Mbelele-1 Spudded: NHE’s Helium Drilling Event Begins

A big day has finally arrived for our helium Investment, Noble Helium (ASX: NHE) which has just spudded its Mbelele-1 well.

NHE is chasing a globally significant helium discovery with this drilling and NHE’s CEO and Co-Founder Justyn Wood characterised it as an opportunity to “secure the future of helium and all the technologies it enables, present and future”.

Below you can see the rig as it spudded at 4am local time in Tanzania:

(Source)

Read our comprehensive note on our Investment journey with NHE which summarises all the key facts about NHE and what we expect from this drill program:

Click here to read our latest NHE note

What’s next for NHE?

🔄Drilling results

We are hoping for an official discovery.

We have thought about what success would look like for NHE and come up with the following expectations for the drill program:

• Bull case (outstanding result) = NHE finds helium and is able to declare an official discovery.
• Base case (Good result) = NHE finds helium but isn't able to confirm an official discovery yet due to technical reasons.
• Bear case (bad result) = NHE finds no working helium system.