Helium One Global: Drilling Update at Jackson-31 Boosts Galactica Project's Prospects

Helium One Global Ltd (AIM: HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, has provided an update on the drilling progress at the Jackson-31 well location in Las Animas County, Colorado. The company's partner, Blue Star Helium (ASX: BNL), announced that the drilling rig has been mobilized and is currently in the process of rigging up at the site. Drilling operations are expected to commence shortly after rigging up is completed.

The Jackson-31 well is the initial well in the drilling campaign, which includes three additional approved wells. The success of this well, along with the subsequent wells, could lead to a significant increase in helium reserves and production for Helium One Global Ltd. This, in turn, would positively impact the company's valuation, as helium is a scarce and valuable resource with a supply-constrained market.

The drilling campaign is expected to commence in January 2025, subject to weather conditions. The company will provide further details on the drilling sequence for the remaining three wells after the completion of Jackson-4. The expected outcomes for each well are not explicitly stated in the provided materials, but the company's goal is to successfully drill and complete these wells to further evaluate the helium potential of the Galactica-Pegasus project.



The successful drilling at Jackson-31, along with the subsequent wells in the drilling campaign, has the potential to significantly impact the overall valuation of Helium One Global Ltd by increasing helium reserves, production, and market demand for the company's shares. The company's plans for the additional three approved wells in the drilling campaign are influenced by the progress at Jackson-31, as the drilling sequence will be confirmed after the completion of Jackson-4.

In conclusion, the drilling update at Jackson-31 is a positive development for Helium One Global Ltd, as it brings the company one step closer to increasing its helium reserves and production. The successful completion of this well, along with the subsequent wells in the drilling campaign, could significantly impact the company's valuation and market demand for its shares. Investors should closely monitor the progress of the drilling campaign and the company's future developments in the helium market.