In addition to helium, the well has encountered a high concentration of hydrogen in the Lake Beds Formation over a 6m interval. Hydrogen shows continued to be encountered throughout the Karoo section and into Basement.
An increase in temperature was also recorded which suggests the movement of deeply sourced fluids migrating along the fault, which is likely liberating the helium. The helium readings were measured from the drilling mud using the Micro Gas Chromatograph and validated using the onsite portable Mass Spectrometer.
The well encountered elevated helium shows, over twenty times above background, whilst drilling through the Lake Beds Formation, Red Sandstone Group, Karoo and Basement targets.
The well has also encountered elevated hydrogen shows, over two thousand times above background, in the Lake Beds Formation and sufficiently elevated in the Karoo Group and Basement
“Elevated helium shows, over twenty times above background, have been consistently measured whilst drilling in the Lake Beds Formation, Red Sandstone Group, Karoo Group and Basement target”
Results to date are extremely promising way above average. The area is saturated in helium so we wait to see if it’s the sweet spot they’ve found. Possibly the largest helium reserves worldwide due to be confirmed.
It’s a bonus this stuff sells at 50-100x premium to Natural gas.
This is what’s concerning shorts. On further positive results they stand to receive serious third degree burns.
Positive results are more likely than not given the last update. Question now is have they hit the sweet spot and if they have we have many multiples to climb. Hugely north on further positives than south on any negatives. Thats shorts concern and they know it could be seriously bad for them.
Yes the helium alone runs at a 50-100x premium to natural gas and it is looking like HE1 is on the verge of confirming it has the world’s largest reservoir of it. If it is confirmed wow watch this space.
Rukwa hosts independently verified (SRK-2020) Best-Estimate Unrisked Prospective Recoverable Helium Resource (2U/P50) of 138Bcf, making this the largest known primary helium resource in the world. Helium concentrations up to 10.2% He have been recorded in surface seeps, representing incredible high grade compared to typical values of 0.1-0.3% associated with hydrocarbon by-product production.