(Alliance News) - Helium One Global Ltd on Thursday said its chief executive officer stepped down with immediate effect to pursue other challenges, promoting its principal geologist as successor.
The Tanzania-focused primary helium explorer said Lorna Blaisse will replace the outgoing David Minchin with immediate effect, describing Blaisse as a skilled exploration geologist with over 17 years of experience in exploration and appraising oil and gas projects across Africa.
This includes experience in rift basin geology, having worked in the Lake Albert rift basin in Uganda, the Termit basin in Chad, alongside operational experience managing and delivering exploration campaigns across central and east Africa.
Helium One Global said Minchin has agreed to remain available to the company in the short term to ensure an orderly transition.
"On behalf of the board I would like to thank David Minchin for his dedicated service over the last two and a half years. David has grown and developed the company during his tenure as CEO, increasing our operational capability and expanding our geological knowledge of the Tanzanian helium systems," said Non-Executive Chair Ian Stalker.
"He leaves us in a strong position - fully financed and with an excellent management team in place - to execute our 2023 drilling campaign and to further grow the company to become a strategic supplier of helium to a constrained market."
Minchin added: "With Helium One fully funded for drilling at Rukwa and rig contract negotiations ongoing, it is an appropriate time for new leadership to come to the company and take ownership of the 2023 drilling campaign.
"Although disappointed that I will not be a part of the team that ultimately delivers this, I am happy that I leave the company in a strong position. Helium One has an exceptional management team and board in place and is fully funded to move forward and deliver its strategy."
Shares in Helium One Global were down 1.3% to 5.63 pence each in London on Thursday morning.
By Greg Rosenvinge, Alliance News reporter
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Helium One (HE1)