Helium One Global Ltd (AIM: HE1), the primary helium explorer in Tanzania and 50% interest holder in the Galactica-Pegasus project in Colorado, USA, has published its audited results for the year ended 30 June 2026. The company reported a total comprehensive loss attributable to equity holders of US$3,413,295, reduced from US$4,857,406 in the prior year, while net assets grew to US$67,919,638 from US$53,202,847. The year was marked by two significant milestones: first helium sales from the US project achieved post-period in July 2026, and the award of Tanzania's first helium mining licence covering 480 km².

Key Points

  • Helium One Global Ltd (AIM: HE1), primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus project in Colorado, USA
  • Audited results for the year ended 30 June 2026 published, showing a reduced total comprehensive loss of US$3,413,295 and net assets of US$67,919,638
  • First helium sales achieved post-period in July 2026 from the Piñon Canyon Plant; helium purchase and sales agreement extended to 31 March 2027; £13.8 million raised during the year and a further £3 million raised in October 2026
  • Investors may be watching progress on the Southern Rukwa farm-out process and the planned deepening of three existing Galactica wells in Q4 2026

Piñon Canyon Plant Achieves First Gas in December 2025 and First Helium Sales in July 2026

At the Galactica-Pegasus project in Colorado, the Piñon Canyon processing facility was commissioned with six development wells drilled and tied in, achieving first gas in December 2025. First helium sales followed in July 2026 at spot prices, with sales under a short-term offtake agreement commencing shortly afterwards. The initial three-month helium purchase and sales agreement, signed in June 2026, was subsequently extended to 31 March 2027. The operator, Blue Star Helium, plans to deepen three existing Galactica wells in Q4 2026, followed by a further nine wells in 2027, subject to necessary permissions, with commercial discussions on CO₂ co-production and liquefaction also continuing.

ESP Testing at ITW-1 Delivers Sixfold Flow Rate Increase and Sustained Helium Concentrations of 5.4%

At the Southern Rukwa project in Tanzania, Electrical Submersible Pump testing at the Itumbula West-1 well ran from 26 January to 14 February 2026 for over 450 hours without maintenance or downtime. The ESP achieved flow rates of up to the equivalent of 16,400 barrels per day, representing a sixfold increase compared with natural flow rates recorded during the 2024 Extended Well Test. Sustained helium concentrations averaged 5.4% and peaked at 9.2% (both air corrected), with no decline observed over the testing period. Rapid pressure recovery after shut-in indicated a wider connected resource, the announcement states.

Tanzania Awards Helium One Its First 480 km² Helium Mining Licence and Songwe Helium Joint Venture Established

In July 2025, the Tanzanian government formally awarded Helium One a 480 km² Mining Licence in the southern Rukwa region — both Tanzania's first helium mining licence and the largest mining licence ever awarded in the country. The joint venture company Songwe Helium Ltd was incorporated, with Helium One holding an 83% interest and the Tanzanian Government holding a 17% free carried interest. The Framework Agreement and Shareholders' Agreement were formally executed in May 2026. A formal farm-out process, led by PVE Consulting Ltd, was launched in May 2026 to identify an industry partner for the project's next development phase.

Helium One Raises £13.8 Million During the Year and Appoints Cavendish as Joint Broker

The company raised a total of £13,875,000 during the year ended 30 June 2026 through the issue of new ordinary shares, with proceeds directed towards advancing both the Southern Rukwa and Galactica-Pegasus projects. A further £3 million was raised in October 2026 to cover expected operating costs for the remainder of the current financial year. The Group's cash position at 30 June 2026 stood at US$6,552,494, compared with US$3,152,755 at 30 June 2025. The company also announced the appointment of Cavendish Capital Markets Ltd as joint broker alongside existing advisers Panmure Liberum Ltd and Axis Capital Markets Ltd, with the aim of enhancing investor reach and research coverage.