Commencement of Phase 2 Seismic Campaign

RNS Number : 8196Q

Helium One Global Ltd

01 November 2021

 

01 November 2021

Helium One Global Ltd

("Helium One" or "the Company")

Commencement of Phase 2 Seismic Campaign

Helium One Global (AIM: HE1), the primary helium explorer, is pleased to announce the commencement of the Company's 2D seismic campaign as part of its Phase 2 exploration programme with mobilisation of survey and line clearing crews to its Rukwa Project (100%) in Tanzania.

Highlights:

· Commencement of 200 line kilometre 2D seismic campaign targeting northern extensions of known structural highs that act as a focus for helium charge

· Mobilisation of survey and line clearing crews commenced

· Planned acquisition of data across 'Deep' targets with the aim of maturing additional drillable prospects for the planned 2022 conventional drilling campaign

· Continued 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

· Strengthened management team with appointment of experienced international operators as COO and CFO

· Start of exciting Phase 2 exploration work on Helium One's de-risked Rukwa Basin

David Minchin, Chief Executive Officer, commented:  

"We are delighted to commence the 2D seismic campaign as part of the Phase 2 exploration at Rukwa with the mobilisation of 2D seismic over the northern extensions of the Tai and Itumbula structural trends.  Undertaking this campaign within the Rukwa Basin is not without challenge as we moved to get permitting, people and equipment in place ahead of the wet season.  We are pleased to have AGS return as our providers as we recommence our ground exploration activities.

"Sector confidence in Helium One's projects is demonstrated by our ability to attract top international talent into our team.  Our new COO and CFO have nearly 55 years' combined experience in various international operational management roles across Africa and Asia.  The appointment of Colin and Chris bring significant experience to our in-country operational team, their knowledge and leadership will allow us to continue to fast-track the development of Helium One's exploration portfolio as we move towards Phase 2 drilling in 2022.

"We would like to thank government departments and local communities for their continued support in helping us fast track mobilisation of our 2D seismic campaign. We are excited about our Phase 2 programme as we look to build our geological knowledge within the de-risked Rukwa Basin and continue the process of advancing the Rukwa Project towards discovery."

Commencement of Phase 2 Seismic Campaign

Helium One is delighted to have commenced its Phase 2 2D Seismic Campaign.  The seismic campaign will consist of approximately 200 line kilometres of 2D seismic targeting northern extensions of known structural highs that act as a focus for helium charge. 

Helium One has worked extensively with local communities, regional and national government to ensure this critical seismic campaign can commence before the onset of rains across southern Tanzania limits accessibility. Helium One is pleased to welcome back AGS to deliver the project following the successful execution of our Phase 1 Infill seismic campaign in Q1 2021.

The Company's exploration at Tai to date has indicated the presence of high quality seal and reservoir units, as well as identifying trapping geometries and charge focus away from known surface seeps.  The identification of a well-developed 130m sealing claystone unit at the top of the Karoo Formation in Tai-1A demonstrated sufficient sealing capacity to support the trapping of helium gas within the reservoir units below.  Modern seismic provides improved data resolution of the subsurface to allow the Company to map out structural and stratigraphic closures as well as provide indications of lithology to aid identification of reservoir-seal pairs.  By using this data, the Helium One technical team have been able to develop a seal presence and risk map across the basin.

By combining structural and stratigraphic information from 2D seismic data across structures known to act as a focus for helium charge, Helium One intends to enhance its prospect portfolio of 'drill ready' targets and identify trapping configurations across multiple plays.  Helium One aims to mobilise a conventional drilling rig to test new targets alongside a re-drill of untested targets at Tai in the Company's 2022 Conventional Drilling campaign.

Strengthening of Management Team

As stated in our corporate presentation, Helium One are continuing the process of developing the skills and expertise of our management team with the appointment of a new COO and CFO.

Helium One is delighted to have welcomed Colin Ivory to join the team as Chief Operating Officer.  Colin is a respected International Operations Manager with over 38 years proven experience in the oil and gas industry and has occupied various roles globally in challenging and remote locations. Over his long career Colin has conducted numerous drilling programmes across East and West Africa, South East Asia, Russia and Canada, leading to a comprehensive understanding of operational requirements of oil and gas exploration.  He also has extensive experience in Health and Safety, Environment, Social Sustainability, Security and Ethics.  

Colin's experience in the design and implementation of fit for purpose operations that manage cost-effective exploration with safe and successful outcomes make him a valuable addition to the team as we move towards Phase 2 drilling in 2022.

Helium One has also further strengthened its team with the appointment of Chris Eyre as Chief Financial Officer.  Chris is based in Tanzania and has detailed knowledge of local financial regulatory requirements acquired as Regional Financial Controller for Tata East Africa Region where he was responsible for group financial functions across Kenya, Uganda and Tanzania.  Chris has broad experience of commodity trading having spent 11 years as Group Financial Controller for Metmar in South Africa, who were acquired by Traxys. 

The appointment of a senior executive to a position based within Tanzania strengthens our operational base in country and allows us to commence the process of indigenising key project support functions within Dar es Salaam.

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

Contact

Helium One Global Ltd David Minchin, CEO	[phone]
Beaumont Cornish Ltd (Nominated Adviser) James Biddle Roland Cornish	[phone]
Canaccord Genuity Limited (Joint Broker) Adam James	[phone]
Peterhouse Capital Limited (Joint Broker) Lucy Williams	[phone]
Tavistock (Financial PR) Nick Elwes Tara Vivian-Neal	[phone]

 

Notes to Editors

Helium One was founded in September 2015 to explore, develop, and ultimately, become a producer of low-carbon helium, a critical material that is essential in many modern technologies.

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.  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 10.6% He by volume.

The Company's flagship 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 with a portfolio of leads and prospects defined by high-resolution gravity gradiometry, and modern and historic 2D seismic. The Rukwa Project has been de-risked by the 2021 drilling campaign, which identified reservoir and seal with multiple prospective intervals from basin to near surface within a working helium system. 

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 and on the OTCQB in the United States with the ticker HOGLF.

 

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