Helium One declared that it completed the drilling of its first well, Tai-1A, at the Rukwa helium project in Tanzania and encountered helium shows in a total of five intervals of the Karoo formation including all three pre-drill targets. Unfortunately, only one of the 5 intervals could be logged and tested further because of deteriorating conditions at the site. The uppermost interval indicated good reservoir potential, but the petrophysical analysis indicated no free gas in the thinly bedded Karoo sands associated with helium shows. This news also led to a steep fall in the company’s shares.
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