Helium One Investor Update Jul'24

Helium One Global presented an investor update on its Tanzania operations ahead of an extended well test (EWT) over the next few months. It is targeting the faulted Karoo and fractured Basement zones which tested for 4.7% helium from the Itumbula West-1 well. The company expects to take 4-6 weeks to complete the EWT once the operations begin. The company estimated that the cost of infrastructure needed to commercialise might be ~US$50mm. This projection is based on preliminary engineering studies aimed at designing a scalable, modular processing facility to accommodate varying flow rates and the number of wells required.

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