Helium One Global reported a 61% increase in unrisked prospective resources from a new competent person’s report (CPR) for the Tai prospect at Rukwa, Tanzania.
COMPETENT PERSON’S REPORT
The increase follows more detailed interpretation of additional 2D seismic data acquired across Tai in 2021, and improved understanding of the structural closure.
ERC Equipoise Ltd (ERCE) evaluated the total gas and helium prospective resources for the CPR.
Unrisked best estimates of net helium prospective resources is 2.8 billion cubic feet, with unrisked best estimates of total gas prospective resources of 212.2 bcf across the combined intervals of the Lake Bed formation, Nsungwe formation, Karoo sandstone and weathered basement.
The increase is from the previous 2020 CPR completed by SRK Consulting (Australasia) Pty Ltd.
Unrisked high estimate of net helium prospective resources is 7.1 bcf in the ERCE report, which is a 30% increase from SKR’s 2020 CPR.
Unrisked high estimate of total gas prospective resources is 437.8 bcf in the ERCE report, a 294% increase from 2020.
Helium One said that Tai remained the best-defined prospect within the company’s portfolio.
SUBSTANTIAL
Chief executive Lorna Blaisse added that the CPR provided a “robust view” of the drill-ready prospect.
“The team has undertaken a huge amount of detailed technical work over the past two years and we are very confident that the Tai prospect gives us the best chance of proving up helium in the Rukwa Basin.
“With a substantial increase prospective resource and a geological chance of success similar to that which was concluded in the previous CPR, I remain encouraged that Tai is still our best prospect in our Rukwa basin portfolio.”