Helium One Global Ltd has begun drilling the Itumbula West-1 well, targeting two major fault zones and the Karoo Group, on the Rukwa licence in Tanzania. EVALUATION Having installed the new iron rough neck and completed hydraulic repairs, the company is currently cementing the 20″ conductor before drilling the 17.5″ hole section. An open hole […]
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Helium
Helium One reaches £6m via 72% discounted fundraise
Helium One Global Ltd raised £6.1 million through the issue of 2,420,842,500 new ordinary shares, of no par value in the capital of the company, each at a price of 0.25 pence. DIRECTORS’ DEALINGS The oversubscribed fundraise comprised a placing of 2,413,642,500 new ordinary shares, raising £6m, and a direct subscription of 7.2m new ordinary […]
Helium One needs more funds to drill Itumbula well
Helium One Global Ltd needs further funds to drill the Itumbula well once it has repaired its drill rig on the Rukwa licence in Tanzania. COSTS The company has faced setbacks from delays and component failures but aims to spud the new well in early January 2024. A full cost analysis and budgeting exercise showed […]
Helium confirmed from downhole fluid samples in Tai-3
Helium One Global Ltd said that downhole fluid samples have confirmed the presence of helium in the Tai-3 well on the Rukwa licence, Tanzania. BASEMENT TARGET Fluids were recovered from reservoir intervals in the Upper and Lower Karoo Group following the now completed wireline logging and sampling, which showed “good quality reservoir sands interbedded with […]
Helium One starts wirelines with full rig repair pending
Helium One Global Ltd has begun wireline and initial logging after pulling out the drill string from the hole on the Tai-3 well at Rukwa, Tanzania. GAS COMPOSITION The company retrieved the drill pipe and bottom hole assembly, comprising the heavy weight drill pipe and drill collars, from the hole by isolating and repositioning “various […]
Further rig problems again halt Tai-3 operations
Helium One Global Ltd has temporarily shut down operations because of further problems with its rig, audited last year, on the Rukwa licence in southwest Tanzania. IRON ROUGHNECK The setback follows reports earlier in the week of elevated helium shows from the Tai-3 well after the repair and reinstallation of a faulty component to the […]