- Helium One Global (HLOGF, Financial) spudded the Jackson-27 well at its Galactica helium project in Colorado, aiming at the Lyons Sandstone Formation.
- The company holds a 50% working interest in the project, with an initial US $450,000 funding commitment under a farm-in agreement.
- Helium One recently acquired a 480 km² Mining License in Tanzania following a successful helium discovery.
Helium One Global Ltd (HLOGF) has announced the successful spudding of the Jackson-27 development well at its Galactica helium project located in Las Animas County, Colorado. Operating with a 50% stake, the company targets the Lyons Sandstone Formation, a key area anticipated to offer promising helium yields.
The operations at the site have progressed with the installation of the shallow conductor and blowout preventers. The focus now moves to drilling through the intermediate hole section. Following this, wireline logging and flow/pressure evaluations will be conducted to assess production potential at the wellhead.
In a strategic move to enhance its resource base, Helium One Global has further solidified its presence in Tanzania by accepting a 480 km² Mining License, marking a significant step following their Itumbula West-1 discovery. This site impressively showcased a 5.5% continuous helium flow to the surface in Q3 2024, highlighting the region's resource potential.
The Galactica project, initially discovered by Blue Star Helium in 2022, is part of the wider Galactica/Pegasus development, which is adjacent to the Red Rocks helium project. This adjacency bolsters the commercialization potential of the Galactica project, positioning it as a significant player in the helium market.
Through its strategic operations and collaborations, Helium One Global Ltd continues to advance its objectives both in the United States and Tanzania, aiming to meet the growing global demand for helium, a critical element in various high-tech industries.
