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LONDON - Helium One Global Ltd (LON:HE1H) (AIM: HE1), a Tanzanian helium exploration company with a significant stake in the Galactica-Pegasus project in Colorado, USA, announced an operational update on the Jackson-29 well, currently under development in partnership with Blue Star Helium (ASX: BNL). Despite weather-induced delays, the intermediate hole section of the well has been drilled and cased, with evaluation processes underway.
The Jackson-29 well, situated within the Galactica Project, reached a depth of approximately 1,110 feet (338 meters). Operations were suspended due to adverse weather conditions but are expected to resume early next week, weather permitting. The next steps involve evaluating the cementing program, running a mandatory cement bond log (CBL) to confirm bonding, and drilling into the target Lyons Formation. The well will be terminated within the Upper Lyons Sandstone Formation, after which it will undergo wireline logging and fitting of a wellhead for flow and pressure readings.
Upon successful testing, Helium One anticipates that Jackson-29 will be completed and ready for tie-in to production facilities, marking a significant milestone in the development of the Galactica Project. The company, which holds a 50% working interest in the project, also reported a successful helium discovery at its flagship Rukwa Project in Tanzania and has been offered a Mining Licence by the Tanzania Mining Commission as of March 2025.
Helium One’s involvement in the helium sector is notable as the company holds prospecting licenses in Tanzania with high helium concentrations and is now expanding its footprint in the United States. The successful development of Jackson-29 and the Rukwa Project could position Helium One as a key player in the global helium market, which currently faces supply constraints.
This update is based on a press release statement from Helium One Global Ltd. The company is listed on the AIM market of the London Stock Exchange (LON:LSEG) and the OTCQB in the United States.
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