Business
Interim Results
Interim Results.
About this update from Helium One Global Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 1549G\n Helium One Global Ltd\n 28 March 2022\n \n \n \n \n 28 March 2022\n \n \n \n \n \n \n HELIUM ONE GLOBAL LIMITED\n \n \n \n (\"Helium One\" or the \"Company\")\n \n \n \n \n \n \n Unaudited Interim Results for the Six Months ended 31 December 2021\n \n \n \n \n \n \n Helium One Global Limited (AIM:HE1), the primary helium explorer, is pleased to announce its unaudited condensed and consolidated results for the six months ended 31 December 2021.\n \n \n \n \n \n \n Within the period\n \n \n \n \n \n \n ·\n Completion of 2021 Drilling Campaign identifying a working helium system in the Rukwa Basin \n \n \n ·\n Completion of 220 line kilometre of Phase II 2D Seismic acquisition over the northern extensions of Tai and Itumbula structural highs\n \n \n ·\n Net cash balance as at 31 December 2021 of $9,729,864 (30 June 2021: $15,802,111) \n \n \n \n \n \n Subsequent Events\n \n \n \n \n \n ·\n Completion of a multispectral satellite spectroscopy study with identification of multiple surface helium anomalies at Rukwa, Eyasi and Balangida project areas\n \n \n · \n Completion of QEMSCAN study providing further data to provide information on reservoir quality, mineralogy, seal potential and grain size distribution \n \n ·\n Completion of ERT study to aid our technical understanding of potential shallow gas accumulations\n \n \n ·\n Ongoing interpretation of 2D seismic has identified multiple new areas of interest additional to our existing prospect portfolio \n \n \n ·\n Advanced discussions with a leading global drilling company for the provision of a containerised rig solution for drilling within the 2022 drilling season\n \n \n \n \n \n \n David Minchin, CEO of Helium One commented:\n \n \n \n \n \n \n \"We are pleased to report these interim results which demonstrate that Helium One has maintained a commitment to cost effective exploration, while providing significant de-risking over the Rukwa basin. Our 2021 drilling campaign delivered 'proof of concept' by demonstrating the occurrence of subsurface helium within a working helium system. This gives us the confidence to push ahead with additional exploration and mobilise a conventional oil and gas rig for our 20...