Helium One Group (AIM:HE1) the Tanzania-focused helium explorer announced a significant helium discovery of 4.7% at surface on 5th February from the Itumbula West drill in the Rukwa Rift basin, Tanzania.
On 7th February the company raised £4.7 million pounds in a share placing and has been busy evaluating the mass of data recovered from the well to help management consider how best to monetise the find quickly.
In this interview, investors will hear about:
• How this project is unique in many ways
• Why drill results from Itumbula West will take some time to evaluate
• How the company will develop a new approach to deal with such a unique by faults and fractures discovery
• When the Company expects to monetise the asset Why dealing with a pure helium/nitrogen/hydrogen mix could make development more straightforward
• How the company did things differently with the Itumbula West drill
• What the hydrogen find means for the company
• What a helium plant could potentially look like
“I think the key point here is that we've obtained a huge amount of information and data out of the Itambula West One well. We're testing a very different play concept. We're testing faults and fractures, quite different to a conventional hydrocarbon oil and gas type structure. We really need to get as much data out of it as possible to evaluate it. The 4.7% is huge and I am comfortable it will be pushing us into those commercial realms” explained Lorna Blaisse, Helium One CEO.
Reasons to Add Helium One (HE1) to your Watchlist:
1) 1) HE1 is the only 'pure play' primary helium explorer on AIM
2) The Rukwa Basin helium find is unique in quality and potential
3) Successfully proved a new exploration method for helium
4) 4.7% pure helium discovery at surface Vs less 1% with other commercial finds
5) 2.2% ‘gold’ natural hydrogen represents a secondary opportunity
6) Tanzania Government are pro Helium exploitation
Lorna Blaisse, CEO of Helium One Group, was interviewed by Donald Leggatt, IR Media Director at focusIR.
Helium One (HE1)