TIDMHE1

RNS Number : 8616K

Helium One Global Ltd

31 August 2023

31 August 2023

Helium One Global Ltd

("Helium One" or "the Company")

Operational Update - Appointment of Drill Crew

Helium One Global (AIM: HE1), the primary helium explorer in Tanzania, is pleased to provide an update on progress at its Rukwa (100% Operated) project area ahead of its Phase II drilling programme.

Highlights

   --    Fully appointed experienced drill crew 
   --    Rig now on Tai-C wellsite and approximately 90% "rigged up" 
   --    Camp mobilisation and preparation in process 
   --    Awaiting the remaining long-lead items for delivery, which are currently on schedule 
   --    On track for spud of Tai-C in the second half of September

The Company has now appointed a full drill crew in advance of the Phase II drilling programme. The skilled crew have been sourced through reputable, UK-based energy project management company, Zenith Energy ("Zenith"). The crew comprises a day and night shift in order to undertake 24-hour operations and also includes the appointment of third-party services personnel and an operator supervisory team. Helium One has also executed a contract with Container Concepts Ltd who are currently mobilising to site.

The rig is now approximately 90% "rigged up" at site and expected to be complete within the next few days. The Rig Manager, Night Drilling Supervisor and local rig crew are already on site and currently undergoing inductions and mandatory training prior to the commencement of drilling. The last of the remaining long lead items due are currently on schedule to arrive at site the second week of September.

Lorna Blaisse, Chief Executive Officer, commented:

"We are delighted with the continued progress that we have achieved in the lead up to spud. We now have an experienced crew in place to carry out our 24-hour drilling programme, the rig is almost completely rigged up at site and the last few long lead items will arrive shortly. We also recognise the contribution made by Zenith in assembling an experienced, first-class crew to drill this well. This is an incredibly exciting time for the Company as we approach the spud of Tai-C in the second half of September. The team has worked very hard to get us to this point and we look forward to the last few items required to fall into place."

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

Contact

 
 Helium One Global Ltd                         +44 20 7920 
  Lorna Blaisse, CEO                            3150 
 
 Liberum Capital Limited (Nominated Adviser 
  and Joint Broker) 
  Scott Mathieson 
  Ed Thomas                                    +44 20 3100 
  Nikhil Varghese                               2000 
 
 Peterhouse Capital Limited (Joint Broker)     +44 20 7220 
  Lucy Williams                                 9792 
 
 Tavistock (Financial PR) 
  Nick Elwes                                   +44 20 7920 
  Tara Vivian-Neal                              3150

Notes to Editors

Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences totalling more than 2,965km(2) across three distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.

The Rukwa, Balangida, and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. The assets lie near surface seeps with helium concentrations ranging up to 10.6% He by volume. All Helium One's licences are held on a 100% equity basis and are in close proximity to the required infrastructure.

The Company's flagship Rukwa Project is located within the Rukwa Rift Basin covering 1,899km(2) in south-west Tanzania. The project is considered to be an advanced exploration project with leads and prospects defined by a subsurface database including multispectral satellite spectroscopy, airborne gravity gradiometry, 2D seismic data, and QEMSCAN analysis. The Rukwa Project has been de-risked by the 2021 drilling campaign, which identified reservoir and seal with multiple prospective intervals from basin to near surface within a working helium system.

In July 2023, Helium One acquired their own exploration drill rig, an Epiroc Predator 220 oil and gas type rig, capable of drilling to depths of 2,400m. The rig was shipped to Tanzania in order to commence Phase II drilling operations.

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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August 31, 2023 02:00 ET (06:00 GMT)

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