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What we do know is there is a massive drill coming up and one successful drill will de-risk a lot of the prospect. All these pieces are coming together and the CEO is extremely upbeat and excited. Who cares if it did do to 8.50p fleetingly. From here the potential upside is staggering. Sorry but I stand by the consolidation principle

The longer the consolidation the stronger the rise when we move

News will come soon enough and when it does we'll be up and running - it's the helium purity that does it

Even 5p is 80% and we've been at this level all week

What you think everyone got in at 5p - well that's nonsense

8 min to go blue....

Big weeks coming 😋

stop being a *****er investorace

All depends on when the pad is finished - we were told mid August. Add two weeks for rig set up so very late August or very early September. Target depth estimated to take four weeks to depth so complete by Sept end. The rig should arrive next week and we will be updated as we all know. In two months we will be close to depth on our first target which is nuts

I'd say the market is very slow to catch on here considering that we could potentially provide half the world with our high purity helium for one year. Wait til the traders pile back in a positive RNS or a 5-10% plus move which is over due here

Amazing share....well done all. Had my eye on it so many times but ultimately it keeps going up

Some folk are prob ooking at this thinking I prob got until later next week to move in and good luck to them. However, we know that the rig onsite update in whatever form is closed now....

Oh come on no one was calling 20p this month. Come spud it's possible. Personally I think 15-18p is achievable. No worries anyway as we're all set to make some money from 9p. GLA

We certainly don't have to wait for an RNS for this to move as we know one is coming....as is the helium spud....is today the day to move up???

The expectation is that this time round the drilling work will be far more definitive.

And if, as Blaisse hopes, Helium One does make a discovery, the potential scale is likely to be very significant.

At the end of May a competent person’s report reckoned that there might be as much as 2.8bn cubic feet of helium at Tai alone, an amount that equates to around half of the current global demand.

There are other prospects too, in Rukwa, although Tai has consistently been identified as the lowest geological risk and highest chance of success. Nevertheless, the titillating prospect remains that there could be even more helium under licence at Rukwa than even the competent person’s report modelled.

But one thing at a time.

The key is to get cracking at Tai-C, and see how things develop from there.

If a discovery is made, investor interest is likely to be huge and the potential for a re-rating very high.

After all, the global demand for helium is at an all-time high, and Helium One is the primary helium explorer in Tanzania. Almost all the other helium that gets produced is produced as a by-product of hydrocarbons.

And if a discovery is made, how long would it take to move it to production?

The answer is: not too long. Tanzania has been a reasonably benign jurisdiction to operate in as far as Helium One is concerned, and the government is keen to secure a strategic position for the country as one of the major players in helium production.

So, changing Helium One’s exploration licence to a production licence is reckoned to be a relatively straightforward process.

Production, says Blaisse, could come as soon as 18 months after a discovery.

So this is a company that could get very big, very quickly. Watch this space.

“The Tai-1/-1A well was very encouraging, although we weren’t able to reach our total depth nor run a full set of wireline logs. We did have shows, but unless you’ve got wireline log data to determine pay zones, then you’ve no way of quantifying your results.

“We’re anticipating a September spud,” says Blaisse.

“First we need to crew the rig, complete the civils work and prepare the wellsite.”

That work includes upgrading access roads and placing a camp close to the wellsite. But it won’t take long.

The company is fully funded for the planned well, following a £10mln fundraise in December last year, and there may even be enough for a second well, depending on outcomes.

“Fundamentally, we want to secure a discovery at Tai,” says Blaisse.

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Helium One will shortly be drilling at Rukwa, and this time with its own, specialist rig

Published: 10:57 20 Jul 2023

Written by: Alastair Ford

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Helium One Global Ltd

AIM:HE1

OTCQB:HLOGF

Helium One Global Ltd - Helium One will shortly be drilling at Rukwa, and this time with its own, specialist rig

Shares in Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) jumped by not far short of 100% early in July after the company announced the acquisition of a drill rig.

Ownership of the rig will allow the company it to set its own terms when it comes to drilling the potential huge Rukwa project in Tanzania later this year.

Hitherto, rig availability has been tight, and getting the right kind of rig for the job has been even trickier.

“Everybody recognised the challenges we faced in Tanzania getting an oil and gas type drilling rig,” says Lorna Blaisse, who was appointed chief executive of the company in February.

Prior to her promotion, Blaisse was Helium One’s principal geologist, so perhaps more than anyone she knew what was at stake, following the mixed results of the first round of drilling.

“We knew that going into the second round of drilling we would need to have a robust rig,” she says.

“The sale of this rig came onto our radar a couple of months ago and we acted quickly.”

Previously Helium One had stated its intention to start a new round of drilling by the end of the third quarter of this year, and the acquisition means that that deadline will now be met.

The rig is due to arrive at site shortly, and the expectation is that the Tai-C well will be drilled in September.

Crucially, unlike the rig used in the last campaign, this new rig is one that was designed for use in the oil and gas industry.

The most obvious difference between this rig and a mining rig that was used before is that it is much more powerful.

Mining rigs are primarily designed to bring up core from large ore bodies in competent rock, which means that the borehole diameter is a much slimmer design. Conventional oil and gas wells are drilled with a wider borehole diameter, as they typically drill through softer rock, and a larger hole diameter is required to improve wellbore stability.

The new Helium One-owned rig will drill the target reservoir section in standard 8.5inch hole, as opposed to the 3.5inch hole drilled in the previous round of drilling. It is a larger rig with a top drive system and, can therefore drill more efficiently.

The new rig is capable of drilling down to depths of between 2,000-metres and -2,400 metres, although the Tai prospect that Helium One is aiming for is reckoned to sit at around 1,200 metres.

The plan is to spend 30 days drilling, including logging and down-hole sampling, and then to wrap it up and assess the results.

Suggests news next week - let's see

Brilliant stuff - 'the rig is due to arrive shortly'

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Into the 10s by tomorrow surely...