Advancing strategic assets across two continents to resolve a supply constrained helium market
About us
Helium One was founded to explore, develop, and ultimately, become a producer of helium, a critical material essential in many modern technologies.
Helium One has identified and operates a globally unique, large-scale, high-grade, primary helium project in Tanzania, and also has a 50% stake in a 246km2 helium development project in Las Animas County, Colorado, USA with Blue Star Helium (ASX: BNL) as operator. The Company has the potential, and is looking to emerge as a strategic player in resolving a supply-constrained helium market.
1,372km2
Secured licences across two distinct project areas in Tanzania
10.4% He
Surface helium seeps up to 10.4% in southern Rukwa
2024
Company declared Tanzania’s first helium discovery in 2024 from Itumbula West-1 well
5.5% He
5.5% helium sustained flow to surface from southern Rukwa Helium Project
Licence
Company applied for a Tanzanian Mining Licence to strategically develop and commercialise the southern Rukwa helium project
Rig
Company owned drilling rig, located in Tanzania. Potential for revenue generation
50%
50% stake in a 246km2 helium development project in Colorado, USA
6% He
Confirmed Galactica-Pegasus discovery wells flowed up to 6% helium
Cash flow
Expected cash flow from Galactica-Pegasus H1 2025
The Rukwa (1,086 km2) and Eyasi (286 km2) projects are located within rift basins along the margin of the Tanzanian Craton in north and south-west Tanzania. These assets are positioned near surface seeps with helium concentrations ranging up to 10.4%, with no associated hydrocarbons or CO2 and only nitrogen as the carrier gas. All of Helium One’s Tanzania licences are held on a 100% equity basis.
The Company’s flagship southern Rukwa Helium Project is located within the southern Rukwa Rift Basin in south-west Tanzania. This project is entering an appraisal and development stage following the success of the 2023/24 exploration drilling campaign, which led to a helium discovery on the Itumbula West-1 (“ITW-1”) well. During an extended well test (“EWT”) in Q3 2024, ITW-1 successfully flowed 5.5% helium continually to surface and up to 7.9% helium was measured from the faulted Karoo and fractured Basement plays. Prior to this, the Company drilled two additional exploration wells (Tai-1/1A and Tai-3) on the Tai prospect in 2021 and 2023 respectively, and these encountered elevated helium shows during drilling and the first successful downhole helium sample in Tanzania (measured at 0.8% helium) was recovered to surface during these operations.
The ITW-1 discovery is globally unique as it is one of the very few helium projects which does not have any associated hydrocarbons or CO2, firmly positioning it within the “green” helium space.
Following the success of the EWT, the Company has now filed a Mining Licence (“ML”) application with the Mining Commission of the Tanzanian Government, The ML is seeking to retain the Itumbula, Tai and southern prospective areas to allow for a commercial development.
In July 2023, the Company purchased its own rig: a Epiroc 220 drilling rig, which meets with international oil and gas specifications, and imported it into Tanzania, where it currently resides. This bold and strategic move enabled the Company to drill and evaluate its prospects in the southern Rukwa Basin and move quickly to a testing phase after the ITW-1 discovery. Ownership of this rig will also enable the Company to fast-track the appraisal and development phase of the Rukwa Project once the ML is awarded.
In order to progress the Company’s strategy of becoming a diversified helium player, the Company has also completed a farm-in gaining a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA, which covers an area of 246 km2 (61,000 gross acres). This project is operated by Blue Star Helium Ltd (ASX: BNL). Confirmed discovery wells in the region have flowed up to 6% helium (average of 3%) as free gas and the wells are close to existing helium infrastructure. Blue Star drilled the State-16 development well in June 2024 which flowed 1.9% helium at 285 thousand cubic feet per day in addition to 70% CO2. The Company’s internal gross resource estimates, assuming a P50 Helium concentration of 3%, are 675 million cubic feet.
Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF.