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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: 1.325
Bid: 1.30
Ask: 1.35
Change: -0.05 (-3.64%)
Spread: 0.05 (3.846%)
Open: 1.375
High: 1.35
Low: 1.32
Prev. Close: 1.375
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IN BRIEF: Helium One Global Rukwa analysis shows promising reservoir

Wed, 09th Feb 2022 21:48

Helium One Global Ltd - London-based exploration & development company - QEMSCAN analysis on drill cuttings collected from Tai-1/1A wells at the Rukwa project area indicate good to excellent quality reservoir, showing clean sands and low clay content.

The study also confirms the presence of thick claystone units at Top Karoo Group and Base Lake Bed Formation, in addition to multiple intraformational claystone units.

"The identification of claystones within a predominantly reservoir rich and sandy sequence offers potential sealing horizons throughout our target stratigraphy. Claystone units are best developed at the Top Karoo Group and Base Lake Bed Formation, however several intraformational clays also allow the potential for stacked seals to develop within these formations and helium to be encountered on multiple horizons from near surface to basement - as it was at Tai," said Chief Executive Officer David Minchin.

"This analysis maximises the value from the drilling at Tai by providing additional geological data to reduce risk in planning our 2022 drilling campaign," Minchin added.

Current stock price: 11.14 pence

12-month change: up 47%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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