Helium One Share News (HE1)

(Sharecast News) - Helium One announced the start of seismic data acquisition, with the mobilisation of vibroseis trucks and geophones to its wholly-owned Rukwa Project in Tanzania, on Tuesday.
The AIM-traded firm said it would undertake 150 kilometres of infill 2D seismic, targeting multiple trapping styles, adding that the interpreted data would define optimal well locations, and reduce its risk in drill targeting.

It said the seismic undertaking was the final technical input required before the start of its maiden drilling campaign in the second quarter.

Close-spaced seismic data acquisition would be focussed in areas of known prospectivity, to assist in providing greater clarity on the subsurface structures which the company believed had the highest chances of successfully discovering helium.

The board said the seismic campaign was fully-permitted, and benefited from "strong" community and governmental support.

"We are delighted to be able to progress to the next stage of the seismic campaign at Rukwa," said chief executive officer David Minchin.

"The data acquired will enable us to better visualise subsurface structures that could be trapping substantial helium resources and reduce geological risk ahead of our drilling campaign."

At 1440 GMT, shares in Helium One were up 2.86% at 7.2p.