Helium One (AIM: HE1) (“Helium One” or “the Company”), the primary helium Company with exploration licences in Tanzania is pleased to announce the Company’s audited results for the year ended 30 June 2022.
Within the period:
· Completion of Maiden drilling programme, delivering a proof of concept and enabling the Company to de-risk the Rukwa Basin
· Working helium system demonstrated at Tai-1/-1A with the presence of good quality reservoirs, thick sealing units and multiple helium shows
· Commencement of Phase II exploration programme, providing the Company with the best information available to inform the planning and targeting for the Phase II drilling campaign
· Significantly strengthened management team
· Licence renewals and licence relinquishments concluded, enabling the Company to focus on more prospective remaining acreage, as well as saving capital
· Signed Memorandum of Understanding with Exalo Drilling S.A. for the supply of a drilling rig
· Letter of Intent with Baker Hughes for the supply of integrated wellsite services
· Phase II drilling programme planned to commence Q1 2023
Ian Stalker, Chairman, commented:
“This was a significant year for the Company as we completed our first two exploration wells in Rukwa and significantly de-risked the Rukwa project by identifying a working helium system at our Tai prospect. As Phase II exploration moves towards drilling, with the potential to prove up what we believe to be a world class helium province, Helium One is able to leverage the knowledge and experience of the team of experts that have joined us over the period allowing us to move more confidently into the next phase of our development.
“I would like to thank all our staff, shareholders, local communities and the ministers and Government of Tanzania for their continued support as we enter what will undoubtedly be a very exciting period for the Company and deliver what we hope will be a commercial discovery at Rukwa.”
David Minchin, CEO, commented:
“The last year has been an incredibly busy period for the Company delivering our first drilling programme and building on the data gained from that with our Phase II exploration programme. This has provided us with an exceptional dataset from which we have planned our Phase II drilling programme, targeted to commence in Q1 2023.
“As a team we are very excited about the year ahead, returning to Tai to target the intervals that we were unable to evaluate last year and with a view to confirm a discovery that we believe can unlock the value of an entire province.
“I would again like to thank all our stakeholders for their continued support and look forward to providing further updates in due course.”
A copy of the Annual Results is available on the Company’s website, www.helium-one.com.
Contact
Helium One Global Ltd
David Minchin, CEO
+44 20 7920 3150
