Helium One Global is firing on all cylinders with positive news from its Tanzanian helium project, released today, following an encouraging update on its Colorado-based Galactica project last week.
The company has completed Electrical Submersible Pump (ESP) testing at its ITW-1 well in the southern Rukwa Helium Project in Tanzania, delivering a significant increase in flow performance.
Helium One shares were 20% higher at the time of writing.
Over a 20-day testing period, the well produced the equivalent of more than 250,000 barrels of water, achieving flow rates of up to 16,400 barrels per day – a six-fold increase compared with natural flow rates recorded during the 2024 Extended Well Test.
Helium concentrations were sustained at 5.4% (air corrected), with a peak reading of 9.2% at the surface. Average gas-to-water ratio readings were 0.06 m³/m³, peaking at 0.1 m³/m³ during continuous flow. Downhole temperature and salinity data indicate fluid mixing from both Basement and Karoo Group aquifer sources.
Encouragingly, wellhead and downhole pressures re-pressurised quickly upon shut-in, suggesting robust reservoir support.
With testing now complete, Helium One said it will commence a strategic farmout process to identify and select a suitable industry partner for the project’s next phase of development.
“The successful completion of the ESP testing programme represents an important operational milestone for Helium One and further demonstrates the production potential of the southern Rukwa Helium Project,” said James Smith, Chairman, Helium One.
“The testing delivered consistent and reliable operational performance, with ESP flow rates exceeding expectations and sustained helium concentrations in line with anticipated ranges. Whilst the gas water ratio was towards the lower end of the expected outcome range, the results provide valuable technical insight and further support the Company’s understanding of the subsurface system.”