NHE is now days away from drilling its helium well

Our helium Investment Noble Helium (ASX: NHE) is now just days away from drilling its helium well in Tanzania.

NHE already has ~38 semi-trailers full of rig parts & all of its services contractor (SLB’s) equipment on site and is now in the final stages of putting it all together so that drilling can start.

Once everything is put together, tested and ready to go NHE expects to be drilling its Mbelele-1 well which is testing a ~15.7 billion cubic feet prospective resource.

We expect drilling to start within the next few weeks.

Context on NHE’s well:

With Mbelele-1 NHE is drilling the firsts of its basin margin targets.

Those who have been following our NHE coverage since the very beginning will know of the East Africa Rift System (EARS) & ‘String Of Pearls’ story.

The EARS starts in the north next to the Dead Sea and ends in the southern part of East Africa.

Some of Africa’s biggest oil and gas discoveries have been made across these basins.

Nearly 40 exploration wells proved more than 4 billion barrels of oil and gas in two EARS basins - the Albertine Graben in Uganda and South Lokichar Basin in Kenya.

Of the 40 wells drilled ~14 were drilled across Basin Margin targets with a 100% discovery rate - the 14 wells were part of a “string of pearls” system which resulted in a string of discoveries.

With its first well (Mbelele-1) NHE is drilling into the first of its Basin Margin targets inside the EARS.

The image below shows all of NHE’s basin margin targets at its project:

What’s next for NHE?

⚠️The Big One: Drilling ⚠️ 🔄

NHE is now just days away from drilling.

We will release our bull/bear/base case expectations for the drill program on or around the spud date.