{"id":113132,"title":"Helium One’s drilling outcomes deemed ‘very promising’ by investment bank.","publisher":"Share Talk","author":"sharetalk","published":"2024-03-09T11:02:23+00:00","modified":"2024-03-09T11:02:23+00:00","canonical_url":"https://www.share-talk.com/helium-ones-drilling-outcomes-deemed-very-promising-by-investment-bank/","markdown_url":"https://www.share-talk.com/helium-ones-drilling-outcomes-deemed-very-promising-by-investment-bank.md","json_url":"https://www.share-talk.com/helium-ones-drilling-outcomes-deemed-very-promising-by-investment-bank.json","category":"Energy","categories":["Energy","Exclusive Interviews","Oil and Gas"],"tags":["David Minchin","EIA Certificate","ESIA approval","gas","HE1","Helium One Global","HLOGF","James Smith","Lorna Blaisse","Mozambique","oil","OTCQB","Rukwa project","Share Talk","Tanzania","ttis Oil & Gas"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/01/HE1-25TH-JAN-24.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"Investment bank Liberum expressed optimism about **Helium One Global Ltd (AIM: HE1, OTCQB: HLOGF)**‘s recent drill stem test (DST) outcomes from its Tanzanian project, [characterizing them as quite positive](https://www.share-talk.com/helium-one-global-ld-aimhe1-forward-operational-update/), but also emphasized the preliminary nature of these developments in progressing the project.\n\nThe eagerly awaited news from the Itumbula West-1 well indicated a minimum flow rate of 0.5 million cubic feet per day and a helium concentration of 4.7%.\n\nHelium One is planning a thorough extended well test (EWT) on this well in Q3 of 2024 to gain deeper insights.\n\nhttps://youtu.be/r8VLUWiQ_hI?si=cVYaikq-simtGNa-\n\nThe company is also progressing with desktop studies for resource estimation and subsurface modeling, and initiating discussions for engineering a production facility.\n\nLiberum, in a note to its clients, remarked: “HE1 [Helium One] is actively assessing the success at Itumbula and is focused on reaching commercial viability swiftly. The DST findings look very promising to us, and the upcoming EWT might enable faster progression to production and discussions with potential off-takers if successful.\n\n“The company is also considering deepening the Tai-3 well to explore more helium potential, a move we believe could rapidly add value to HE1’s asset base.”\n\nLiberum maintains a ‘buy’ rating with a target price of 20p, while the shares currently trade at 1.55p, a 13% decline."}