The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.
14 December 2023
Helium One Global Ltd
("Helium One" or "the Company")
Annual General Meeting update
AGM
Helium One Global (AIM: HE1), the primary helium explorer in Tanzania, announces that at today's AGM, Lorna Blaisse, the Company's Chief Executive Officer, will give an operational update presentation to the meeting, a copy of which will be uploaded to the Company's website.
Rig update
The Company is pleased to announce that the replacement iron rough neck is now in Tanzania, having cleared customs, and is due to arrive at the Itumbula well site today, ahead of immediate installation. Once installed, the full rig up process will commence and the Itumbula well is anticipated to spud in January 2024. This is subject to the successful completion of the additional funding, as announced on 5 December 2023, which the Company is progressing with and the Company will provide further updates in due course.
For further information please visit the Company's website: www.helium-one.com
Contact
| Helium One Global Ltd Lorna Blaisse, CEO | +44 20 7920 3150 |
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| Liberum Capital Limited (Nominated Adviser and Joint Broker) Scott Mathieson Ed Thomas Nikhil Varghese | +44 20 3100 2000 |
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| Peterhouse Capital Limited (Joint Broker) Lucy Williams | +44 20 7220 9792 |
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| Tavistock (Financial PR) Nick Elwes Tara Vivian - Neal | +44 20 7920 3150
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Notes to Editors
Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences totalling more than 2,965km2 across three distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.
The Rukwa, Balangida, and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. The assets lie near surface seeps with helium concentrations ranging up to 10.6% He by volume. All Helium One's licences are held on a 100% equity basis and are in close proximity to the required infrastructure.
The Company's flagship Rukwa Project is located within the Rukwa Rift Basin covering 1,900km2 in south-west Tanzania. The project is considered to be an advanced exploration project with leads and prospects defined by a subsurface database including multispectral satellite spectroscopy, airborne gravity gradiometry, 2D seismic data, and QEMSCAN analysis. 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.
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.
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