News Oil & Gas

Helium One holds £10m at start of phase II

Posted on Author editorial Comments Off on Helium One holds £10m at start of phase II

Helium One Global Ltd said it had completed its 2021 exploration drilling campaign and started Phase II exploration work at its 100% owned Rukwa project in Tanzania.

Discovery: Helium One will investigate new shallow and deep targets at Rukwa (Helium One)

INFORMATION

Drilling has now been completed on Tai-2 without the company identifying helium gas.

Helium One said it had gained valuable information on shallow trap and seal potential. 

The company also has definition of a working helium system in the Rukwa Basin, de-risking Helium One’s 3,500km2 licence area.

PHASE II

New shallow targets will be investigated to identify prospects for low-cost drilling.

Additionally, new deep structural targets beneath well-developed 130m thick Top Karoo seal can be investigated by 2D infill seismic on defined gravity targets.

The company added that it had £10 million to advance the Rukwa Basin towards discovery.

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