Helium One commences drilling at the Rukwa project

Helium One

Helium One Global Ltd (LON:HE1) has announced the commencement of its exploration drilling programme at the Rukwa Project (100%) in Tanzania.

Highlights:

· Drilling has commenced at Tai; a ‘must drill’ three-way dip closure, upgraded by the Company’s recent 2D infill seismic

· Three well exploration programme targeting shallow trap structures to a maximum depth of 1200m

· Exploration drilling includes:

o  Micro gas chromatograph and mini mass spectrometer used to identify elevated levels of helium in mud and reportable as a helium show

o  Wireline logs to identify reservoir and seal units and to confirm pay zones in success case

o  Drill Stem Testing unit to attempt to flow helium gas samples to surface

· Each well will take circa one month to complete

David Minchin, Chief Executive Officer, commented:

“We are very excited to have commenced exploration drilling, continuing the advancement of the world-class Rukwa project.  The exploration programme is the culmination of five years of dedicated work with three holes testing three different styles of trap.  Each well will take roughly one month to complete with lessons learnt from the first well applied to refine and de-risk drilling of subsequent wells.

“Establishing a drill programme in the midst of a global pandemic is not without challenges and we are thankful to all Mitchell Drilling and Helium One team for their hard work in bringing this project to fruition.

 “We look forward to announcing results of our first well at what is a potentially transformative time for the Company.”

Drilling

Helium One commenced exploration drilling at its flagship Rukwa Project in Tanzania at 4pm local time on Saturday 12th June.  Rukwa is a globally unique, large-scale, high-grade, primary helium project in Tanzania with the potential to become a strategic asset in resolving a supply-constrained market.  SRK Consulting have reported a ‘Best Estimate’ Un-risked prospective recoverable helium resource of 138 Bcf (2U/P50), the largest listed primary helium deposit in the world, with helium measured in surface seeps at up to 10.6% He.

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Drilling has commenced at the Tai prospect, a faulted three-way dip closure concurrent with a gravity high which was upgraded from ‘low priority’ to ‘must drill’ by the recent 200 line kilometre infill 2D seismic campaign.  The prospect has been chosen as our first well because of the presence of stacked targets within a well-defined structural closure.  By focussing on stacked closures in our first exploration well, Helium One hopes to identify multiple zones with the highest quality seal potential to assist in the planning of subsequent wells.

Helium One’s maiden drilling campaign is the culmination of many years of study, growing from early work conducted with the University of Oxford Noble Gas Group to encompass data sets from Airborne Gravity Gradiometry, Macro-Seep sampling and analyses, soil gas surveys, satellite mapping and recent additional infill 2D seismic.  The Company plans a three well programme targeting shallow structures in close proximity to the Itumbula Helium Seeps.  Each well is planned to test a different trapping style, therefore providing information essential in de-risking our portfolio of prospects across the basin.

Drilling of the first well is expected to take approximately one month to complete and will produce valuable information about the subsurface.  Helium detection will be constantly monitored during drilling to identify helium gas shows from mud logging.  On completion, wireline logs will be run to measure formation properties downhole, as well as identifying any pay zones in the success case. Any discovery will be tested with a drill stem test to attempt to flow a sample of gas to surface for grade analysis.

For further information please visit the Company’s website: www.helium-one.com  

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