Noble Helium’s rig is heading to Tanzania

Just a few short weeks…

Our helium Investment, Noble Helium (ASX: NHE) announced today that its rig is now travelling to Tanzania.

This is a big moment for the company, as it looks to drill test what could prove to be a globally significant helium prospect.

The rig belongs to Marriott which NHE selected as its drilling contractor in part because of the company’s experience drilling in East Africa.

The rig is currently in the North Sea heading towards the English Channel:

The Marriott rig’s transit on the ship, MV Bohwa Tsingtao, can be followed via the below link:

TRACK THE SHIP CARRYING NHE’S DRILL RIG HERE

NHE says that it expects the boat to arrive in Tanzania in early September, where it will make its way from the port of Dar Es Salaam inland to NHE’s North Rukwa project.

There, it will test the Mbelele-1 target - which we hope is the first “pearl” in a string of highly prospective “String of Pearls” that all deliver economic helium resources.

In effect, NHE is aiming for a basin opening helium discovery at Mbelele-1 which facilitates a rapid commercialisation of helium from the North Rukwa project.

Helium demand is projected to grow as cutting edge computer chip manufacturing increases (AI chips in particular), along with growing applications in the space industry, new types of nuclear reactors, particle accelerators and the existing large amount of demand from MRI machines.

Learn more about NHE in our latest NHE note

What’s next for NHE?

⚠️The Big One: Drilling ⚠️ 🔄

As before, NHE expects the rig to arrive in early September, make its way to the drill site and spud the well in the second half of September.

We will release our bull/bear/base case expectations for the drill program closer to the spud date.