American Marconi Wireless News - Helium One Global Ltd Announces Southern Rukwa Helium Project Update

Highlights

• Purchase agreement executed for Electrical Submersible Pump ("ESP") and associated equipment

• Equipment to be provided by the CenerTech Group, which is part of the Chinese National Offshore Company (CNOOC)

• Civils work commenced at site for water disposal during ESP operations

• On track to commence ESP operations at ITW-1 in Q4 2025

Lorna Blaisse, Chief Executive Officer, commented:

"We are delighted to be advancing towards the next operational phase of development at ITW-1 in southern Rukwa. The ESP operations will enable us to increase flow rates and gain greater information on gas composition from the fractured Basement and Karoo intervals. We look forward to providing further updates as operations commence and progress."

Advancement of Next Phase of Operations in Southern Rukwa, Tanzania

The purchase contract and Quality Assurance/Quality Control process for the ESP and associated equipment were completed during a recent visit by Company personnel to CenerTech's manufacturing facility in China. Additional civils work at the ITW-1 wellsite have commenced, predominately to allow for water disposal. This operation will enable the Company to flow the well at significantly higher flow rates in order to gain a greater understanding of the source of the water in which the helium is in solution and establish the optimum production rates that will yield maximum helium concentrations. This information will be used to further enhance and evaluate the development programme and engineering.

Expiry of Prospecting Licences ("PL") in Southern Rukwa, Tanzania

Two PLs held by the Company (PL 10881 and PL 10882) have reached the end of their second and final renewal term and automatically lapsed on 21^st September 2025. The Company has fully relinquished these expired PLs and will focus on the southern Rukwa development within the 480km² developable Mining Licence area.

The Company continues to review all geological regions of Tanzania for helium potential and remains opportunistic for future PL applications.

Voluntary Delisting on the OTCQB Venture Market

The Company has notified OTC Markets Group Inc. of its intention to voluntarily delist the Company's ordinary shares from trading on the OTCQB Venture Market ("OTCQB").

The decision to delist from OTCQB was made following a review of trading volumes, costs, and the subsequent visibility that was hoped to be gained in the US market. The Board concluded that the continued quotation on OTCQB does not provide sufficient benefit to the Company or its shareholders to justify the associated costs.

The Company's shares will continue to be admitted to trading on the AIM market of the London Stock Exchange, which will remain the Company's primary trading venue.

The Company has requested that Its shares are delisted from OTCQB with effect from Tuesday 30 September 2025. Further announcements will be made as appropriate.

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

Notes to Editors
Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA. The Company holds helium licenses within two distinct helium project areas, across two continents. With an expanding global footprint, the Company has the potential to become a strategic player in resolving a supply-constrained helium market.

The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania. This project entering a full appraisal and development 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 ("EWT"), successfully flowed 5.5% helium continually to surface in Q3 2024.

Following the success of the EWT, the Company filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024 and the 480km² ML was formally awarded to the Company in July 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) and has successfully completed a six well development drilling campaign in H1 2025. The completion of the development programme is a key component of the broader Galactica-Pegasus development strategy; aimed at progressing the helium and CO₂ discoveries to near-term commercial production.

This programme has seen a systematic approach to developing the extensive Lyons Formation reservoir. The programme has delivered encouraging results, in line with expectations, consistently encountering good helium (up to 3.3% He) and CO₂ concentrations in the target formation and demonstrating promising flow potential. The next steps will see the Galactica wells tied into initial production in Q4 2025.

Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1.

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 [email protected] or visit www.rns.com.

SOURCE: Helium One Global Ltd

View the original press release on ACCESS Newswire

S.Gregor--AMWN