Is Noble Helium on the Verge of a Significant Helium Discovery?

Noble Helium Limited (NHE), an Australian company, has released preliminary results for its Mbelele-1 well, part of the North Rukwa Helium Project in Tanzania. These findings hint at the potential discovery of a substantial helium system in the region.

Promising Results and Excitement

CEO Justyn Wood expressed his satisfaction with the initial result of the well, which revealed a greater thickness of net reservoirs than initially estimated by NSAI (Netherland, Sewell & Associates, Inc. ) and the company itself. However, further laboratory analysis is required to fully confirm the North Rukwa rift basin as a helium discovery.

Mbelele-1 Exploration and Next Steps

The drilling of the Mbelele-1 well commenced on October 27 and encountered gas at 85mRT, accompanied by noticeable effervescent bubbling in the mud system and a significant increase in helium levels compared to background levels in the mud gas. Wireline logs further confirmed the presence of well-developed reservoirs and seals.

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While a gas sample could not be obtained initially due to the unconsolidated nature of the formation, the presence of free helium was evident in the "gas cap" at the top of the well. Upon reaching Total Depth (TD) and encountering strong helium shows in mud gas, six well-developed reservoir packages within an interval from 135mTVD to 260mTVD were logged. This adds to the encouraging findings.

Globally Significant Helium Potential

The results from Mbelele-1 bolster the company's belief that the North Rukwa rift basin has the potential to become a globally significant primary helium province. The board of Noble Helium is extremely pleased with these initial findings and eagerly anticipates releasing further results from the analysis of Mbelele-1, as well as updates on the drilling progress of Mbelele-2.

Looking Ahead

Noble Helium intends to proceed with drilling Mbelele-2 while awaiting the laboratory analysis that will confirm their helium discovery in the North Rukwa rift basin. By maintaining a disciplined approach to exploration, the company aims to fully evaluate the commercial potential of the Mbelele Basin Fill Complex (BMFC).

Excitement and optimism surround Noble Helium's preliminary findings, which indicate the possibility of a significant helium discovery in Tanzania's North Rukwa Rift Basin. The company's dedication to meticulous analysis and continued exploration will shed more light on the commercial viability of this exciting prospect.

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