Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHelium One Regulatory News (HE1)

Share Price Information for Helium One (HE1)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1.10
Bid: 1.05
Ask: 1.15
Change: -0.025 (-2.22%)
Spread: 0.10 (9.524%)
Open: 1.125
High: 1.15
Low: 1.06
Prev. Close: 1.125
HE1 Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Commencement of Seismic Campaign

18 Feb 2021 07:00

RNS Number : 4883P
Helium One Group Ltd
18 February 2021
 

 

 

18 February 2021

 

Helium One Global Ltd

 Commencement of Seismic Campaign

Helium One (AIM: HE1) ("Helium One" or "the Company"), is pleased to announce the commencement of its infill seismic campaign with mobilisation of survey and line-clearing crews to its Rukwa project (100%) in Tanzania.

 

Highlights:

· Commencement of 150km infill seismic campaign will provide improved resolution over identified drill targets

· Mobilisation of survey and line clearing crews underway

· Over 30 people to be active on site including local staff, surveyors, clearing crew and support staff

· Good co-operation between government departments, local communities and Helium One Management has allowed critical seismic work at Rukwa to be fast tracked by the company

· Results of high-resolution seismic survey are the final technical input prior to commencement of Helium One's maiden drilling campaign planned for 2nd quarter 2021

 

The seismic campaign consists of approximately 150km of infill seismic acquisition targeting shallow trap structures identified from the interpretation of historic seismic and recent gravity gradient data. The infill seismic data will provide improved resolution on identified trap structures and assist in placing of drill collars for exploration drilling. The seismic campaign is fully permitted and benefits from community and governmental support.

Line surveying and line clearing crews, which mobilised today, will employ over 30 people in multiple crews to locate and clear lines for data acquisition. The process, which may take up to a month to complete, will clear vegetation for the laying of seismic geophone nodes as well as providing access for vibroseis-trucks and support vehicles during data acquisition.

Helium One has worked extensively with local communities, regional and national government to ensure this critical seismic campaign has commenced within the project schedule. This permits the Company to move forward with its plans for drilling at Rukwa, which will follow processing and interpretation of data from the seismic campaign. While the project benefits from over 1,000 kilometres of historic seismic data, additional infill seismic over high priority targets will allow better delineation of trap structures and improved confidence over drill targeting.

 

David Minchin, Chief Executive Officer, commented:

"We are delighted to be progressing our Rukwa Helium Project with this next phase of exploration. It's an exciting time for the team at Helium One and for all our stakeholders, as this will be our largest on site mobilisation for several years. Data gathered from infill seismic will prove invaluable in refining drill targets and improving our knowledge of potential trap structures, leading to what we hope will be a 'game changing' drilling campaign in Q2 2021.

"We look forward to continuing to work with local communities and government departments as we progress towards maiden exploration drilling. Our thanks go to the various Tanzanian ministerial departments, regional, district and ward officials for all the co-operation we have received. The broad range of support we have received from all levels of government and the local community bodes well for our planned drilling campaign later this year.

"Our work programme on the ground In Tanzania is timely and coincides with a significant growth in the Helium pricing as demand grows in critical areas. The last six months has seen the average price of helium imported to China reach $375/Mcf as Chinese demand for helium in manufacturing of semi-conductors and fibre-optic cables grows at 6% CAGR and in MRI demand grows at 8% CAGR. There is a requirement for a new source of primary helium to support high value 'next-gen' technological, medical and industrial applications which Helium One has the capacity to fulfil as we seek to develop our globally significant Rukwa deposit."

 

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information please visit the Company's website: www.helium-one.com

 

Contact

David Minchin

Helium One Global Ltd

+44 20 7920 3150

James Biddle and Roland Cornish

Beaumont Cornish Ltd

+44 20 7628 3396

Lucy Williams

Peterhouse Capital Limited

+44 20 7220 9792

Callum Hill

Pello Capital

+44 20 3700 2500

Nick Elwes

 

Tavistock PR

 

+44 20 7920 3150

 

 

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCDKOBKOBKDQBD
Date   Source Headline
22nd Mar 20247:00 amRNSBlocklisting Six Monthly Return
7th Mar 20247:01 amRNSForward Operational Update
7th Mar 20247:00 amRNSUnaudited Interim Results
7th Feb 20247:12 amRNSCompany raises £4.7m via a company led placing
5th Feb 20247:00 amRNSItumbula West-1 well flows helium(4.7%) to surface
26th Jan 20241:18 pmRNSHolding(s) in Company
25th Jan 20247:00 amRNSItumbula West-1 well has successfully reached TD
10th Jan 202410:59 amRNSHolding(s) in Company
8th Jan 20247:00 amRNSItumbula West-1 Commencement of Drilling
4th Jan 202412:14 pmRNSHolding(s) in Company
3rd Jan 20244:33 pmRNSHolding(s) in Company
3rd Jan 202410:30 amRNSHolding(s) in Company
3rd Jan 202410:27 amRNSHolding(s) in Company
2nd Jan 20242:51 pmRNSHolding(s) in Company
2nd Jan 20247:00 amRNSHolding(s) in Company
28th Dec 202311:56 amRNSHolding(s) in Company
27th Dec 20231:20 pmRNSHolding(s) in Company
27th Dec 20231:20 pmRNSHolding(s) in Company
22nd Dec 202312:49 pmRNSCorrection and TVR
21st Dec 20237:00 amRNSResult of Placing and Subscription Offer
20th Dec 20235:28 pmRNSProposed Placing of a minimum of £5.8 million
14th Dec 202312:35 pmRNSResult of AGM
14th Dec 20237:00 amRNSAnnual General Meeting update
5th Dec 20237:00 amRNSCompany update
30th Nov 20237:00 amRNSTotal Voting Rights
20th Nov 20237:00 amRNSTai-3 well results
15th Nov 20237:01 amRNSNotice of Annual General Meeting
15th Nov 20237:00 amRNSAudited Results for the year ended 30 June 2023
15th Nov 20237:00 amRNSOperational update
10th Nov 20237:00 amRNSOperational update
7th Nov 20237:00 amRNSTai-3 well successfully reached TD
31st Oct 20231:26 pmRNSTotal Voting Rights
30th Oct 20237:00 amRNSOperational update
16th Oct 20237:00 amRNSDrilling restarted on Tai-3 well
5th Oct 20239:19 amRNSOperational update
25th Sep 20237:33 amRNSTai-3 Commencement of Drilling
19th Sep 20237:00 amRNSBoard Appointment and Block Admission Application
12th Sep 20237:00 amRNSExercise of Options and Issue of Equity
7th Sep 20237:00 amRNSResult of Placing, Subscription and Retail Offer
31st Aug 20237:00 amRNSOperational Update – Appointment of Drill Crew
14th Aug 20237:00 amRNSOperational Update
11th Aug 20237:00 amRNSInvestor Presentation
7th Aug 20237:00 amRNSExercise of Options and Issue of Equity
4th Aug 20237:00 amRNSBoard Restructure
1st Aug 20237:00 amRNSAppointment of New Chairman & Board Changes
18th Jul 20237:00 amRNSExercise of Warrants and Issue of Equity
11th Jul 20237:00 amRNSExercise of Warrants and Issue of Equity
10th Jul 20237:00 amRNSOperational Update
7th Jul 20237:30 amRNSDrilling Rig update
22nd May 20237:00 amRNSNew CPR for the Tai Prospect

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.