REG - Helium One Global Ld - Galactica Project Update

Helium One GlobalAnnouncement

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RNS Number : 2453Y  Helium One Global Ltd  26 March 2026

 

 

26 March 2026

 

Helium One Global Ltd

("Helium One" or the "Company")

 

Galactica Project 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" or "Operator") announcement issued
today regarding the Galactica Project.

Operator Reported Highlights

·      Six wells now tied into the Pinon Canyon facility, including
Jackson-2 and Jackson-4, completing Stage One of the Galactica development
campaign

·      Facility transitioning to continuous 24/7 operations following
completion of automation and system upgrades

·      First helium sales agreed at spot pricing for the initial tube
trailer; second trailer expected on-site shortly

·      Strong market tailwinds for advancing discussions for long-term
helium and CO₂ offtake

·      CO₂ liquefaction remains on track for H1 2026, with Jackson-27
tie-in timed to coincide with commencement of CO₂ sales

Details Reported by the Operator

The joint venture has successfully completed the installation and testing of
wellsite equipment at the Jackson-4 and Jackson-2 wells. Both wells are now
available for production and have been integrated into the Pinon Canyon
facility gathering system bringing the total number of wells tied to the plant
to six comprising Jackson-2, Jackson-4, Jackson-31, Jackson-29, State-9, and
State-16.

The facility has been operating during daylight hours through a maintenance
and optimisation phase and has intermittently produced gas into the onsite
tube trailer during this period.

Following the completion of automation, maintenance and system upgrades, the
Operator is transitioning to continuous 24/7 operations.

This transition marks the culmination of Stage One of Blue Star's Galactica
development programme and positions the facility for sustained helium
production precisely as global supply conditions have tightened materially.

The Operator has agreed sales for the initial tube trailer at spot pricing,
with a second trailer expected on-site shortly.

The global helium market continues to face structural supply chain
disruptions, rationing, and surcharges particularly due to prolonged
instability in Middle Eastern supply routes. This environment has
significantly increased the demand for reliable, US-sourced domestic supply.

The Operator is leveraging these market tailwinds to advance its offtake
strategy in the following manner:

·      Spot Sales: near-term deliveries are scheduled and set to be
spot-priced on a tube trailer load basis

·    Long-term Offtake: negotiations are progressing with multiple parties
for long-term helium and CO₂ supply contracts. The strategy remains focused
on a balanced mix of spot pricing and long-term contracts to maximize value as
the Pinon Canyon Plant ramps up to full capacity.

CO₂ liquefaction remains on schedule for the second half of H1 2026. The
tie-in of the Jackson-27 well (with high CO(2) concentration of 98.3%) is
timed to coincide with the commencement of CO₂ sales, providing an
additional revenue stream for the project.

 

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

 

 

 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

 Phoebe Bunce

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

 Simon Johnson

 Louisa Waddell

 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. With an expanding global footprint, the Company
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 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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