Business
Operational Update
Operational Update.
About this update from Helium One Global Limited
[{"type":"text","content":"\n\n\n \n \n\n01 July 2024\nHelium One Global Ltd\n(\"Helium One\" or \"the Company\")\n \nOperational Update\nand Award of Director and Management Options\n \nHelium One Global (AIM: HE1), the primary helium explorer in Tanzania, is pleased to provide an update on progress at its Rukwa (100% Operated) project area ahead of its extended well test (\"EWT\") at Itumbula West-1 (\"ITW-1\").\n \nHighlights\n· On track to deepen ITW-1 well and commence EWT in fault-fracture helium play in July\n· Company-owned rig is on-site and ready for third party services to rig up ahead of spud\n· Acquisition of well control equipment to complement drilling rig\n· Appointed experienced drill crew for EWT operations and personnel mobilisation underway\n· Long lead items arriving at site for July spud\n· Remobilisation of camp personnel and medical support to site\n· Contract executed with global technology company, SLB (formerly Schlumberger) for provision of cementing, drilling and completion fluids services, and surface well test equipment and services\n· GeoLog International BV (\"GeoLog\") contracted for mudlogging services\n· Laboratory results of helium samples from ITW-1 are consistent with measurements made by onsite field PVT laboratory\n· Second phase field work of ESIA study required for feasibility study ready to commence\n· Feasibility study and subsurface modelling underway ready for integration of EWT results ahead of Mining Licence application\n \n \nLorna Blaisse, Chief Executive Officer, commented:\n\"As we fast approach the next operational phase, we are on track to commence the crucial EWT operations at Itumbula West-1 in July. This is a very exciting time for the Company as the test will enable us to determine commercial flow rates, reservoir performance and helium concentrations over a longer period of time. The results of this EWT will enable us to better determine resource estimates and fully evaluate the potential of this new fault-fracture helium play we have at Itumbula.\nThe team has remained focused over the past few months to meet the timelines, including the ordering and delive...