Helium One Global Ltd has said that all its prospecting licenses in Tanzania have been renewed, demonstrating Tanzania Government’s the continued support and commitment to its project.
The company noted that it has changed rig supplier after legal complications, but still is targeting a spud date at the Rukwa licence in Tanzania in the first quarter of next year.
With the company believing legal issues around the previously announced Predator rig would have had an impact on its availability, it has now signed a memorandum of understanding with Exalo Drilling, an onshore drilling arm of Poland’s Orlen Group.
Helium One Global Ltd (LON:HE1) was founded in September 2015. The Company’s focus is to explore, develop, and ultimately, become a producer of high-grade helium for the international market, a critical material essential in modern technologies.