Jackson-2 Flow Test Results & Gas Analysis Update

15 May 2025

 Helium One Global Ltd

("Helium One" or "the Company")

Jackson-2 Flow Test Results and Gas Analysis Update   

Helium One Global (AIM: HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA ("the Galactica Project"), provides an update following the Blue Star Helium (ASX: BNL) ("Blue Star") announcement issued today regarding the Galactica Project.

Highlights

§ Jackson-2 flowed naturally during drilling and at Total Depth ("TD")

§ Flow rate since TD has increased to over 250 thousand cubic feet per day ("Mcfd")

§ Projected Stabilised Flow Rates are 300 Mcfd to 400 Mcfd constrained to optimise production, with a maximum potential rate of 500 Mcfd

§ Early samples return helium concentration of up to 1.22% (air-corrected) and 77.77% CO₂

Details

The Jackson-2 well reached TD at 1,232 feet (376m) within the Upper Lyons Formation, encountering the Lyons Sandstone Formation at 1,159 feet (353m). As expected, no water was encountered during drilling of the Lyons Formation with wireline logs confirming the penetrated Lyons Sandstone Formation to be high-quality and gas saturated.

Flow testing since TD has revealed increasing natural flow rates, reaching approximately 250 Mcfd to-date. Strong pressure build-up post-testing indicates high permeability and good reservoir communication. Based on the previous engineering study described below, and the observed flow rates, the projected stabilised flow rates constrained for production optimisation are expected to be between 300 Mcfd to 400 Mcfd, with a maximum of 500 Mcfd.

Initial laboratory analysis of gas samples from Jackson-2 showed a helium concentration up to 1.22% (air-corrected) and 77.77% CO₂ (and 20.61% nitrogen). The well has tested the far southeastern extent of the Galactica project area. Understanding the flow potential and reservoir gas composition in this part of the field is key to defining the helium-CO₂ development going forward.

Galactica/Pegasus Development

The Galactica project forms part of the broader Galactica/Pegasus development, discovered by Blue Star in 2022. This large-scale project offers multiple potential product streams. Blue Star is advancing the Galactica project in joint venture with Helium One Global Ltd.

Blue Star previously released results of an independent engineering analysis of wells in the Galactica-Pegasus project and this analysis established maximum stabilised rates and drawdown for development planning and economic modelling.

The analysis integrated results from the State-16 well with test data from the JXSN-1, JXSN-2, JXSN-3, and JXSN-4 discovery wells and compared it to public information from the adjacent Red Rocks development.

For further information please visit the Company's website: www.helium-one.com   

Contact

Notes to Editors

Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across two distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.

The Rukwa and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. These assets lie near surface seeps with helium concentrations ranging up to 10.4% helium by volume. All Helium One's licences are held on a 100% equity basis.

The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania.  This project is considered to be entering an appraisal stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test, successfully flowed 5.5% helium continually to surface in Q3 2024.

Following the success of the extended well test, the Company flowed significant quantities of helium to surface and filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024. The 480km² ML has now been offered to the Company and was officially accepted in March 2025.

The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL).

Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF.