REG - Helium One Global Ld - State-16 Well, Galactica Project Update

Helium One GlobalAnnouncement

06/03/2025 07:15

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RNS Number : 6172Z  Helium One Global Ltd  06 March 2025

6 March 2025

 

 

Helium One Global Ltd

("Helium One" or "the Company")

 

Significant Increase in Helium Concentration at State-16 Well 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 ("the Galactica Project"), provides an update following the
Blue Star Helium (ASX: BNL) ("Blue Star") announcement issued today regarding
the Galactica Project.

Summary

·    New samples from the State-16 well show a helium concentration of
2.17%, representing a material increase from the previously reported non
air-corrected average of 1.65%

·    The new samples also show 36.26% nitrogen and 61.56% carbon dioxide

·    The well head pressure was recorded at 10 psig during sampling, the
highest observed at the well to date, indicating encouraging reservoir
connectivity

·    Gas samples obtained from Jackson-31 still being analysed

 

Details

The Company is pleased to announce a significant increase in helium
concentrations measured at the State-16 development well at the Galactica
Project in Las Animas County, Colorado.

The State-16 well, which is part of the Galactica Project, was drilled in May
2024.  During the current drilling campaign, Blue Star have taken the
opportunity to re-sample gas from the well and have had the samples analysed
by Gas Analysis Service.

Blue Star previously reported lab analysis of representative reservoir samples
taken during flow testing which contained an average helium percentage of
1.65%, and up to 1.90% when air-corrected. The reservoir gas compositions were
approximately 1.65% helium, 28.05% nitrogen and 70.29% carbon dioxide from the
lab analysis and 1.90% helium, 28.54% nitrogen and 69.56% carbon dioxide when
air-corrected.

The latest samples, taken from the well head, demonstrate a significant rise
in helium concentration to 2.17% (not air-corrected). This increase is
attributed to the reservoir's natural equilibration process occurring near the
well bore.

The recorded well head pressure of 10 psig is a positive indicator of
reservoir connectivity and long-term flow potential.

The well is currently completed for tie-in to production facilities.

Gas samples from the recent Jackson-31 well are still being analysed.

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 has now flowed
significant quantities of helium to surface and has filed a Mining Licence
("ML") application with the Mining Commission ("MC") of the Tanzanian
Government and the MC have now offered the Company an ML consistent with the
ML application.

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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