Helium One Global Ltd Announces Jackson-29 Flow Test Results & Gas Analysis Update
Rhea-AI Summary
Helium One Global (HLOGF) has reported positive flow test results from the Jackson-29 well at its Galactica-Pegasus helium development project in Colorado, where it holds a 50% working interest. The well, drilled to 1,183 feet, has demonstrated increasing natural flow rates reaching approximately 320 thousand cubic feet per day (Mcfd).
Initial laboratory analysis revealed helium concentrations up to 3.30% with 48.66% CO2 and 48.04% nitrogen. The projected stabilized flow rates, optimized for production, are expected between 350 Mcfd and 450 Mcfd, with a maximum potential of 550 Mcfd. Strong pressure build-up post-testing indicates high permeability and good reservoir communication.
The Galactica project, discovered by Blue Star in 2022, is being developed in partnership with Helium One, which will fund the first US $450,000 of this well. The project's location adjacent to the third-party owned Red Rocks helium project supports its commercialization potential.
Positive
- Strong flow rates reaching 320 Mcfd with projected increase to 350-450 Mcfd
- High helium concentration of 3.30% in initial samples
- Strong pressure build-up indicating high permeability and good reservoir communication
- No water encountered during drilling, confirming high-quality gas-saturated formation
Negative
- Significant CO2 content (48.66%) in gas composition requiring separation
News Market Reaction 1 Alert
On the day this news was published, HLOGF gained 3.70%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
LONDON, UK / ACCESS Newswire / April 22, 2025 / Helium One Global (AIM:HE1), the primary helium explorer in Tanzania with a
Highlights
Jackson-29 flowed naturally during drilling and at Total Depth ("TD")
Flow rate since TD has increased to over 320 thousand cubic feet per day ("Mcfd")
Projected stabilised flow rates are 350 Mcfd to 450 Mcfd, constrained to optimise production, with a maximum potential rate of 550 Mcfd
Early samples return helium concentration of up to
3.30% (air-corrected) and48.66% CO2 in line with expectations
Details
The Jackson-29 well reached TD at 1,183 feet (361m) within the Upper Lyons Formation, encountering the Lyons Sandstone Formation at 1,122 feet (341m). As expected, water was not encountered during drilling of the Lyons Formation with wireline logs confirming the penetrated Lyons Sandstone Formation to be high-quality and gas saturated.
Flow testing since TD has revealed increasing natural flow rates, reaching approximately 320 Mcfd to-date. Strong pressure build-up post-testing indicates high permeability and good reservoir communication. Based on previous engineering studies, and observed flow rates, the projected stabilised flow rates constrained for production optimisation are expected to be between 350 Mcfd and 450 Mcfd, with a maximum of 550 Mcfd.
Initial laboratory analysis of gas samples from Jackson-29 showed a helium concentration up to
Galactica/Pegasus Development
The Galactica project forms part of the broader Galactica/Pegasus development, discovered by Blue Star in 2022. This large-scale project offers multiple potential product streams. Blue Star is advancing the Galactica project in joint venture with Helium One Global Ltd. Under the farm-in agreement, Helium One will fund the first US
The third-party owned Red Rocks helium project adjoins Blue Star's Galactica Project (see map below). Development of Red Rocks further supports the commercialisation of the Galactica Project.
For further information please visit the Company's website: www.helium-one.com
Contact
Helium One Global Ltd | +44 20 7920 3150 |
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Panmure LiberumLimited (Nominated Adviser and Joint Broker) | +44 20 3100 2000 |
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Zeus Capital Limited (Joint Broker) | +44 20 3829 5000 |
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Tavistock(Financial PR) | +44 20 7920 3150 |
Notes to Editors
Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across two distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.
The Rukwa and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. These assets lie near surface seeps with helium concentrations ranging up to
The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania. This project is considered to be entering an appraisal stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test, successfully flowed
Following the success of the extended well test, the Company flowed significant quantities of helium to surface and filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024. The 480km2 ML has now been offered to the Company and was officially accepted in March 2025.
The Company also owns a
Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Helium One Global Ltd
View the original press release on ACCESS Newswire
FAQ
What are the flow test results from Helium One's (HLOGF) Jackson-29 well?
How much helium concentration was found in HLOGF's Jackson-29 well samples?
What is Helium One's (HLOGF) stake in the Galactica-Pegasus project?
What is HLOGF's financial commitment to the Jackson-29 well?
