Helium One achieves first helium sale, transitioning from explorer to producer

Published Jul 15, 03:04 PM UTC

Helium One Global Ltd (AIM:HE1) has achieved its first helium sale from the Galactica project in the US, marking a transformational shift from a pure explorer to an exploration and production company, according to CEO Lorna Blaisse and chairman Clive Carver. The company has multiple wells tied into the Galactica facility, which is moving toward continuous 24/7 operations, with a short-term offtake agreement in place and longer-term supply discussions ongoing. The joint venture is also evaluating opportunities to monetize associated carbon dioxide and plans additional development wells. At the Southern Rukwa project in Tanzania, geological modeling is being refined for a next phase targeting fractured basement reservoirs, with potential cluster wells connected to a central processing facility. PVE has been appointed to manage a farm-out process, with several parties already engaged. Key catalysts include increased Colorado production, a Southern Rukwa farm-out, and new project opportunities.