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Highlights
Helium One has executed a purchase agreement for an Electrical Submersible Pump (ESP) and associated equipment.
Two prospecting licences in southern Rukwa have lapsed, with focus shifting to the 480km² Mining Licence area.
The company has initiated voluntary delisting from the OTCQB Venture Market.
Helium One Global (LSE:HE1), a primary helium exploration company in Tanzania with a 50% working interest in the Galactica-Pegasus project in Colorado, has provided an operational update on its southern Rukwa Helium Project.
The company confirmed that it has executed a purchase agreement for an Electrical Submersible Pump (ESP) and associated equipment. The ESP and related infrastructure will be supplied by the CenerTech Group, part of the Chinese National Offshore Oil Company (CNOOC).
During a recent site visit to CenerTech’s manufacturing facility in China, the purchase contract and quality assurance processes were finalised. At the ITW-1 wellsite, civil works have commenced, focused primarily on enabling water disposal during ESP operations. These preparations will allow the company to flow the well at higher rates, providing valuable data on the source of water where helium is in solution and supporting the determination of optimum production rates for maximum helium recovery. ESP operations are scheduled to begin in Q4 2025.
Expiry of Prospecting Licences in Southern Rukwa
Helium One also confirmed that two of its Prospecting Licences (PL 10881 and PL 10882) in southern Rukwa expired on 21 September 2025, marking the end of their second and final renewal terms. The licences have now been relinquished.
The company will concentrate its resources on advancing development within the 480km² Mining Licence area, which remains its primary focus for commercial helium exploration and production in the region.
Beyond southern Rukwa, Helium One continues to review geological prospects across Tanzania for helium potential. Management indicated the company remains open to pursuing new Prospecting Licence applications in the future where attractive opportunities arise.
Voluntary Delisting from OTCQB Venture Market
In addition to its operational and licensing updates, Helium One has notified OTC Markets Group Inc. of its intention to voluntarily delist its ordinary shares from trading on the OTCQB Venture Market.
The decision means the company’s shares will no longer trade on the OTCQB, though its primary listing on London’s AIM market will remain unchanged.
Helium One is progressing operational readiness at its southern Rukwa Helium Project, highlighted by the procurement and planned deployment of an ESP system in Q4 2025. The voluntary delisting from the OTCQB marks a structural change to its trading footprint, while operations in Tanzania remain on track.
