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Noble Helium Confirms Ngambwa Prospect with 2P 1.5bcf Helium

Noble Helium has identified a new prospect called Ngambwa in Tanzania's North Rukwa Helium Project, with an estimated prospective helium resource of 1.5 bcf (P50 estimate). This marks the tenth significant lead at the project, situated about 40km south of the Mbelele lead, where drilling is set to commence shortly. The company's CEO noted that Ngambwa provides portfolio diversity and can be drilled with simple, vertical wells, similar to its approach at Mbelele, reducing execution risk. The company plans to conduct further exploration to mature Ngambwa as a drillable prospect in its 2024 program. Meanwhile, the Marriott Rig#16 arrived in Tanzania and will be transported and assembled at the Mbelele-1 wellsite soon.

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