HE1 Helium One had an rns - announcement last nightThey got a...

HE1 Helium One had an rns - announcement last night

They got a raw gas flow rate of 500mcf/day = 0.5mmcf/day with 4.7% helium from basement about 950m deep. But sounds as though it includes fluids which might reduce the flow-rate? Plus they need to do an extended well test.

NHE gas cap only 85m deep so wonder if HE1 flow rates have any correlation on what to expect? Or not really as much shallower and maybe more free gas without these basement fluids? And maybe different porosity and permeability depending on the geology..

extracts from HE1 announcement below:

" Drill stem test ("DST") results carried out on the Itumbula West-1 well calculate a minimum flow rate of 0.5 million cubic feet per day ("mmscfd") containing 4.7% helium· Extended well test ("EWT") planned on Itumbula West-1 well in Q3 2024

Lorna Blaisse, Chief Executive Officer, commented:

"The Company's focus is now on appraising and evaluating the resource potential at Itumbula West-1. Whilst progressing the subsurface work, to better understand the resource estimates in a fractured Basement and fault play, we are planning the next phase of operations. An extended well test at site will enable us to confirm commercial flow rates and fluid composition,"