Business
Successful deepening of Itumbula West-1 well
Successful deepening of Itumbula West-1 well.
About this update from Helium One Global Limited
[{"type":"text","content":"\n\nThe 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.\n \n06 August 2024\n\n \n \nHelium One Global Ltd\n(\"Helium One\" or \"the Company\")\n \nSuccessful deepening of Itumbula West-1 well\nHelium One Global (AIM: HE1), the primary helium explorer in Tanzania, is pleased to provide the following update on Itumbula West-1 (\"ITW-1\") operations.\n \nHighlights\n· The Company has successfully re-entered and deepened the ITW-1 well a further 168m into the Basement and has reached a new total depth (\"TD\") of 1129m measured depth (\"MD\")\n· Near-continuous helium and hydrogen shows measured whilst drilling and were notably higher than those encountered whilst drilling the overburden section during Phase II\n· Commenced preparations for running 7\" slotted casing and cementing operations\n· Once casing is cemented in place, extended well test (\"EWT\") operations will commence across two intervals; fractured Basement and faulted Karoo Group\n \nDetails\nThe Company has successfully re-entered and deepened the ITW-1 well a further 168m into the fractured Basement and has reached a new TD of 1129m MD. The existing hole conditions were very good and enabled the wellbore re-entry beneath the 9⅝\" shoe, and subsequent deepening into the Basement, to occur efficiently.\nWhilst deepening the well, near-continuous helium and hydrogen shows were encountered whilst drilling. The frequency of these shows continued to TD and were notably higher than those which were encountered whilst drilling the overburden section during Phase II.\nThe next phase of the operations now involves preparing the wellbore for running the 7\" slotted casing and cementing it in place. Once this is complete, the Company will then run a completion string in the hole comprising of tubing and packers to allow multiple testing of the two zones (the fractured Basement and the faulted Karoo Group) during the EWT.\nThe Company will provide further updates in due course.\n \nLorna Blaisse, Chief Executive Officer, commented:\n\"We are pleased that we have been able to re-enter...