Helium One Global Ltd has raised £10 million via a “significantly oversubscribed” subscription and placing of 100m ordinary shares each at 10p, representing a 14.5% discount. Proceeds will be used to continue the fast-track development programme of the Rukwa project in Tanzania. The fundraise involved institutional and other investors while Helium One directors participated in the […]
Tag: oil & gas
United plans tests after ASD-1X results at Abu Sennan
United Oil & Gas plc announced preliminary results from the ASD-1X exploration well suggested at least 22m net oil pay at its Abu Sennan concession onshore Egypt. The results were across a number of reservoirs, including the Abu Roash C, Abu Roash E, Lower Bahariya and Kharita formations. United, which holds a 22% working interest […]
Helium One quickens pace with £6.5 million cash
Helium One Global Ltd recorded a significant increase in cash for its Rukwa exploration and development project in Tanzania. In its unaudited interim results for the six months ended 31 December 2020, the company reported a net cash balance of $6,584,886 compared with $577,997 for the same period in 2019. An oversubscribed fundraise resulted in […]
Helium One appoints Mitchell Drilling for Rukwa
Helium One Global Ltd has appointed Mitchell Drilling Ltd as drilling contractor for the first three-well exploration programme at its 100% owned Rukwa project in Tanzania. FAST TRACK The Australian operator, with more than 50 years’ experience and 115 rigs globally, will mobilise a drill rig already within Tanzania before starting work in mid-May. The company has the option […]
Helium One gathers data for 2021 drill campaign
Helium One Global Ltd has started the acquisition of seismic data and the mobilisation of vibroseis trucks and geophones at its 100% owned Rukwa project in Tanzania. The company will focus on 50km of infill 2D seismic data targeting multiple trapping styles. Interpreted seismic data will define optimal well locations and reduce risk in drill […]
Angus mulls overseas projects as revenue falls
Angus Energy plc might might look overseas for projects as it reported a fall in revenue and production. DECREASES Accounts for the year ended 30 September 2020, show revenue fell to £68,000 (2019: £200,000) on production of a gross 1,594 barrels (2019: 5,346). Angus attributed this to the Lidsey oil field being shut in due […]