ITUMBULA WEST-1 WELL FLOWS HELIUM(4.7%) TO SURFACE
RNS Number : 9445B
Helium One Global Ltd
05 February 2024
Lorna Blaisse, Chief Executive Officer, commented:
"We are delighted with the findings from Itumbula West-1 and the results from the down hole well testing have clearly confirmed the presence of a producing helium province in the Rukwa Rift Basin. The learnings from the Tai-3 well provided invaluable additional subsurface information and how the helium system works. By applying these findings, we adjusted our well location at Itumbula, and this has certainly yielded the results we were hoping for and justified that decision.
Flowing helium to surface in such high concentrations is a huge milestone for the Company and we will now fully evaluate these results and focus on advancing this project in the most effective way possible; one that will aim to achieve commerciality at the earliest opportunity.
This drilling campaign has been a huge success for both the Company and for Tanzania. I would like to thank all of those involved in bringing the project to this point of success - especially to our in-country teams and for the continued support from the Ministry of Minerals and the Mining Commission of Tanzania, as well as the local communities where we operate.
We look forward to providing further updates as we fully evaluate the results and outline how we are planning the next steps to advance the project."
Highlights
· Itumbula West-1 well has successfully completed all wireline logging and drill stem testing ("DST") operations
· The well successfully flowed a high concentration of helium to surface from Basement, at a measured concentration up to 4.7% helium
· A measured helium concentration of 4.7% equates to almost nine thousand times above background levels
· Hydrogen also flowed to surface during basement testing, at a concentration of 2.2% hydrogen, over thirty-seven thousand times above background levels
· Wireline logs, including image logs, demonstrated the location of fault and fracture zones and these were used to locate optimal well test intervals
· Downhole fluid samples have been obtained from three separate well test intervals, in the Basement and across the fault zones, all were analysed at surface in an onsite pressure-volume-temperature ("PVT") laboratory and indicated the presence of elevated helium
· Duplicate samples collected from all three well test intervals will be sent to a second laboratory for analysis
· Hot Basement fluids, measuring >80°C, encountered across the fault zone and in the Basement and are consistent with helium and hydrogen prone intervals
· Elevated temperatures consistent with a low enthalpy geothermal system
· The well is now being cased and suspended and the Company will fully evaluate the well results and focus on advancing this project in the most effective way possible
· Non-productive time ("NPT") for the Epiroc Predator 220 drilling rig reduced by over 350% between Tai-3 and Itumbula West-1
· Zero Lost Time Injuries ("LTI") across the two well drilling programme of Tai-3 and Itumbula West-1
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