Last checked at 16 Mar 2021 07:00
16th March 2021
Helium One Global Ltd
Commencement of Seismic Acquisition and Appointment of Principal Geologist
Helium One (AIM: HE1) ("Helium One" or "the Company"), further to its announcement of 18 February 2021, is pleased to announce the commencement of seismic data acquisition with mobilisation of vibroseis trucks and geophones to its Rukwa Project (100%) in Tanzania.
Highlights
· Mobilisation of data acquisition team, vibroseis trucks and geophones.
· 150km of infill 2D seismic targeting multiple trapping styles.
· Interpreted seismic data will define optimal well locations and reduce risk in drill targeting.
· Final technical input prior to commencement of Helium One's maiden drilling campaign in 2nd quarter 2021
Close spaced seismic data acquisition will be focussed in areas of known prospectivity to assist in providing greater clarity on the subsurface structures which Helium One believe have the highest chances of successfully discovering Helium. The seismic campaign is fully permitted and benefits from strong community and governmental support.
Growth of Management Team
Helium One is also pleased to announce the appointment of Lorna Blaisse as Principal Geologist. Lorna is a skilled petroleum geologist with 15 years' experience in exploration and appraisal across Africa. She has direct experience of rift basin geology, conducting work in the Lake Albert Rift Basin in Uganda, as well as operational experience managing successful exploration campaigns in North and East Africa.
As Principal Geologist, Lorna will assist with day-to-day supervision of the drilling and seismic programme, allowing current Technical Director Josh Bluett to step back into an advisory role. The appointment will allow Helium One to bring seismic interpretation in-house granting better control over our geological modelling of the basin.
David Minchin, Chief Executive Officer, commented:
"We are delighted to be able to progress to the next stage of the seismic campaign at Rukwa. The data acquired will enable us to better visualise subsurface structures that could be trapping substantial helium resources and reduce geological risk ahead of our drilling campaign.
"The appointment of Lorna Blaisse as Principal Geologist will allow us to bring the interpretation of this data in-house, giving us greater control over our modelling of the basin and optimising our drill targeting.
"This appointment, along with the recent appointment of Canaccord as Joint Broker, demonstrates the increasing maturity of the Company as we expand our technical and market reach."
For further information please visit the Company's website: www.helium-one.com
Contact
Helium One Global Ltd David Minchin, CEO | +44 20 7920 3150 |
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Beaumont Cornish Ltd (Nominated Adviser) James Biddle Roland Cornish | +44 20 7628 3396 |
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Canaccord Genuity Limited (Joint Broker) Adam James | +44 20 7523 8000 |
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Peterhouse Capital Limited (Joint Broker) Lucy Williams | +44 20 7220 9792 |
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Pello Capital (Retail Broker) Callum Hill | +44 20 3700 2500 |
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Tavistock (Financial PR) Nick Elwes | +44 20 7920 3150
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Notes to Editors
Helium One has identified a globally unique, large-scale, high-grade, primary helium project in Tanzania with the potential to become a strategic asset in resolving a supply-constrained market.
Helium One's assets are located within the rift basins on the margin of the Tanzanian Craton. Through Helium One's subsidiary companies Gogota (Tz) Limited, Stahamili (Tz) Limited and Njozi (Tz) Limited, the Company has secured 18 Prospecting Licences covering more than 4,512 km² in three distinct project areas: the Rukwa, Balangida and Eyasi projects. These are located near surface seeps with helium concentrations ranging up to 10.5% He by volume.
The Rukwa Project is located within the Rukwa Rift Basin covering 3,448km2 in south-west Tanzania. The project is considered to be an advanced exploration project and the company has identified 21 prospects and 4 leads based on historical drilling, reprocessed seismic lines, high resolution gravity survey, and surface seeps analysis.
SRK Consulting have reported a 'Best Estimate' Un-risked Prospective Resource of 138 Bcf (2U/P50) for the Company's Rukwa Project, meaning that the project has potentially strategic global implications with the ability to significantly resolve helium supply/demand issues.
All Helium One's licences are held on a 100% equity basis and are in close proximity to the required infrastructure.
Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1.