Helium One working tirelessly to secure rig at Rukwa

Helium One Global Ltd (LON:HE1), the primary helium explorer, has announced its unaudited condensed and consolidated results for the six months ended 31 December 2022, as well as provide an update on the Company’s progress on its projects in Tanzania post the half year end. 


·      Successfully raised £9.9 million ($12.3 million) in December to fund the Company through the 2023 Drilling programme in the Rukwa Basin, anticipated in 3Q 2023

·     Relinquishment of 1,548 km2 of non-prospective licensed areas across the Rukwa Basin saving the Company $309,600 per annum

·      Completion of analysis of Falcon Airborne Gravity Gradiometry (“AGG”) and aero-magnetic data over the Balangida Basin; developing a greater understanding of rift geometry, basin evolution and subsurface structure for targeted exploration

·        Net cash balance as at 31 December 2022 of $13.7 million

Post the period end

·        Appointment of new CEO, Lorna Blaisse

·        Entered a co-operation agreement with Noble Helium (ASX: NHE) whereby both companies have agreed to cooperate in sourcing and securing a suitable drilling rig, associated services and logistics.

·       Development of further helium potential resource targets following the integration of the gravity-magnetic 3D inversion study over the Eyasi Rift Basin area, following the success of the Balangida work in collaboration with Getech

·       Commencement of Environmental and Social Impact Assessment in the Eyasi region, ahead of potential data acquisition in Q4 2023/Q1 2024

Ian Stalker, Chairman of Helium One commented: 

“Securing a rig for the planned campaign at Rukwa is the Company’s number one priority and the team is working tirelessly to ensure this happens swiftly.  The exploration work that has been carried out to date has significantly de-risked the Rukwa project and we are excited about the drilling programme which we believe has the potential to prove up what we believe to be a world class helium province. 

“We look forward to providing further updates as our programme progresses.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
Helium One Global Ltd

More articles like this

Helium One Global Ltd

Helium One reports strong expansion to Tai Prospect

Tanzania-focussed helium explorer Helium One Global announced a new independent verification of prospective resources at its Tai Prospect on Monday. The AIM-traded firm said the evaluation, conducted by reserves auditors ERC Equipoise, resulted in significant increases in the

Helium One Global Ltd

Helium Super Summit 2023: Steering Through Uncertainty

30th Oct – 1st Nov 2023, The Westin Galleria Houston Four major global shortages in 18 years, and yet the greatest challenge facing the helium business in 2023/24 is the uncertainty that hangs over the market and its

Helium One Global Ltd

2023 Helium gas market will touch new level

Helium Gas market focuses on analyzing the current competitive situation in the Helium Gas market and provides basic information, market data, product introductions, etc. of leading companies in the industry. At the same time, includes the

Helium One Global Ltd

How is helium gas obtained?

Helium gas is a noble gas that has many uses, from manufacturing products to providing medical treatments. It is also non-toxic and does not react with other elements or compounds. Due to its unique properties, helium

Helium One Global Ltd

The importance of helium uses in everyday life

Helium is a gas that has numerous applications in everyday life. From its use in medical treatments to providing buoyancy for aircraft and balloons, this element plays an important role in many aspects of our day-to-day

Helium One Global Ltd

Helium One signs LOI for helium well in Tanzania

Helium One, the gas exploration company recently penned an agreement withTunisian contractor, SOFORI, to supply a Drillmec HH102 rig to be used in the next drilling campaign on the Rukwa Project in Tanzania. Although a contract has yet to

Helium One Global Ltd

Helium One enters into LoI with SOFORI and Noble Helium

Helium One Global Ltd (LON:HE1), the primary helium explorer in Tanzania, has announced that the Company has, alongside Noble Helium (ASX:NHE), entered into a Letter of Intent (LoI) with Tunisian Drilling Contractor, SOFORI, for the provision

Helium One Global Ltd

What is Helium?

Helium is a chemical element that occurs in great abundance throughout the universe, although it is not as widely distributed on Earth. It typically takes the form of a gas, and it heads up the list

Helium One Global Ltd

Lift-off in hunt for hidden helium?

Durham researchers have helped to develop a new model that could be used to identify new helium gas resources – especially important in light of the global helium supply shortage. The study, published in Nature, was led by

Properties of Helium gas

Physical properties of helium gas: Helium (He) is a colorless, odorless, and tasteless gas at room temperature. It is the second lightest element and a noble gas, which means it is highly stable and relatively inert.

Helium: A byproduct of the natural gas industry

What is Helium? Helium is a chemical element and a colorless, odorless, tasteless, inert gas. It has the smallest atomic radius of any element and the second-lowest atomic weight. It is lighter than air. Most people

Helium One Global appoints new CEO

Helium One Global Ltd has appointed its principal geologist Lorna Blaisse as chief executive officer. She replaces David Minchin and, following completion of due diligence, will also be appointed as a director of the company. Ms Blaisse is an exploration

Helium One new CEO to give an updated presentation today

Helium One Global Ltd (LON:HE1), the primary helium explorer in Tanzania, has announced that at today’s AGM, Lorna Blaisse, the Company’s new Chief Executive Officer, will give an updated presentation to the meeting, a copy of

Helium One appoints new CEO to spearhead Tanzania project

Aim-listed Helium One Global, a primary helium explorer in Tanzania, has announced that CEO David Minchin will step down with immediate effect, to pursue other challenges. The company has appointed Lorna Blaisse, currently principal geologist at