Helium One Global has announced the spudding of the State-9 development well at its Galactica helium project in Las Animas County, Colorado. This marks the sixth well in the Galactica development campaign. The well will target the Lyons Sandstone Formation, with preparations underway to drill the intermediate hole section. The project is operated by Blue Star Helium, with Helium One holding a 50% working interest. Under the farm-in agreement, Helium One will fund the first US $450,000 of this well. The company's flagship Rukwa Project in Tanzania recently proved successful with a helium discovery at Itumbula West-1, flowing 5.5% helium to surface in Q3 2024, leading to a Mining License approval in March 2025.
Helium One Global ha annunciato l'inizio della perforazione del pozzo di sviluppo State-9 nel suo progetto Galactica helium nella contea di Las Animas, Colorado. Questo rappresenta il sesto pozzo della campagna di sviluppo Galactica. Il pozzo punterà alla formazione di arenaria Lyons, con i preparativi in corso per la perforazione della sezione intermedia. Il progetto è gestito da Blue Star Helium, mentre Helium One detiene un interesse operativo del 50%. Secondo l'accordo di farm-in, Helium One finanzierà i primi 450.000 dollari USA di questo pozzo. Il progetto di punta dell'azienda, Rukwa in Tanzania, ha recentemente avuto successo con una scoperta di elio a Itumbula West-1, con un flusso del 5,5% di elio in superficie nel terzo trimestre 2024, che ha portato all'approvazione della licenza mineraria a marzo 2025.
Helium One Global ha anunciado el inicio de la perforación del pozo de desarrollo State-9 en su proyecto Galactica helium en el condado de Las Animas, Colorado. Este es el sexto pozo en la campaña de desarrollo Galactica. El pozo apuntará a la formación de arenisca Lyons, y ya están en marcha los preparativos para perforar la sección intermedia. El proyecto es operado por Blue Star Helium, con Helium One poseyendo un 50% de interés operativo. Según el acuerdo de farm-in, Helium One financiará los primeros 450.000 dólares estadounidenses de este pozo. El proyecto principal de la compañía, Rukwa en Tanzania, tuvo recientemente éxito con un descubrimiento de helio en Itumbula West-1, con un flujo del 5,5% de helio a superficie en el tercer trimestre de 2024, lo que llevó a la aprobación de la licencia minera en marzo de 2025.
Helium One Global은 콜로라도 주 라스 아니마스 카운티에 위치한 Galactica 헬륨 프로젝트의 개발정 State-9의 시추를 시작했다고 발표했습니다. 이는 Galactica 개발 캠페인에서 여섯 번째 우물입니다. 이 우물은 Lyons 사암층을 목표로 하며, 중간 구간 시추 준비가 진행 중입니다. 이 프로젝트는 Blue Star Helium이 운영하며, Helium One은 50% 작업 지분을 보유하고 있습니다. 팜인 계약에 따라 Helium One은 이 우물의 첫 450,000 미 달러를 자금 지원할 예정입니다. 회사의 주력 프로젝트인 탄자니아 루크와 프로젝트는 최근 Itumbula West-1에서 헬륨 발견에 성공했으며, 2024년 3분기에 5.5% 헬륨이 지표면으로 유출되어 2025년 3월 채굴 허가를 받았습니다.
Helium One Global a annoncé le démarrage du forage du puits de développement State-9 dans son projet Galactica helium situé dans le comté de Las Animas, Colorado. Il s'agit du sixième puits de la campagne de développement Galactica. Le puits ciblera la formation de grès Lyons, avec des préparatifs en cours pour forer la section intermédiaire. Le projet est exploité par Blue Star Helium, Helium One détenant une participation opérationnelle de 50%. Dans le cadre de l'accord de farm-in, Helium One financera les premiers 450 000 dollars US de ce puits. Le projet phare de la société, Rukwa en Tanzanie, a récemment rencontré le succès avec une découverte d'hélium à Itumbula West-1, produisant un flux de 5,5 % d'hélium en surface au troisième trimestre 2024, ce qui a conduit à l'approbation d'une licence minière en mars 2025.
Helium One Global hat den Beginn der Bohrung des Entwicklungsbohrlochs State-9 bei seinem Galactica Helium-Projekt im Las Animas County, Colorado, bekannt gegeben. Dies ist der sechste Bohrung im Galactica-Entwicklungskampagne. Das Bohrloch zielt auf die Lyons Sandstein-Formation ab, und die Vorbereitungen für die Bohrung des Zwischenabschnitts sind im Gange. Das Projekt wird von Blue Star Helium betrieben, wobei Helium One einen 50%igen Arbeitsanteil hält. Gemäß der Farm-in-Vereinbarung wird Helium One die ersten 450.000 US-Dollar für dieses Bohrloch finanzieren. Das Flaggschiff-Projekt des Unternehmens, das Rukwa-Projekt in Tansania, war kürzlich erfolgreich mit einer Heliumentdeckung bei Itumbula West-1, die im dritten Quartal 2024 einen Heliumgehalt von 5,5% an der Oberfläche förderte und im März 2025 zur Genehmigung der Bergbaulizenz führte.
Positive
Sixth well development indicates steady project progression
Strategic 50% working interest in the Galactica-Pegasus project
Recent success in Tanzania operations with 5.5% helium flow
Mining License secured in Tanzania in March 2025
Negative
Limited financial commitment of $450,000 suggests constrained investment capacity
Dependency on third-party operator Blue Star Helium for project execution
LONDON, GB / ACCESS Newswire / May 21, 2025 / Helium One Global (AIM:HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA ("the Galactica Project"), provides an update following the Blue Star Helium (ASX: BNL) ("Blue Star") announcement issued today regarding the Galactica Project.
Highlights
State-9 SWSE 3054 ("State-9") development well spudded at the Galactica helium project
Currently preparing to drill intermediate hole section
Details
The Company is pleased to announce the spudding of the State-9 development well at its Galactica helium project in Las Animas County, Colorado. This is the sixth well to be drilled in the Galactica development campaign.
The shallow conductor has been set and blowout preventers are being installed and tested, and the next phase will be to drill through the intermediate hole section. After casing at the base of the intermediate section, the well will target the Lyons Sandstone Formation, with Total Depth ("TD") planned within the Upper Lyons Formation gas reservoir.
When TD is reached, wireline logging will then be commenced, followed by flow and pressure readings at the wellhead. This data will be used to estimate the production potential of the well based on the production model.
State-9 is anticipated to be completed and ultimately tied-in to production facilities.
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 $450,000 of this well.
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 Lorna Blaisse, CEO Graham Jacobs, Finance and Commercial Director
+44 20 7920 3150
Panmure LiberumLimited (Nominated Adviser and Joint Broker) Scott Mathieson Nikhil Varghese
+44 20 3100 2000
Zeus Capital Limited (Joint Broker) Simon Johnson Louisa Waddell
+44 20 3829 5000
Tavistock(Financial PR) Nick Elwes Tara Vivian-Neal
+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 10.4% helium by volume. All Helium One's licences are held on a 100% equity basis.
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 5.5% helium continually to surface in Q3 2024.
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 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL).
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.
What is the State-9 well development at Helium One's (HLOGF) Galactica Project?
State-9 is the sixth development well being drilled at the Galactica helium project in Las Animas County, Colorado, targeting the Lyons Sandstone Formation. The well is currently in the preparation phase for drilling the intermediate hole section.
What is Helium One's (HLOGF) ownership stake in the Galactica Project?
Helium One Global holds a 50% working interest in the Galactica-Pegasus helium development project, which is operated by Blue Star Helium in Colorado, USA.
How much is Helium One (HLOGF) investing in the State-9 well?
Under the farm-in agreement, Helium One will fund the first US $450,000 of the State-9 well development.
What recent successes has Helium One (HLOGF) achieved in Tanzania?
In Q3 2024, Helium One successfully flowed 5.5% helium continuously to surface at Itumbula West-1 in the Rukwa Project, leading to a Mining License approval in March 2025.
What is the current status of the State-9 well drilling operation?
The shallow conductor has been set, and blowout preventers are being installed and tested. The next phase will be drilling the intermediate hole section, followed by targeting the Lyons Sandstone Formation.
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