Helium One exciting exploration campaign as they move into 2022 (LON:HE1)

Helium One Global plc (LON:HE1) Chief Executive Officer David Minchin caught up with DirectorsTalk for an exclusive interview to discuss the completion of a multispectral satellite spectroscopy identifying multiple helium anomalies across all three licence areas, movement in share price and what’s next for the company.

Q1: Sounds like a very exciting announcement, can you just talk us through your latest RNS?

A1: This was a fantastic way for Helium One to start the new year with the results of the multispectral spectroscopy study identifying abundant helium anomalies across all three license areas.

We are able to run this survey across the entire 4,500 square kilometres to license areas in Rukwa, Eyasi and Balangida, picking up surface anomalies using satellite technology to identify these things, very cheaply and very quickly.

What it’s done is it’s indicating widespread helium charge and migration across the entire basin. Now, in many ways, this is confirming what we already know which is that we’ve got a working helium system, however, it’s the occurrence of multiple anomalies of across all three basins which is really exciting for the team as we are seeing just how widespread and prolific this system might be.

We’re very excited to get this data, It’s going to really help with the interpretation of the 2D seismic, which we’ve got all of the data in and in the process of interpreting the new 2D seismic now. It’s also going to really help with the planning as we work out our programme for 2022 and beyond to bring Eyasi and Balangida up to a resource level.

Q2: Does this change the project fundamentals in any way?

A2: The fundamentals are still the fundamentals. We are the largest primary helium company in the world, we still have the evidence of high grade helium seeps coming up to surface, up to 10.5% in a nitrogen carrier gas, meaning that we’re able to produce helium which isn’t going to be associated with hydrocarbons.

That’s going to become increasing important as we transition into a green economy and I think people shouldn’t really underestimate the importance of that because this transition is going to happen, it’s going to happen quite quickly. There’s a number of funds and people around the world who are thinking to the long term, once we’ve stopped funding mega hydrocarbon projects, you’re still going to need helium because you’re still going to need to be able to produce your semiconducting chips, produce your fibre optic cables, run MRI scanners etc. and so forth. There’s a lot of high-tech high-value applications which we need this for.

What this indicates is that this high grade primary helium system, which we believe is working, that’s much more widespread than we were thinking, there’s multiple anomalies across Eyasi, across Balangida, all of which points to really exciting exploration campaign as we move into 2022 and mobilizing conventional rig to make a discovery this year.

Q3: Now, last week saw some big moves in the share price, what do you think caused that?

A3: I think it’s an eventual realisation about this being significantly an undervalued asset.

We’ve talked since September about this being a de-risk basin but the share price didn’t reflect any of the work which was completed in 2021. We’ve identified helium anomalies from surface all the way down to basement, we’ve got high quality reservoir and seal units, which are all components of a working system.

The other thing which we have is we’ve matured as a company and we’ve built a team over the last 12 months of international gas exploration experts who are able to deliver a campaign. Last year, we were very good at delivering things on a timeline so we’ve already proven that we, as a company, are able to deliver exploration campaigns, but with the team behind us, we’re maximising our chances of making a discovery, which as we move into drilling makes a 9p investment a rather compelling case. To come in at an asset which is on the ground floor and to take advantage of a lot of work that’s been done and to ride the price all the way through into a discovery.

So, I think people are starting the year with that outlook and I’m very happy to welcome a number of new investors and returning investors into our shareholding group.

Q4: So, what’s next for Helium One on the horizon and how do you see the next few months going?

A4: We’ve got a very busy Q1, so a lot of hard work which we did towards the end of last year, a lot of planning and organization which is an essential part of a project but doesn’t produce any announcements.

So, we’ve got a really busy Q1 and as that starts to bear fruit, looking forward to being able to talk about the results of the 2D seismic and bring some of that information into public domain. We’re looking forward to being able to start talking about signing an MOU with a rig provider so that by the end of this period we’ll be able to talk about what we’re drilling, where we’re drilling, who we’re drilling with, and when we are drilling.

All of that’s going to lay down the timeline for what’s a really exciting 2022 campaign and I’m looking forward to taking everybody along as we drive the project into a discovery year.

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