"Helium One Global Ltd Announces Jackson-4 Intermediate Section Drilling Complete"

Helium One Global Ltd, a leading helium explorer, has announced a significant milestone in its Galactica helium project in Las Animas County, Colorado. The company has successfully completed the intermediate section drilling of the Jackson-4 well, marking a crucial step towards the project's development and potential production. This development comes as part of the broader Galactica/Pegasus helium development project, which has shown promising results with high helium concentrations and substantial gas flows.

The Jackson-4 well is part of the Galactica project, which was discovered by Blue Star in 2022. The project has already delivered gas flows ranging from 125 to 412 thousand cubic feet per day (Mcfd) with helium concentrations between 2.0% and 6.1%. The State-16 well, drilled in June 2024, further appraised the discovery, with independent engineering consultants advising that it is capable of producing up to 441 Mcfd, with more stabilised rates constrained for production optimisation, projected to be between 250 Mcfd and 350 Mcfd. The well tested 1.9% helium and logs identified 96+ feet of gas column in the Lyons Sandstone Formation.

The drilling of the Jackson-4 well involves several technical steps, including setting the shallow conductor section, installing and testing BOPs (Blowout Preventers), and drilling through the intermediate hole section. After casing at the base of the intermediate section, the well will target the Lyons Sandstone Formation, with the Target Depth (TD) planned within the Upper Lyons Formation gas reservoir. Once the TD is reached, wireline logging and flow and pressure readings will be conducted to estimate the production potential of the well based on the production model.

The successful completion of the Jackson-4 well is a significant milestone for Helium One Global Ltd, as it aligns with the company's strategic goals of becoming a significant player in the helium market and transitioning from an exploration company to a production company. The progress of the Jackson-4 well has substantial implications for the company's future growth and profitability. The successful completion and tie-in of the Jackson-4 well to production facilities could deliver maiden revenues as soon as the first half of 2025. This aligns with Panmure Liberum analyst Ashley Kelty's view that the company is "on the cusp" of a transformation into a production company. Kelty's 'buy' recommendation and price target of 3.6p, representing substantial upside to the current price on AIM of around 1p, further supports the positive outlook for the company's future growth and profitability.



The production potential of the Jackson-4 well could be influenced by several key factors, including the geological characteristics of the Lyons Sandstone Formation, the drilling and completion processes, and the operational efficiency of the well. The geological characteristics of the formation, such as porosity and permeability, will significantly influence the production potential. The drilling and completion processes, including the intermediate hole section and casing, will minimize the risk of wellbore instability and other drilling-related issues. The operational efficiency of the well, including flow and pressure readings, will provide critical data on the well's performance and help in optimizing production. The production model and optimization, including production forecasts and engineering work, will help in refining the production model and ensuring that the well operates at its optimal capacity. The supporting infrastructure, including the adjoining Red Rocks helium project, will enhance the overall production potential by providing additional resources and expertise.

The successful completion of the Jackson-4 well is a significant milestone for Helium One Global Ltd, as it aligns with the company's strategic goals of becoming a significant player in the helium market and transitioning from an exploration company to a production company. The progress of the Jackson-4 well has substantial implications for the company's future growth and profitability. The successful completion and tie-in of the Jackson-4 well to production facilities could deliver maiden revenues as soon as the first half of 2025. This aligns with Panmure Liberum analyst Ashley Kelty's view that the company is "on the cusp" of a transformation into a production company. Kelty's 'buy' recommendation and price target of 3.6p, representing substantial upside to the current price on AIM of around 1p, further supports the positive outlook for the company's future growth and profitability.



In conclusion, the successful completion of the intermediate section drilling of the Jackson-4 well at the Galactica helium project is a significant milestone for Helium One Global Ltd. The progress of the Jackson-4 well aligns with the company's strategic goals of becoming a significant player in the helium market and transitioning from an exploration company to a production company. The successful completion and tie-in of the Jackson-4 well to production facilities could deliver maiden revenues as soon as the first half of 2025, with substantial implications for the company's future growth and profitability. The key factors influencing the production potential of the Jackson-4 well, including the geological characteristics of the Lyons Sandstone Formation, the drilling and completion processes, and the operational efficiency of the well, will be carefully managed to ensure optimal outcomes. The successful completion of the Jackson-4 well is a significant step towards the company's transformation into a production company, with substantial implications for its future growth and profitability.