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Helium One Global Ltd - State-9 Well Drilled to TD and Free Gas Confirmed

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Helium One Global (HLOGF) reports successful drilling of the State-9 well at the Galactica-Pegasus helium development project in Colorado, where it holds a 50% working interest. The well reached a total depth of 1,225ft with confirmed free gas presence through wireline logs. Key findings include 60ft of high-quality gas-saturated sands with 22-26% porosity in the Upper Lyons Sandstone Formation. The well demonstrated strong natural flow during drilling, with no water encountered. Gas samples have been sent for laboratory analysis to determine helium and CO2 concentrations. The well is being prepared for surface pressure readings and flow testing, with plans for production facility integration upon successful testing. Under the farm-in agreement with Blue Star Helium, Helium One will fund the first US $450,000 of this well.
Helium One Global (HLOGF) annuncia la perforazione riuscita del pozzo State-9 nel progetto di sviluppo dell'elio Galactica-Pegasus in Colorado, dove detiene una partecipazione del 50%. Il pozzo ha raggiunto una profondità totale di 1.225 piedi, con conferma della presenza di gas libero tramite registrazioni wireline. I risultati principali includono 60 piedi di sabbie di alta qualità sature di gas con porosità del 22-26% nella formazione Upper Lyons Sandstone. Durante la perforazione, il pozzo ha mostrato un forte flusso naturale, senza riscontrare acqua. I campioni di gas sono stati inviati a laboratorio per l'analisi delle concentrazioni di elio e CO2. Il pozzo è in fase di preparazione per misurazioni di pressione superficiale e test di flusso, con piani per l'integrazione degli impianti di produzione in caso di esito positivo dei test. Secondo l'accordo di farm-in con Blue Star Helium, Helium One finanzierà i primi 450.000 dollari USA di questo pozzo.
Helium One Global (HLOGF) informa sobre la exitosa perforación del pozo State-9 en el proyecto de desarrollo de helio Galactica-Pegasus en Colorado, donde posee una participación del 50%. El pozo alcanzó una profundidad total de 1,225 pies, confirmándose la presencia de gas libre mediante registros wireline. Los hallazgos clave incluyen 60 pies de arenas saturadas de gas de alta calidad con una porosidad del 22-26% en la formación Upper Lyons Sandstone. Durante la perforación, el pozo mostró un fuerte flujo natural sin encontrar agua. Las muestras de gas han sido enviadas a laboratorio para analizar las concentraciones de helio y CO2. El pozo se está preparando para lecturas de presión superficial y pruebas de flujo, con planes para integrar la instalación de producción tras pruebas exitosas. Bajo el acuerdo de farm-in con Blue Star Helium, Helium One financiará los primeros 450,000 dólares estadounidenses de este pozo.
Helium One Global(HLOGF)는 콜로라도의 Galactica-Pegasus 헬륨 개발 프로젝트에서 50%의 작업 지분을 보유한 State-9 우물의 성공적인 시추를 보고했습니다. 이 우물은 총 1,225피트 깊이에 도달했으며 와이어라인 로그를 통해 자유 가스의 존재가 확인되었습니다. 주요 발견 사항으로는 Upper Lyons Sandstone 지층에서 22-26%의 공극률을 가진 60피트의 고품질 가스 포화 모래층이 포함됩니다. 시추 중 우물은 강한 자연 유량을 보였으며 물은 발견되지 않았습니다. 헬륨과 CO2 농도를 확인하기 위해 가스 샘플이 실험실로 보내졌습니다. 현재 우물은 표면 압력 측정 및 유량 테스트를 준비 중이며, 테스트가 성공하면 생산 시설 통합 계획이 있습니다. Blue Star Helium과의 팜인 계약에 따라 Helium One은 이 우물의 첫 45만 달러를 자금 지원할 예정입니다.
Helium One Global (HLOGF) annonce le forage réussi du puits State-9 dans le projet de développement d'hélium Galactica-Pegasus au Colorado, où il détient une participation de 50%. Le puits a atteint une profondeur totale de 1 225 pieds, avec la présence confirmée de gaz libre via des enregistrements wireline. Les principales découvertes incluent 60 pieds de sables de haute qualité saturés en gaz avec une porosité de 22 à 26 % dans la formation Upper Lyons Sandstone. Le puits a démontré un fort débit naturel pendant le forage, sans rencontrer d'eau. Des échantillons de gaz ont été envoyés en laboratoire pour analyser les concentrations d'hélium et de CO2. Le puits est en cours de préparation pour des mesures de pression en surface et des tests de débit, avec des plans d'intégration à l'installation de production en cas de tests concluants. Selon l'accord de farm-in avec Blue Star Helium, Helium One financera les premiers 450 000 dollars US de ce puits.
Helium One Global (HLOGF) berichtet über die erfolgreiche Bohrung des State-9-Brunnens im Galactica-Pegasus-Helium-Entwicklungsprojekt in Colorado, an dem das Unternehmen eine 50%ige Beteiligung hält. Der Brunnen erreichte eine Gesamttiefe von 1.225 Fuß, wobei durch Wireline-Logs freies Gas bestätigt wurde. Wichtige Erkenntnisse umfassen 60 Fuß hochwertiger, gasgesättigter Sandsteine mit einer Porosität von 22-26% in der Upper Lyons Sandstone Formation. Während der Bohrung zeigte der Brunnen einen starken natürlichen Fluss, ohne Wasser zu begegnen. Gasproben wurden zur Laboranalyse geschickt, um Helium- und CO2-Konzentrationen zu bestimmen. Der Brunnen wird für Oberflächendruckmessungen und Fließtests vorbereitet, mit Plänen zur Integration in die Produktionsanlage bei erfolgreichem Test. Gemäß der Farm-in-Vereinbarung mit Blue Star Helium wird Helium One die ersten 450.000 US-Dollar dieses Brunnens finanzieren.
Positive
  • Strong natural gas flow confirmed during drilling and at total depth
  • High-quality reservoir characteristics with 22-26% porosity in gas-saturated sands
  • No water encountered during drilling, indicating clean gas production potential
  • Well positioned for production facility integration upon successful testing
Negative
  • Laboratory analysis of helium concentration still pending, creating uncertainty about actual helium content
  • Limited to 50% working interest in the project

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.

LONDON, UK / ACCESS Newswire / June 3, 2025 / Helium One Global (AIM:HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA ("the Galactica Project"), provides an update following the Blue Star Helium (ASX:BNL) ("Blue Star") announcement issued today regarding the Galactica Project.



Highlights

  • State-9 well successfully drilled to total depth ("TD") of 1,225ft (373m) measured depth ("MD") with free gas confirmed by wireline logs

  • Well flowed naturally during drilling and at TD, demonstrating good reservoir communication

  • The well encountered 60ft (18m) gross pay of high-quality (22-26% porosity based on petrophysics from offset wells JXSN-1,-2,-3,-4 and Sate-16), gas-saturated sands in the Upper Lyons Sandstone Formation

  • Samples sent to laboratory for analyses of helium and CO2 concentrations

  • Well head being installed ahead of surface pressure readings and flow testing

State-9 Well Drilling and Initial Flow Test Results

The State-9 development well encountered the Lyons Sandstone Formation at a depth of 1,165ft (355m) MD and was completed 60ft (18m) into the Upper Lyons Sandstone Formation at 1,225ft (373m). The well exhibited strong natural flow during drilling and at TD, in line with the recent Jackson-2, Jackson-27, Jackson-29, Jackson-31 and Jackson-4 wells.

Significantly, no water was encountered during drilling of the Lyons Sandstone Formation and wireline logs confirmed this. Based on offset wells, it is likely that the entire Upper Lyons Sandstone Formation, and a significant portion of the Lower Lyons Sandstone Formation will be gas saturated. State-9 targeted the highest quality sandstone at the top of the Upper Lyons Sandstone Formation, which is connected to the entire gas column.

During the natural flow of the well, early gas samples were taken (note, these will be contaminated from air-drilling and will require air-correcting) and are being delivered for laboratory analyses of helium and CO2 concentrations.

The well head installation is being completed ahead of surface pressure readings, flow testing and further gas sampling.

It is anticipated that, upon successful testing at State-9, the well will be completed, ready to be tied-in to production facilities.

The rig has now been released.

Galactica/Pegasus Development

The Galactica project forms part of the broader Galactica/Pegasus development, discovered by Blue Star in 2022. This large-scale project offers multiple potential product streams. Blue Star is advancing the Galactica project in joint venture with Helium One Global Ltd. Under the farm-in agreement, Helium One will fund the first US $450,000 of this well.

The third-party owned Red Rocks helium project adjoins Blue Star's Galactica Project (see map below). Development of Red Rocks further supports the commercialisation of the Galactica Project.

For further information please visit the Company's website: www.helium-one.com

Contact

Helium One Global Ltd
Lorna Blaisse, CEO
Graham Jacobs, Finance and Commercial Director

+44 20 7920 3150

Panmure Liberum Limited (Nominated Adviser and Joint Broker)
Scott Mathieson
Nikhil Varghese

+44 20 3100 2000

Zeus Capital Limited (Joint Broker)
Simon Johnson
Louisa Waddell

+44 20 3829 5000

Tavistock(Financial PR)
Nick Elwes
Tara Vivian-Neal

+44 20 7920 3150

Notes to Editors

Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across two distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.

The Rukwa and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. These assets lie near surface seeps with helium concentrations ranging up to 10.4% helium by volume. All Helium One's licences are held on a 100% equity basis.

The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania. This project is considered to be entering an appraisal stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test, successfully flowed 5.5% helium continually to surface in Q3 2024.

Following the success of the extended well test, the Company flowed significant quantities of helium to surface and filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024. The 480km2 ML has now been offered to the Company and was officially accepted in March 2025.

The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL).

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Helium One Global Ltd



View the original press release on ACCESS Newswire

FAQ

What are the key findings from HLOGF's State-9 well drilling results?

The State-9 well reached 1,225ft depth, encountering 60ft of high-quality gas-saturated sands with 22-26% porosity in the Upper Lyons Sandstone Formation, showing strong natural flow with no water presence.

What is Helium One Global's stake in the Galactica-Pegasus project?

Helium One Global holds a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, and will fund the first US $450,000 of the State-9 well under the farm-in agreement.

What is the next step for HLOGF's State-9 well?

The next steps include completing well head installation, conducting surface pressure readings, flow testing, and further gas sampling, followed by potential integration with production facilities upon successful testing.

What is the significance of no water encountered during drilling?

The absence of water during drilling indicates clean gas production potential and suggests that both Upper and Lower Lyons Sandstone Formation may be gas saturated, which is positive for production potential.

When will the helium concentration results be available for the State-9 well?

Gas samples have been sent for laboratory analysis to determine helium and CO2 concentrations, but the announcement does not specify when results will be available.
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