Highlights

  • ESP testing achieved a six-fold increase in flow rate, producing the equivalent of 16,400 barrels per day (bpd) and over 250,000 barrels of water during 20 days of continuous testing.
  • Helium concentrations were sustained at an average of 5.4% (air corrected), peaking at 9.2%, confirming the helium-enriched nature of the reservoir fluids.
  • Well shut-in tests showed rapid re-pressurisation at both the wellhead and downhole, indicating good reservoir connectivity and support for future production.

Helium One Global (LSE:HE1), the primary helium explorer in Tanzania and a 50% stakeholder in the Galactica-Pegasus helium project in Colorado, has completed Electrical Submersible Pump (ESP) testing at its ITW‑1 well in the southern Rukwa Helium Project. The testing programme, which ran from 26 January to 14 February 2026, delivered key operational and technical data, demonstrating a significant increase in flow rates while maintaining helium concentrations and providing encouraging indications of reservoir support.

ESP Testing and Operational Update

The ESP, provided and operated by CenerTech Group, ran for more than 450 hours with no maintenance or downtime. Average flow rates were 15,000 bpd, representing a six-fold increase compared with natural flow observed during the 2024 Extended Well Test (EWT). Gas-water ratio measurements averaged 0.06 m³/m³, with a peak of 0.1 m³/m³, exceeding previous estimates used in the Competent Persons Report.

Temperature and salinity readings suggest mixing between Basement-sourced fluids and a shallower Karoo Group aquifer, which slightly diluted helium concentrations. The pump was set at a measured depth of 1,061m in the fractured Basement, slightly shallower than planned due to open hole ledges. A packer was deployed in the Karoo Group to reduce commingled flow, though some influence from the aquifer persisted.

Reservoir Support and Future Work

After shutting in the well, rapid re-pressurisation of downhole and wellhead pressure was observed, suggesting encouraging reservoir support and potential connectivity across the broader resource. The ESP test also demonstrated that water disposal at surface can be effectively managed, supporting operational planning for future production.

Helium One will use the data from this testing to evaluate fluid sources and reservoir interactions further. The Company plans additional drilling and testing across its 480 km² Mining Licence, targeting primary fractured Basement zones, many of which lie at shallower depths along fault lines. Data acquisition initiatives will support detailed assessment of Basement fractures and connectivity to maximise resource potential.

Strategic Farmout Process

To advance development, Helium One will commence a formal farmout process to identify and secure an industry partner. This step will facilitate third-party financing, accelerate project development, and support further appraisal of the southern Rukwa helium play.

The successful ESP testing at ITW‑1 marks a key operational milestone for Helium One Global, confirming high flow rates, sustained helium concentrations, and promising reservoir characteristics. The upcoming farmout process and continued appraisal activities will support the Company’s strategy to unlock the full potential of the southern Rukwa Helium Project.

FAQs

Q1: What flow rates were achieved during the ESP testing at ITW‑1?
A1: The ESP testing produced up to 16,400 barrels per day, a six-fold increase compared with natural flow during the 2024 Extended Well Test.

Q2: What were the helium concentrations during the test?
A2: Helium concentrations were sustained at an average of 5.4% (air corrected), with a peak concentration of 9.2% at surface.

Q3: What are Helium One’s next steps for the southern Rukwa Project?
A3: The Company will evaluate testing results, conduct additional drilling and testing of the Basement, and initiate a farmout process to secure a suitable industry partner for project development.