Helium One Global Ltd Announces Jackson-4 Intermediate Section Drilling Complete
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Helium One Global Ltd Announces Jackson-4 Intermediate Section Drilling Complete
LONDON, GB / ACCESS Newswire / March 18, 2025 / Helium One Global (AIM: HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA ("the Galactica Project"), provides an update following the Blue Star Helium (ASX: BNL) ("Blue Star") announcement issued today regarding the Galactica Project.
Summary
Jackson-4 intermediate hole section successfully drilled to casing point
Casing set and cementing currently in progress
Once the cement bond log ("CBL") has been completed, the casing shoes will be drilled out into the targeted Lyons Sandstone Formation to well total depth ("TD")
Details
The Company is pleased to announce that the intermediate hole section of the Jackson-4 L4 3154 development well has been successfully drilled to 1,123ft (342m) measured depth ("MD") and casing is now being run.
Drill crew at Jackson-4 rig site after reaching TD of the intermediate hole section
After cementing casing, a CBL will be undertaken to confirm good bonding, followed by further drilling into the target Lyons Sandstone Formation to planned TD at the base of the Upper Lyons Sandstone Formation (production hole section).
At TD, the well will be wireline logged after which a well head will be fitted to provide flow and pressure readings.
It is anticipated that, upon successful testing at Jackson-4, the well will be completed, ready to be tied-in to production facilities.
For further information please visit the Company's website: www.helium-one.com
Contact
Helium One Global Ltd Lorna Blaisse, CEO Graham Jacobs, Finance and Commercial Director | +44 20 7920 3150 |
Panmure LiberumLimited (Nominated Adviser and Joint Broker) Scott Mathieson Nikhil Varghese | +44 20 3100 2000 |
Zeus Capital Limited (Joint Broker) Simon Johnson Louisa Waddell | +44 20 3829 5000 |
Tavistock(Financial PR) Nick Elwes Tara Vivian-Neal | +44 20 7920 3150 |
Notes to Editors
Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across two distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.
The Rukwa and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. These assets lie near surface seeps with helium concentrations ranging up to 10.4% helium by volume. All Helium One's licences are held on a 100% equity basis.
The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin covering 1,664km2 in south-west Tanzania. This project is considered to be entering an appraisal stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test, successfully flowed 5.5% helium continually to surface in Q3 2024.
Following the success of the extended well test, the Company has now flowed significant quantities of helium to surface and has filed a Mining Licence ("ML") application with the Mining Commission ("MC") of the Tanzanian Government and the MC have now offered the Company an ML consistent with the ML application.
The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL).
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 HLOGF.
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 [email protected] or visit www.rns.com.
SOURCE: Helium One Global Ltd
View the original press release on ACCESS Newswire
P.M.Smith--AMWN