Helium exploration company Helium One (AIM: HE1) has announced the commencement of its exploration drilling program at the Rukwa Project in southwestern Tanzania on 12th June 2021.
The company plans a three wells program targeting shallow structures in close proximity to the Itumbula Helium Seeps.
Each well is planned to test a different trapping style, therefore providing information essential in de-risking the company’s portfolio of prospects across the basin.
Drilling of the first well is expected to take approximately one month to complete and will produce valuable information about the subsurface.
Helium detection will be constantly monitored during drilling to identify helium gas shows from mud logging.
On completion, wireline logs will be run to measure formation properties downhole, as well as identifying any pay zones in the success case.
Any discovery will be tested with a drill stem test to attempt to flow a sample of gas to surface for grade analysis.
Helium One CEO David Minchin commented: “The exploration program is the culmination of five years of dedicated work. Each well will take roughly one month to complete with lessons learned from the first well applied to refine and de-risk drilling of subsequent wells. We look forward to announcing results of our first well at what is a potentially transformative time for the company.”
The Rukwa Helium Project
Rukwa is a large-scale, high-grade, primary helium project covering an area of approximately 3,590 km2 in southwestern Tanzania with the potential to become a strategic asset in resolving a supply-constrained market.
Rukwa hosts independently verified (SRK-2019) Best-Estimate Unrisked Prospective Recoverable Helium Resource (2U/P50) of 138 billion cubic feet (Bcf), making this the largest known primary helium resource in the world.
The 2U Risked Prospective Resource is estimated at 14.0 Bcf.