Highlights

  • Helium One prepares ITW-1 well for Electrical Submersible Pump testing in southern Rukwa.
  • Wireline logging underway to assess fracture network before commencing ESP operations.
  • Company awarded Tanzania Mineral Processing incentives, boosting operational support and fiscal relief.

Helium One Global (LSE:HE1), a primary helium explorer in Tanzania, has commenced the next phase of its southern Rukwa Helium Project. Operations at the ITW-1 well are progressing ahead of the deployment of an Electrical Submersible Pump (ESP), which is expected to arrive in Tanzania by mid to late December.

The Company’s Predator 220 drilling rig successfully re-entered the ITW-1 wellbore, retrieving the 2⅞" completion string and production packers. This prepares the well for follow-on wireline logging by Digital Borehole Surveying (PTY) Ltd, which is currently acquiring in situ logs to evaluate the open hole Basement section.

ESP Mobilisation and Planned Testing

The ESP will be installed to increase flow rates from the discovery well, enabling Helium One to assess helium concentration and the gas-water ratio at higher production levels. In preparation, civils work for water disposal during ESP operations and road upgrades ahead of the wet season have been completed.

Helium One noted that while significant volumes of water are expected during ESP testing, the helium remains in its free gas state. Understanding water flow rates is critical for evaluating helium production, as highlighted in the Sproule ERCE CPR on ITW-1 (May 2025).

Government Incentives Support Project Development

Helium One has been awarded a "Certificate of Incentives" for Mineral Processing by the Tanzania Investment and Special Economic Zones Authority (TISEZA). This provides access to fiscal incentives, including relief from import duties, facilitating ongoing and future operations in the region. The Company awaits formal execution of regulatory agreements following recent governmental elections.

CEO Commentary

Lorna Blaisse, CEO of Helium One, stated:

"We remain hopeful that using an ESP to increase flow rates will improve helium concentration and advance our resource classification towards bookable reserves. The team continues to execute this important phase, and we appreciate the support from local communities and the Ministry of Minerals."

Share Price Snapshot
HE1 was trading 3.90% lower at GBX 0.37 per share as of 08 December 2025.