Helium One Global Ltd Announces Jackson-29 Operational Update
Rhea-AI Summary
Helium One Global (HLOGF) provides an operational update on the Jackson-29 well at the Galactica-Pegasus helium project in Colorado, where it holds a 50% working interest. The intermediate hole section has been successfully drilled to approximately 1,110 feet (338m) and casing has been set.
Operations are currently suspended due to weather conditions. Once conditions improve, Blue Star Helium will evaluate the cementing programme, run a cement bond log (CBL) to confirm bonding, and proceed to drill into the target Lyons Formation. Upon reaching total depth, the well will undergo wireline logging, wellhead installation, and flow and pressure testing.
The company also notes its recent success in Tanzania, where its Itumbula West-1 well achieved continuous flow of 5.5% helium in Q3 2024, leading to a Mining License application in September 2024, which was officially accepted in March 2025.
Positive
- Successfully drilled Jackson-29 intermediate hole section to 1,110 feet
- Secured Mining License approval in Tanzania (March 2025)
- Demonstrated successful 5.5% helium flow at Itumbula West-1 well
Negative
- Weather-related operational delays at Jackson-29 well
News Market Reaction
On the day this news was published, HLOGF declined 7.50%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LONDON, GB / ACCESS Newswire / April 4, 2025 / Helium One Global (AIM:HE1), the primary helium explorer in Tanzania with a
Summary
Jackson-29 intermediate hole section successfully drilled to casing point and casing set
Cementing programme complete and evaluation underway. However, operations currently suspended due to weather conditions
Following evaluation, Blue Star will run cement bond log (CBL) to confirm bonding and drill out into the target Lyons Formation to drilling total depth ("TD")
Details
The intermediate hole section of the well was drilled to approximately 1,110 feet (338m). Subject to weather conditions, the cementing programme will be evaluated, and any excess cement removed. Blue Star will then run the mandatory CBL to confirm good bonding and then drill out into the target Lyons Formation. The well will be TD'd within the Upper Lyons Sandstone Formation (production hole section). This is anticipated to commence early next week.
At TD, the well will be wireline logged after which a wellhead will be fitted followed by flow and pressure readings at the wellhead.
It is anticipated that, upon successful testing at Jackson-29, the well will be completed, ready to be tied-in to production facilities
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 is the current status of HLOGF's Jackson-29 well drilling operations?
What are the next steps for HLOGF's Jackson-29 well development?
What was HLOGF's recent achievement in Tanzania during Q3 2024?
When did HLOGF receive its Mining License approval in Tanzania?
