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Noble Helium's Mbelele-2 Well Reveals 2-3% Helium Resource

Updated: Dec 8, 2023

Noble successfully concluded wireline logging and sampling at the Mbelele-2 well in Tanzania's North Rukwa Helium Project, with results indicating a substantial helium resource potential. The downhole samples reveal concentrations of 2-3% air-corrected helium, and the gas bubbles in drilling mud suggesting high gas saturation. The Mbelele-2 well encountered ~163m of stacked net reservoir (+243% versus pre-drill estimates). Preliminary sample results show promising helium concentrations, and the company aims to move to flow testing for potential early monetisation. Mbelele-2 has been cased and suspended for future flow testing. Separately, the company also released its new investor presentation describing its assets and the helium market.

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