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Helium One pressing ahead with Phase 2 programme

In an interview with Helium One CEO David Minchin, the company's drilling plans for 2022 were discussed. There was a focus on discovery through drilling of the Tai prospect. Drill locations would be guided by Phase II seismic studies which have improved definition of the Tai structure and identified an untested closure as well. Lastly, Minchin mentioned that due diligence and contract negotiations are ongoing for a drilling rig located in East Africa.

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Helium One ended 2022 with a net cash balance of US$13.7mm, providing ample cash for its upcoming drilling campaign. In H2'22, cash outflow from operations was US$1.6mm and capital expenditure US$1.5m

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