Helium One Global Drills Jackson-31 Well to Total Depth: A Milestone in the Race for Helium

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 announced that the Jackson-31 well has been drilled to its total depth. This significant milestone marks a crucial step in the company's quest to tap into the region's helium reserves and contribute to the global helium supply.

The Jackson-31 well, located in Las Animas County, Colorado, is part of the Galactica-Pegasus project, which has shown promising helium potential in previous drilling campaigns. The well was drilled to a total depth of approximately 10,000 feet, with the intermediate section being drilled in late February 2025. This progress indicates that the drilling campaign is proceeding as planned, with the company on track to meet its project timeline and budget.



The drilling of the Jackson-31 well is a critical step in the Galactica-Pegasus project, which aims to extract and process helium from the region's gas reservoirs. The project is expected to commence first gas production in the first half of 2025, with the Pinon Canyon processing plant set to commence operations. This plant will play a crucial role in processing the helium extracted from the Jackson-31 well and other wells in the project.



The global helium market is experiencing significant transformation, with shifting supply dynamics and evolving demand patterns. The market is dominated by the semiconductor industry, which accounts for approximately 24% of global demand. Supply constraints continue to shape market dynamics, with major producing regions facing various challenges. Current global production capacity stands at approximately 175 million cubic meters annually, with demand closely matching supply. This tight market balance has maintained upward pressure on prices, with some regions experiencing significant volatility during supply disruptions.

The drilling of the Jackson-31 well is a positive development for Helium One Global, as it brings the company one step closer to contributing to the global helium supply. The company's strategic investment in the Galactica-Pegasus project, combined with its exploration efforts in Tanzania, positions it well to capitalize on the growing demand for helium in various industries, particularly the semiconductor sector.

In conclusion, the drilling of the Jackson-31 well to its total depth is a significant milestone for Helium One Global and the broader helium market. As the company continues to develop the Galactica-Pegasus project and explore its Tanzanian assets, investors should keep a close eye on its progress, as it has the potential to play a crucial role in meeting the growing demand for helium in the global market.