8th Jan 2024 11:31
Helium One Global Ltd - Tanzania-focused helium explorer - Says drilling commenced on Saturday at the Itumbula West-1 well. In December, Helium One managed to raise GBP6.1 million from a placing and subscription of 2.42 billion new shares at 0.25 pence each to support drilling at Itumbula. The company says that drilling will target two fault zones which are thought to contain elevated concentrations of helium following a data-gathering project at the Tai-3 well in December. Drilling will also involve an "open hole well test" to measure gas shows using Geolog's mud logging services. Once these have been evaluated, Helium One may take further, downhole samples. The company expects the process from initial spud to the completion of mud logging and well testing to take around four to five weeks. A field pressure-volume-temperature specialist will be on site to measure helium gas samples, and Baker Hughes Co will provide service for wireline, fluids and cementing. Read More
