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Pin to quick picksHelium One Share News (HE1)

Share Price Information for Helium One (HE1)

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Share Price: 0.71
Bid: 0.69
Ask: 0.73
Change: 0.015 (2.16%)
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Open: 0.695
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IN BRIEF: Helium One begins drilling at Itumbula

Mon, 08th Jan 2024 11:31

Helium One Global Ltd - Tanzania-focused helium explorer - Says drilling commenced on Saturday at the Itumbula West-1 well. In December, Helium One managed to raise GBP6.1 million from a placing and subscription of 2.42 billion new shares at 0.25 pence each to support drilling at Itumbula. The company says that drilling will target two fault zones which are thought to contain elevated concentrations of helium following a data-gathering project at the Tai-3 well in December. Drilling will also involve an "open hole well test" to measure gas shows using Geolog's mud logging services. Once these have been evaluated, Helium One may take further, downhole samples. The company expects the process from initial spud to the completion of mud logging and well testing to take around four to five weeks. A field pressure-volume-temperature specialist will be on site to measure helium gas samples, and Baker Hughes Co will provide service for wireline, fluids and cementing.

Chief Executive Officer Lorna Blaisse says: "This prospect demonstrates the potential to yield some positive results and, having the ability to both drill and test a fault play, provides us with every opportunity of giving it the best chance of a successful outcome. We look forward to making further announcements in due course as we drill, log and test the well".

Current stock price: 0.23 pence each, down 7.5% in London on Monday morning.

12-month change: down 96%

By Hugh Cameron, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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28 Mar 2022 12:20

IN BRIEF: Helium One narrows loss; prepares for "ambitious" programme

Helium One Global Ltd - London-based helium explorer in Tanzania - Narrows pretax loss to USD1.8 million in the half year that ended December 31 from USD3.5 million a year before. Books no revenue in either period. Helium says it delivered an "aggressive" exploration programme at the Rukwa project in Tanzania during the six months. Adds it has now moved on to the second phase of this exploration. Looking forward, company says it is in a "strong" position to deliver "another ambitious exploration programme" and deliver a discovery at the Rukwa basin.

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UK shareholder meetings calendar - next 7 days

Tuesday 8 March 
Anglesey Mining PLCGM re delisting
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Driver Group PLCAGM
Redx Pharma PLCAGM
Schroder European Real Estate Investment Trust PLCAGM
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MTI Wireless Edge LtdEGM re remuneration, management services
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CYBA PLCGM re fundraising for Narf Industries acquisition
Helium One Global LtdAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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(Sharecast News) - Tanzania-focussed helium company Helium One reported a loss before tax of $5.16m (£3.81m) in its annual results on Wednesday, widening from $2.26m year-on-year.

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IN BRIEF: Helium One Global Rukwa analysis shows promising reservoir

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