Noble Helium Completes Mbelele-2 Well with Helium Shows; Secures A$ 4.35mm VAT Loan
- Taher Shehabi
- Nov 27, 2023
- 3 min read
Noble Helium successfully concluded drilling at Mbelele-2 in Tanzania, reaching a Total Depth of 763.5mMD in the basement. Preliminary data indicates substantial helium presence in multiple zones of interest, affirming positive results from Mbelele-1. The wireline logging and sampling program is underway, with results expected in mid-December. Additionally, the company secured a A$4.35mm unsecured VAT loan (at 15% p.a. maturing in Dec'25) to cover project expenses and working capital. The loan is repayable in cash and leverages anticipated VAT refunds from the Tanzanian Revenue Authority.
