Member Info for MCNol

@Kread, can you tell me where you have seen "Bluestar own print" and where it state £35K?

Todays prices for a trailer full of Helium is £126,242 – £151,491

Following the confirmation of first spot-market sales on March 26, we can expect an update on the filling and dispatch of the second tube trailer...

The Jackson-27 well (testing at 98.3% CO²) is scheduled for tie-in during H1 2026. News regarding the commencement of liquid CO² sales would activate the project's secondary revenue stream, further offsetting operational expenditure...

While definitive farm-out agreements typically take months to finalise, we can expect interim updates regarding the data room, NDA signings, or formal site visits from interested parties regarding the ongoing development of the ITW-1 discovery...

All to play for here, onwards and upwards

Recent updates...

24/7 Operations Achieved (March 26)

First Sales Confirmed (March 26)

Integrated Plant Success (March 5)

CO² Monetisation (Ongoing)

Interim Results (March 26)

Southern Rukwa Farm-out Launch (March 26)

@Blubay, to state that it "didn’t work out at ITW-1" is a fundamental mischaracterisation of the technical results, I see you cannot help yourself in spreading FUD...

The ESP demonstrated a six-fold increase in flow rates, hitting 16,400 barrels per day. This proved the reservoir is highly connected...

Maximum helium concentrations hit 9.2%, with a sustained average of 5.4%. These are elite, top-tier global grades...

The operational performance was described as "consistent and reliable" with zero lost time over 450 pump hours...

Upon shut-in, the well quickly re-pressurised, indicating massive reservoir support and long-term production potential...

The claim that ITW-1 was a failure is logically incompatible with a 600% increase in flow and 9.2% helium peaks. These results are precisely why the company has officially launched its Strategic Farm-out Process and secured a 480km² Mining Licence...

As I stated a few weeks ago CenerTech are the most likely partner for the Southern Rukwa project.

China has a massive infrastructure footprint in Tanzania (e.g., the Bagamoyo Port and railway projects). CenerTech can leverage existing Chinese-led logistics and diplomatic ties in Tanzania to accelerate the 480$km² Mining Licence development, which Helium One (as a small-cap AIM company) might find more bureaucratically challenging.

CenerTech personnel operated the pump for over 450 hours with zero downtime. They have seen the flow rates (16,400 bpd) and the 9.2% helium peaks firsthand.

Since the Rukwa development relies on "water-driven" gas extraction, CenerTech's specialised pumping technology is already the proven solution for the project's unique hydrology.

Plus securing the Rukwa basin (the world's largest known primary helium resource) would allow CenerTech to bypass the US-controlled helium supply chain, providing a direct "upstream-to-downstream" advantage.

Recent updates...

Integrated Plant Operations (March 5)

First Sales Agreed (March 26)

Transition to 24/7 Operations (March 26)

Stage One Completion

Interim Results (March 26)

Indeed it is @Punter1234. They have the capacity of Goldfish, 3 seconds later they just repeat themselves...

@Blubay, really...get over yourself, C- for effort. Get yourself up to speed instead of spreading FUD and trolling people.

I appreciate that you cannot conceive of a person being more articulate and knowledgeable than you @Blubay, but believe me many on here are and regularly demonstrate it. There is no need to start throwing accusations about, just try harder...

I don't need to do that @Blubay, but you feel free to carry on..

USD/MC is a bulk helium price which is also expressed as USD/Mscf. MC is shorthand for 1000 Cubic Feet, the Mscf is for Thousand Standard Cubic Feet.

There are different pricing levels:

Contract Pricing, $500 – $600 USD/Mscf for long-term institutional agreements.

Spot Market Pricing, $1,000 – $1,200+ USD/Mscf For immediate delivery.

Strategic/Specialist pricing, up to $2,000 USD/Mscf which is the current premium pricing driven by Middle East supply tensions.

With spot prices today currently exceeding $1,000/Mscf, the revenue potential per tube trailer at Galactica (holding ~170 Mscf) has significantly expanded compared to early-year estimates.

Nice try @Blubay, please stop your FUD we are all tired of it.

In July 2025, the Tanzanian Government formally awarded Helium One a 480$km^2$ Mining Licence for Southern Rukwa. Under Tanzanian law (and most global mining jurisdictions), an ML is only granted when a company demonstrates to the government that a project has the potential to be a viable commercial enterprise. You do not get a "Mining" licence for a project that is still purely "Exploration."

The most recent independent audit (updated June 2025) moved the project into the "Development" category. The report converted the geological findings into Contingent Resources. While the term "Reserves" is the final stamp of commerciality (reserved for projects with signed funding and off take), the CPR confirms that the helium is there in quantities that make sense to extract.

In the most recent technical update, Chairman James Smith stated:

"The successful completion of the ESP testing programme... further demonstrates the production potential of the southern Rukwa Helium Project."

By confirming that they can flow 16,400 barrels of fluid per day with 5.4% to 9.2% helium, the company has publicly stated that the technical requirements for a commercial development are now satisfied.

While a formal Final Investment Decision is the ultimate commercial trigger, the transition from exploration to an appraisal/development stage is technically complete.

@Slacker246, you post this comment every day; you have a fundamental ignorance of the distinction between subsurface exploration risk and economic appraisal. Asking "when" Rukwa will be "confirmed" as commercially viable is like asking when a house will be "confirmed" as a home; it ignores the fact that Helium One has already cleared the critical technical hurdles, demonstrating sustained high-grade helium concentrations (up to 9.2%) and commercial flow rates through Electrical Submersible Pump testing at ITW-1.

The project has already transitioned from "discovery" into the development planning phase; what remains is a regulatory and accounting sequence involving the conversion of resources to reserves via an updated Competent Persons Report and the finalisation of a farm-out agreement.

To treat commerciality as an elusive future event rather than a current engineering work-stream is to deliberately misread the entire lifecycle of the asset.

What it means for HE1…

The RNS confirms that high-concentration helium (potentially matching HE1’s 5.5%–9.2% range) is a repeatable regional phenomenon, not an isolated occurrence at Itumbula.

Rift’s success in securing a strategic partner increases the "Institutional Sentiment Index" for the region. This serves as a proof-of-concept for HE1’s ongoing farm-out process for the Southern Rukwa project.

If Rift is being valued at a premium by private partners, it suggests that HE1’s current market cap of £63.47m (at 0.625p) may significantly undervalue its 100% owned Tanzanian acreage, especially now that HE1 holds a Mining Licence.

Now that’s interesting “ Direct exposure to primary helium in a proven basin: Rift offers investors exposure to a primary helium exploration opportunity in the Rukwa Basin, where adjacent exploration and drilling success has helped validate a working helium system and materially reduce basin risk.”

Second Tube Trailer Arrival (Galactica)

The RNS dated 26 March 2026 stated a second trailer was expected "shortly." Given the elapsed period, confirmation of the trailer’s arrival and commencement of loading is the most imminent operational catalyst. This directly doubles the helium monetisation capacity from the Pinon Canyon facility, providing immediate revenue scaling.

CO2 Off take / Liquefaction Update

The Colorado facility is designed to monetise high-purity CO2 alongside helium. With 24/7 operations confirmed, an update on the installation of the liquefaction plant (H1 2026 target) or a signed off take agreement is a logical next step. This diversifies the revenue stream and reduces the operational break-even point for the US assets.

Rukwa Farm-out Teaser

Following the completion of ESP testing (9.2% He concentration), the company has formalised the farm-out process. An RNS regarding the appointment of a transaction advisor is expected.

Tanzanian Regulatory Update

Following the award of the 480km² Mining Licence, additional clarity on the environmental permits for the next phase of appraisal drilling at Itumbula may be issued.

I've been putting 2025 all year, thats the first time this year I put 2026 when I meant 2025...typical!

My criticism of using the misspelt "Rukwar" thread title was not at the spelling mistake, we all get that wrong at times. My comment was about the continued use of the thread without correction, by people who want to promote a subtle FUD narrative...

...nice try

The Mining Commission of Tanzania requires a Detailed Feasibility Study that includes sensitivity analysis (P90/P50/P10) to ensure the project remains viable even if flow rates or concentrations drop to conservative levels. The granting of the ML indicates that even at "realistic" levels, Rukwa is a viable commercial enterprise.