TIDMHE1
RNS Number : 8196Q
Helium One Global Ltd
01 November 2021
01 November 2021
Helium One Global Ltd
("Helium One" or "the Company")
Commencement of Phase 2 Seismic Campaign
Helium One Global (AIM: HE1), the primary helium explorer, is
pleased to announce the commencement of the Company's 2D seismic
campaign as part of its Phase 2 exploration programme with
mobilisation of survey and line clearing crews to its Rukwa Project
(100%) in Tanzania.
Highlights:
-- Commencement of 200 line kilometre 2D seismic campaign
targeting northern extensions of known structural highs that act as
a focus for helium charge
-- Mobilisation of survey and line clearing crews commenced
-- Planned acquisition of data across 'Deep' targets with the
aim of maturing additional drillable prospects for the planned 2022
conventional drilling campaign
-- Continued good co-operation between government departments,
local communities and Helium One Management has allowed critical
seismic work at Rukwa to be fast tracked by the Company
-- Strengthened management team with appointment of experienced
international operators as COO and CFO
-- Start of exciting Phase 2 exploration work on Helium One's de-risked Rukwa Basin
David Minchin, Chief Executive Officer, commented:
"We are delighted to commence the 2D seismic campaign as part of
the Phase 2 exploration at Rukwa with the mobilisation of 2D
seismic over the northern extensions of the Tai and Itumbula
structural trends. Undertaking this campaign within the Rukwa Basin
is not without challenge as we moved to get permitting, people and
equipment in place ahead of the wet season. We are pleased to have
AGS return as our providers as we recommence our ground exploration
activities.
"Sector confidence in Helium One's projects is demonstrated by
our ability to attract top international talent into our team. Our
new COO and CFO have nearly 55 years' combined experience in
various international operational management roles across Africa
and Asia. The appointment of Colin and Chris bring significant
experience to our in-country operational team, their knowledge and
leadership will allow us to continue to fast-track the development
of Helium One's exploration portfolio as we move towards Phase 2
drilling in 2022.
"We would like to thank government departments and local
communities for their continued support in helping us fast track
mobilisation of our 2D seismic campaign. We are excited about our
Phase 2 programme as we look to build our geological knowledge
within the de-risked Rukwa Basin and continue the process of
advancing the Rukwa Project towards discovery."
Commencement of Phase 2 Seismic Campaign
Helium One is delighted to have commenced its Phase 2 2D Seismic
Campaign. The seismic campaign will consist of approximately 200
line kilometres of 2D seismic targeting northern extensions of
known structural highs that act as a focus for helium charge.
Helium One has worked extensively with local communities,
regional and national government to ensure this critical seismic
campaign can commence before the onset of rains across southern
Tanzania limits accessibility. Helium One is pleased to welcome
back AGS to deliver the project following the successful execution
of our Phase 1 Infill seismic campaign in Q1 2021.
The Company's exploration at Tai to date has indicated the
presence of high quality seal and reservoir units, as well as
identifying trapping geometries and charge focus away from known
surface seeps. The identification of a well-developed 130m sealing
claystone unit at the top of the Karoo Formation in Tai-1A
demonstrated sufficient sealing capacity to support the trapping of
helium gas within the reservoir units below. Modern seismic
provides improved data resolution of the subsurface to allow the
Company to map out structural and stratigraphic closures as well as
provide indications of lithology to aid identification of
reservoir-seal pairs. By using this data, the Helium One technical
team have been able to develop a seal presence and risk map across
the basin.
By combining structural and stratigraphic information from 2D
seismic data across structures known to act as a focus for helium
charge, Helium One intends to enhance its prospect portfolio of
'drill ready' targets and identify trapping configurations across
multiple plays. Helium One aims to mobilise a conventional drilling
rig to test new targets alongside a re-drill of untested targets at
Tai in the Company's 2022 Conventional Drilling campaign.
Strengthening of Management Team
As stated in our corporate presentation, Helium One are
continuing the process of developing the skills and expertise of
our management team with the appointment of a new COO and CFO.
Helium One is delighted to have welcomed Colin Ivory to join the
team as Chief Operating Officer. Colin is a respected International
Operations Manager with over 38 years proven experience in the oil
and gas industry and has occupied various roles globally in
challenging and remote locations. Over his long career Colin has
conducted numerous drilling programmes across East and West Africa,
South East Asia, Russia and Canada, leading to a comprehensive
understanding of operational requirements of oil and gas
exploration. He also has extensive experience in Health and Safety,
Environment, Social Sustainability, Security and Ethics.
Colin's experience in the design and implementation of fit for
purpose operations that manage cost-effective exploration with safe
and successful outcomes make him a valuable addition to the team as
we move towards Phase 2 drilling in 2022.
Helium One has also further strengthened its team with the
appointment of Chris Eyre as Chief Financial Officer. Chris is
based in Tanzania and has detailed knowledge of local financial
regulatory requirements acquired as Regional Financial Controller
for Tata East Africa Region where he was responsible for group
financial functions across Kenya, Uganda and Tanzania. Chris has
broad experience of commodity trading having spent 11 years as
Group Financial Controller for Metmar in South Africa, who were
acquired by Traxys.
The appointment of a senior executive to a position based within
Tanzania strengthens our operational base in country and allows us
to commence the process of indigenising key project support
functions within Dar es Salaam.
For further information please visit the Company's website:
www.helium-one.com
Contact
Helium One Global Ltd
David Minchin, CEO +44 20 7920 3150
Beaumont Cornish Ltd (Nominated
Adviser)
James Biddle
Roland Cornish +44 20 7628 3396
Canaccord Genuity Limited (Joint
Broker)
Adam James +44 20 7523 8000
Peterhouse Capital Limited (Joint
Broker)
Lucy Williams +44 20 7220 9792
Tavistock (Financial PR)
Nick Elwes
Tara Vivian-Neal +44 20 7920 3150
Notes to Editors
Helium One was founded in September 2015 to explore, develop,
and ultimately, become a producer of low-carbon helium, a critical
material that is essential in many modern technologies.
Helium One has identified a globally unique, large-scale,
high-grade, primary helium project in Tanzania with the potential
to become a strategic asset in resolving a supply-constrained
market.
Helium One's assets are located within the rift basins on the
margin of the Tanzanian Craton. The Company has secured 18
Prospecting Licences covering more than 4,512 km(2) in three
distinct project areas: the Rukwa, Balangida and Eyasi projects.
These are located near surface seeps with helium concentrations
ranging up to 10.6% He by volume.
The Company's flagship Rukwa Project is located within the Rukwa
Rift Basin covering 3,448km(2) in south-west Tanzania. The project
is considered to be an advanced exploration project with a
portfolio of leads and prospects defined by high-resolution gravity
gradiometry, and modern and historic 2D seismic. The Rukwa Project
has been de-risked by the 2021 drilling campaign, which identified
reservoir and seal with multiple prospective intervals from basin
to near surface within a working helium system.
SRK Consulting have reported a 'Best Estimate' Un-risked
Prospective Resource of 138 Bcf (2U/P50) for the Company's Rukwa
Project, meaning that the project has potentially strategic global
implications with the ability to significantly resolve helium
supply/demand issues.
All Helium One's licences are held on a 100% equity basis and
are in close proximity to the required infrastructure.
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 HOGLF.
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