Helium One Global Ltd Reports First Helium Sales from Pinon Canyon Plant, Signaling Key Milestone in Colorado Project

First Helium Sale Concludes Commissioning Phase at Pinon Canyon Plant in Colorado

On 14 July 2026, Helium One Global Ltd confirmed the sale and dispatch of the first helium production tube trailer from the Pinon Canyon Plant, located in Las Animas County, Colorado, USA. This event marks the conclusion of the early production commissioning and optimisation phase at the facility, which is operated by Blue Star Helium Ltd (ASX:BNL), the joint venture partner holding the remaining 50% working interest in the Galactica-Pegasus project. The announcement was initially made by Blue Star Helium as operator and subsequently shared by Helium One Global to inform its AIM shareholders.

The Pinon Canyon Plant has recently achieved significantly improved uptime and longer steady-state operational periods following commissioning completion. The plant now exhibits routine runtime, shut-in, and restart cycles aligned with its anticipated long-term operational profile. This operational stability is notable given the initial Galactica wells were first tied into production in Q4 2025, with additional wells scheduled to come online in 2026 for helium and carbon dioxide extraction. The first helium sale thus represents a pivotal transition from commissioning to commercial revenue generation.

Galactica-Pegasus Joint Venture: Helium One's 50% Interest in Las Animas County

Helium One’s involvement in the Galactica-Pegasus project centers on a 50% working interest in the Las Animas County development, with Blue Star Helium Ltd as operator. The project completed a six-well development drilling campaign in H1 2025, a key element of the broader Galactica-Pegasus strategy. This campaign targeted the Lyons Formation reservoir, consistently encountering helium concentrations up to 3.3% alongside promising carbon dioxide levels.

The development drilling aimed to advance helium and carbon dioxide discoveries toward near-term commercial production. The first helium sale from Pinon Canyon signifies this objective’s practical achievement. Production fill rates have recently increased significantly, coinciding with enhanced plant uptime, culminating in the first filled tube trailer’s departure under an early production spot sales arrangement. The dual-product potential of helium and carbon dioxide adds complexity to the joint venture’s revenue model, though detailed financial data remain undisclosed.

Activation of Three-Month Fixed-Price Offtake Agreement Announced 4 June 2026

A key commercial milestone accompanying the first sale is the activation of a three-month fixed-price offtake agreement publicly announced on 4 June 2026. The tube trailer currently onsite at Pinon Canyon is the first to be filled under this agreement, marking a shift from early spot sales to a structured commercial supply arrangement. Financial terms, including pricing and contracted volumes, were not disclosed.

This fixed-price offtake agreement is significant amid a North American helium market characterized by strong pricing fundamentals. Transitioning from spot sales to fixed-price contracts may provide the joint venture with enhanced revenue visibility and pricing certainty. Investors will likely watch for additional offtake agreements following this initial three-month term, especially as production ramps up via further drilling and plant optimisation in H2 2026.

Blue Star Helium Plans Three New Wells at Pinon Canyon in H2 2026 to Increase Production

Blue Star Helium, the operator, has outlined plans to sustain helium output growth at Galactica-Pegasus. These include potential well deepening to access more reservoir sections and increase flow rates, complementing ongoing debottlenecking of the plant and gathering system. These initiatives form part of the production ramp-up strategy.

Subject to permits, three new wells are planned for drilling and tie-in to the Pinon Canyon Plant during H2 2026. These wells are expected to boost raw gas throughput and helium output, representing a near-term catalyst for production growth. For Helium One shareholders, these wells are the next key operational milestone after the initial helium sale. The exact timing within H2 2026 and associated costs were not disclosed.

Helium One CEO Lorna Blaisse Confirms Initial Revenues from Colorado Joint Venture

Helium One Global CEO Lorna Blaisse stated alongside the 14 July 2026 announcement that the company is now generating its first revenues from the Galactica-Pegasus joint venture. She described the first sale as a significant milestone validating the company’s strategic diversification. Blaisse emphasized this achievement as an important foundation for future growth and expressed anticipation for continued collaboration with Blue Star Helium as development advances.

Graham Jacobs, Finance and Commercial Director, is listed as a company contact, alongside Panmure Liberum Limited, the Nominated Adviser and Broker on AIM. Tavistock serves as the financial public relations adviser. Management commentary focused on operational progress and strategic direction without providing specific financial guidance. Revenue figures from the initial tube trailer sale were not disclosed, and investors seeking further financial details should note that such disclosures have not yet been made.

North American Helium Market Overview: Supply Disruptions and Robust Pricing Support Galactica-Pegasus

The operator’s announcement includes an assessment of the North American helium market, highlighting strong pricing fundamentals driven by sustained demand from high-tech sectors such as semiconductor manufacturing, aerospace, and defence technologies. These industries require ultra-pure helium, creating relatively inelastic demand that supports pricing amid economic uncertainty.

Structural supply disruptions, rationing, and surcharges—especially due to prolonged instability in Middle Eastern supply routes—have increased demand for reliable US-sourced helium. This market dynamic positions the Pinon Canyon Plant and Galactica-Pegasus project favorably compared to less reliable sources. This sector-specific tailwind could support positive pricing as production scales in 2026 and beyond.

Helium One's Tanzania Rukwa Project and Mining Licence: Flagship African Asset

While the 14 July 2026 announcement focuses on the Colorado project, Helium One’s broader portfolio spans two continents. The flagship southern Rukwa Project lies in the southern Rukwa Rift Basin, southwestern Tanzania. Following successful exploration drilling in 2023/24, the project entered appraisal and development stages after discovering helium at Itumbula West-1.

An extended well test in Q3 2024 demonstrated continuous helium flow at 5.5% concentration, considered high-grade globally. Helium One filed a Mining Licence application in September 2024, with the 480 square kilometre licence awarded in July 2025. This provides a legal foundation to advance the Rukwa Project toward commercial development, distinct from the revenue-generating Colorado operations.

Operational Ramp-Up Strategy at Pinon Canyon: Debottlenecking, Well Deepening, and System Enhancements

Beyond drilling new wells, the operator is executing a multi-faceted production growth strategy at Pinon Canyon. This includes debottlenecking the plant and gathering system to increase throughput without major capital expenditure. Gathering system improvements are ongoing and expected to continue as the project matures.

Well deepening to access additional Lyons Formation reservoir sections offers another near-term production lever, enabling greater extraction from existing wells before new drilling. Combined, debottlenecking, well deepening, gathering system refinement, and new well drilling form a layered growth approach aligned with the Galactica-Pegasus development plan. Costs for these initiatives were not disclosed.

Risks for Helium One Global in Colorado and Tanzania Operations

Investors should consider company-specific risks related to Helium One’s interests. The Galactica-Pegasus project is operated by Blue Star Helium, so Helium One’s 50% interest means it does not control operational decisions, including drilling schedules and plant management. Delays in the planned three-well drilling program in H2 2026 due to permitting, contractor availability, or technical issues could impact production growth timing and revenue.

In Tanzania, the Rukwa Project remains in appraisal and development, with commercial production yet to begin. Regulatory, permitting, logistical, and financial challenges in developing a remote Rift Basin helium asset pose long-term risks. Additionally, while the North American helium market currently shows strong pricing fundamentals, helium prices can be volatile, and any easing of Middle East supply disruptions could affect market dynamics. The immediate share price impact of the 14 July 2026 announcement was unclear.

Helium One's Revenue Model and Commercial Production Outlook at Galactica-Pegasus

Helium One’s revenue model for Galactica-Pegasus is based on its 50% working interest share of production revenues from the Pinon Canyon Plant. The initial tube trailer sale under early spot sales marks the transition from development to income generation. The three-month fixed-price offtake agreement activated in July 2026 adds commercial structure to revenue streams.

Revenue is expected to scale with production growth driven by debottlenecking, well deepening, and new drilling. The potential for carbon dioxide production adds a secondary revenue stream, though its commercialisation timeline was not addressed. Key financial metrics for shareholders to monitor include production volumes, tube trailer fill rates, offtake agreement renewals, and future revenue disclosures. Specific revenue figures have not been released.