Helium One Global calls time on Tai-3 and will head to Itumbula

–News Direct–

Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) CEO Lorna Blaisse speaks to Thomas Warner from Proactive after the AIM-listed Tanzanian explorer announced the conclusion, at least for now, of work at the Tai-3 well.

Despite challenges, Blaisse says the company successfully drilled deeper than anticipated, revealing increasing helium shows with depth. While no free gas was sampled, helium concentrations in fluid samples reached around 1%.

Blaisse explained the decision to pack down the rig at Tai-3 and move it to its next location, citingthe recent mechanical issues with the rig. The temporary setback involves sourcing new equipment and parts, necessitating the rig's relocation. She says the work completed at Tai-3 will be invaluable for refining strategies at Itumbula, where drilling will target a major fault linked to prolific helium seeps.

The CEO also outlines a timeline for operations, with rig dismantling and relocation expected to take around a week. The team is actively sourcing parts and a new iron roughneck from the U.S., predicting a 2-3 week timeline for equipment arrival and customs clearance.

Contact Details

Proactive UK Ltd

+44 20 7989 0813

uk@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/helium-one-global-calls-time-on-tai-3-and-will-head-to-itumbula-396356743

Helium One Global Ltd

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COMTEX_443765362/2655/2023-11-20T10:31:23

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