scott Mathieson

 Piers Shimwell

 Phoebe Bunce

 Tavistock (Financial PR)                                +44 20 7920 3150

 Nick Elwes

 Saskia Sizen

 

Notes to Editors

Helium One Global, the primary helium explorer in Tanzania with a 50% working
interest in the Galactica-Pegasus helium development project in Colorado,
USA. The Company holds helium licenses within two distinct helium project
areas, across two continents and has the potential to become a strategic
player in resolving a supply-constrained helium market.

 

The Company's flagship southern Rukwa Project is located within the
southern Rukwa Rift Basin in south-west Tanzania. This project is entering a
full appraisal and development 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 ("EWT"), successfully flowed 5.5%
helium continually to surface in Q3 2024.

 

Following the success of the EWT, the Company filed a Mining Licence ("ML")
application with the Tanzania Mining Commission in September 2024 and the
480km(2) ML was formally awarded to the Company in July 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) and successfully completed a six
well development drilling campaign in H1 2025. The completion of the
development programme is a key component of the broader Galactica-Pegasus
development strategy; aimed at progressing the helium and CO(2) discoveries
to near-term commercial production.

 

This programme has seen a systematic approach to developing the extensive
Lyons Formation reservoir. The programme has delivered encouraging results, in
line with expectations, consistently encountering good helium (up to 3.3% He)
and CO(2) concentrations in the target formation and demonstrating promising
flow potential. The initial Galactica wells were tied into first gas in Q4
2025, with further wells coming onstream in 2026 for both helium and CO(2)
production.

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