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I think from memory they were 90% confident of extracting 17.5 Bcf of helium.

We obviously don’t know just how big the southern Rukwa Helium Project is, but we do know:

•there was continuous helium shows from surface to basement at Itumbula.

•helium concentration levels exceeded 7% whilst averaging over 5%.

•the EWT was quoted as being ‘all we could have hoped for’, the EWT delivered’very successful and positive results’ and most tellingly that the discovery was ‘of global significance’.

•we also know the Tai CPR had a 2U estimate of 2.8 Bcf and a 3U estimate of 7.1 Bcf.

•as a reference we also know from Noble Helium their shallow drilling in Northern Rukwa has a CPR with a P90 estimate of 3.4 Bcf, a P50 of 18.2 Bcf and a P10 estimate of 77.8 Bcf.

Now bearing in mind one billion cubic feet (Bcf) of helium is worth around $500m, from everything we know to date Rukwa is indeed one of the biggest helium prospective resources in the world, if not the biggest. As such it looks from every metric it’s going to be a highly valuable resource.

Toffers, if you don't want posts removed post facts not a traders warped view. You infer corruption in Tanzania but as outlined below, the facts are Australia has some of the biggest miners in the world invested in Tanzania. https://www.thecitizen.co.tz/tanzania/business/australia-invests-sh10-trillion-in-tanzania-mining-industry-4831198

You'd also know Noble have already been granted a Mining Licence, a prospecting one as they are years behind Helium One in Tanzania.

Finally you eluded to Noble working with education and universities. It's true and it's excellent work. But, who created this model? Well Helium One did. The first candidate to graduate from Tanzania at Oxford, you guessed it, placed there from Helium One!

Now I don't expect this post or any others from me to be removed. Why? Because I deal with facts.

Over the next 10 trading days we'll hear about the completion of Jackson #31 civils and that the drilling has started. In parallel we'll hear that work has commenced on the Jackson #04 location, with drilling scheduled to also commence in January.

We'll then hear about the further 3 approved wells are scheduled for this campaign.

We then have the results for the above and the tie in and production schedule (including the State 16 well that's already waiting tie in).

The last development well drilled that's fully funded will be the first well at Pegasus.

Then, revenue from the above will be used to fund an additional 9 wells at Galactica, and once in production all the above will be funding a further 9-14 development wells at Pegasus.

If all goes to plan, Helium One can expect around $6m revenue per annum by the end of the year from the Helium and CO2.

And with a Mining Licence to be announced in Tanzania for a discovery of global significance, with around another 30 development wells to be drilled, those who cannot see the potential here are in serious need of help, in my opinion anyway.

Od as already stated everything is on track in Colorado, that’s directly from BlueStar.

On the Mining License nobody knows for sure but the expectation from the brokers is that it’ll be awarded sometime this quarter.

An exciting few weeks ahead.

Cold but fine in Colorado, everything on track for the first of our development wells to be drilled at Galactica in the next two weeks.

The attached is exactly where I see the SP in the coming weeks and months.

Happy new year to all.

https://www.share-talk.com/helium-one-presents-an-exciting-opportunity-as-it-nears-production-status/

Blubay I would agree, i think the risk is reduced not increased. Also remember the first development well at Pegasus is also funded, as well as $2.55m allocated in the budget for tie backs, installation and processing costs. Although I think HE1 have actually inflated what each well will cost, they've actually included a contingency budget as well.

In short, I'm more than comfortable with the USA being fully funded.

Yes you can say the reserves are estimated, as with any drill, but that also means they could be revised up as well as down..

You would think those in doubt who chose not to invest would simply invest elsewhere, but for whatever reason prefer to spend their holiday time posting on a share that's of no interest to them. Some people are just strange.

All I know is that it's already been well over three months since the Mining Licence and ESIA applications were submitted and with a dedicated team allocated by the Tanzanian authorities to assist Helium One in processing the application the Tanzanian authorities clearly view the southern Rukwa Helium Project as being commercially viable and want to get it approved in the shortest time possible. The government and Mining officials have continued to make positive statements regarding Tanzania becoming a major helium producer and that complements Lornas statement that the discovery is of global significance.

In parallel to have 5 development wells fully funded for Galactica in the states, and the 6 in total fully funding an additional 9 development wells, with the first development well fully funded for Pegasus, that will (subject to results) give revenue from 16 development (production) wells to fully fund an additional 14 planned development wells at Pegasus. So a potential 30 production wells to be drilled in the states giving a potential $6m per annum to Helium One, $30m over five years!

As and when Rukwa is approved another potential 30 development wells, a JV and or offtake agreement with a major...

This has the potential to be worth far more than £50m as a Company, and it all happens in 2025.

Just my personal view.

The Galactica project contains confirmed discovery wells in the region flowing up to 6% helium (average of 3%) as free gas and are well positioned close to existing helium infrastructure.

· The Company's internal gross resource estimates, assuming a P50 Helium concentration of 3%, are 675 million cubic feet

· Full development programme for the Galactica Project will require the drilling and tie-back of 15 wells, as well as commissioning of the relevant He and CO2 processing facilities

· Initial six development well programme planned for Q4 2024 which are expected to be on stream and producing in H1 2025.

Investors should remember the above is estimates from Galactica ONLY and with CO2 revenue of $3m per annum is expected.

Then, the same roll out is expected for Pegasus, around another 15 wells, with potentially another $3m revenue per annum, obviously depending on results from the development wells.

The initial RNS announcement stated 6 wells were fully funded from HE1 for Galactica but that's not strictly correct. 5 wells are for Galactica and with State 16 awaiting tie in its these 6 that will fund the additional 9 wells.

The additional well funded by HE1 will actually be the start of the Pegasus project and HE1 can choose their preferred well from an initial 6 wells.

Then there is another 62,000 acreage for both companies to look to expand both projects.

This is the reason BlueStar deem this a world class asset.

Helium One stated in the AGM the Tanzanian authorities had allocated a dedicated team to assist them with their mining license application in Tanzania which increases the chances of approval. A dedicated team can provide specialized expertise, streamline the application process, ensure that all required documents are submitted correctly and on time, and helps navigate any complexities or challenges that may arise during the application process.

Additionally, having a dedicated team to liaise with the relevant authorities can help build rapport and enhance communication, leading to a smoother, quicker and more efficient approval process.

It is abundantly clear to me that the Tanzanian authorities want this mining license approved and for production to commence as soon as possible.

Others may disagree, some undoubtedly want a lower entry point and there are those who are simply gambling on the SP to fall.

With not being able to release the details of the Rukwa discovery and coupling the announcement with further dilution for the BlueStar farm in, Helium One have not made this an easy journey for many. However, at the end of every difficult journey is a wonderful view. I believe all that can show the mental fortitude to go the distance and arrive at the destination will see all they have hoped for. Just my thoughts.

A happy and prosperous new year to all invested.

Moorscloud I believe the main reason they did it was just to issue a fund raise. Despite what others are saying I believe the initial raise will be at a substantial discount. It isn’t until after Phase 1 results that II’s in the states will get involved along with majors.

As for Helium One, they don’t need any cash for at least two quarters, maybe longer. By then they will be generating revenue, the ESIA and Mining License will be approved and the Feasibility Study and CPR will be out. That puts them in a very strong position for taking debt, or an offtake partner, or a JV, most probably a combination of all three.

If a consolidation happened here, I think it’ll be in 2026, if it happens at all.

All in my opinion.

Whilst they have a lot of work to do in getting the new opportunity tested and the option completed my understanding is that the recent raise, plus Helium Ones contribution is all completely rung fenced for both the Galactica and Pegasus projects. Therefore if they do progress the other opportunity it will be through additional funding, debt or with a JV partner. Therefore, no impact to Helium One, unless BlueStar raise the monies required, and that could lead to BlueStar having early revenues to advance our projects earlier.

Although BlueStar recently announced a transformation opportunity it’s important not to underestimate the importance of the Galactica and Pegasus projects.

The company stresses that the execution of this agreement does not alter its focus to bring the world-class Galactica/Pegasus helium project in Las Animas into production during H1 2025, “nor our intent to advance ongoing commercialisation activities across our key helium resources in Las Animas County,” Spry said.

As part of those activities, drilling is expected to start, subject to weather, in mid-January 2025 at Jackson #31 followed by drilling at Jackson #04. A further 3 approved wells are scheduled for this campaign in the Galactica helium project.

15 development wells to be drilled at Galactica with a further 10-15 to be drilled at Pegasus, with further expansion planned in the future.

With carbon dioxide discussions progressing well there’s a potential of over $5m per annum.

In parallel we have a discovery of global significance in Tanzania with the southern Rukwa Helium Project. A Mining License to be approved, the resources to be announced, a CPR and a major to be announced as an offtake and or JV partner.

2025 is going to be transformational for HE1. With Galactica, Pegasus and Rukwa Helium One could well be looking at 60 production wells in operation.

Momentum is relative.

Momentum is drilling starting in two weeks for Phase 1 in Colorado with the first of the 15 development wells to be drilled at Galactica.

Momentum is the 10-15 development wells in Colorado to be drilled for Phase 2 at Pegasus.

Momentum is the ESIA to be approved for the southern Rukwa Helium Project.

Momentum is the Mining Licence to be approved for the southern Rukwa Helium Project.

Momentum is the 20-30 development wells to be drilled for the southern Rukwa Helium Project.

Momentum is the major being announced as the offtake and or JV partner.

And Momentum is finding out how many billions of cubic feet of helium that Helium One has, and how much that equates to as revenue.

A happy, healthy and wealthy new year to all holders.

Cat I've done the same and am even in dialogue with Trent at BlueStar. Clearly Pete has some sort oc superiority complex, so like you I'll leave him to it and keep my delusional fantasy posts to myself.

Pete, just to respond to your earlier post, a section of which read:

'not assisted by may of the ludicrous and unreaslitic, baseless and in some cases pure fantasy predictions and projections from the more deluded and optimistic of posters. Who and how many were telling us that the FS would be out before the ML approval'

Firstly I think you make a valuable contribution to the board, as does Cat, Bluebay and countless others, but that doesn't mean I agree with everything that's posted, and this is one such occasion.

I really don't know why you feel the need to be so condescending to other posters, particularly fellow investors who are only trying to help other investors. I am one of the individuals who you elude to in your post, and yes I was wrong in stating the Feasibility Study would be coming out before the Mining Licence was approved, as did others. But you don't know the reason why this was stated. Certainly for myself (and I'm sure for others) we wanted to know why the FS, or at least the resource estimates were not released so sought an answer. As the company were unresponsive myself (and I'm sure others) contacted the broker. The broker explicitly stated the FS was not released because it was incomplete. It was completed enough to get the ML approved but the full document would be finished the end of November and released to the market early December. It was for that reason I posted on it, and for that reason I asked the question to Lorna yesterday would they be releasing it. Upon getting her answer there's no other way to put it, their broker lied. I don't know why, he could have easily said I can't discuss it, or given the answer Lorna did, but he didn't.

So you call it ludicrous, baseless, fantasy etc if you want. I just call it being lied to.

Anyway, I like to think I too contribute some value to the board, so thought on this occasion I should defend myself, and others.

Ramble over.

Put it this way, would Helium One be doing a CPR on the southern Rukwa Helium Project if their discussions with the Tanzanian authorities didn't lead them to think it's a question of when rather than if they get the Mining Licence?

Join the dots people.

Blubay your illustration is very much akin to my thoughts although I sincerely hope the southern Rukwa Helium Project is more than a $300m discovery, but your example does show what a wonderful position Helium One would find themselves in.

Mj if you're going to post on here to ramp other shares whilst trying to trash Helium One then at least try to fo some research, else you just look an idiot.

Firstly if you include the Carbon Dioxide (which you conveniently omitted) it's actually $15m revenue after 5 years and if you actually read the RNS it's cost far less than the $10m you state it has. The first 6 wells that are fully funded including tie ins and production costs will fund the additional 9. You also fail to mention this is just Phase 1, Galactica. Phase 2, Pegasus will be of similar size, funded from Phase 1 revenue, and both are highly likely to expand further, so $30m revenue from around a $7m investment looks good business to me.

Secondly from Rukwa, again if you had the ability to read and do some research you'd know this will be funded through debt. Offtake and or JV.

Your report reads...must try harder.

Bluebay as this is a discussion board I can state my opinion. Whilst we do not have all the facts, based upon all my research, the Tai CPR, the successful EWT, the government statements stating they believe they are going to become a global helium player, the budget allocated suggesting at very least it’s going to be a mid range plant and the Helium One statement this discovery is ‘of global significance’, I think it’s perfectly reasonable to think the helium recovered will be in the billions of cubic feet.

I really don’t care what you think. If you believe it’s insignificant then good for you.