Why wait for EWT when HE1 advancing desktop work, to compile resource estimates and subsurface modelling28 Mar 2024 23:33
The company now intends to carry out a more extensive and detailed extended well test (EWT) on the same well in the third quarter of 2024.
It is now also advancing desktop work, to compile resource estimates and subsurface modelling.
Helium One also revealed it is starting talks with potential vendors for production facility engineering.
Liberum, in its note to clients, said: "HE1 [Helium One] continues to evaluate the success at Itumbula and aims to achieve commerciality at the earliest opportunity.
"While still early days, the DST results are highly encouraging in our view, and a subsequent EWT may provide the potential to fast-track production and the company may engage with suitable off-takers in a success case.
"The company also reserves the optionality to deepen the Tai-3 well further into the basement to evaluate the helium potential, which we see as a quick way to prove up further value across HE1βs asset portfolio."
Desktop works can arrive anytime soon π
GLA ππͺππ