Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) CEO Lorna Blaisse speaks to Thomas Warner after the AIM-listed Tanzanian explorer released an update on drilling at the Tai-3 well.
Blaisse explains the decision to pause drilling and declare TD, saying that the company's primary concern is preserving the integrity of the wellbore, avoiding further complications, and ensuring the safety of the operation.
Blaisse also discusses the promising signs observed so far, particularly in terms of helium shows. The helium readings in the drilling mud have exceeded atmospheric levels, indicating the potential presence of significant helium reserves in the deeper intervals.
While Blaser was cautious about defining success at this stage, she highlights that the next steps involve collecting downhole samples to determine the concentration and grade of helium within the reservoirs.
The wireline program, including the collection of gas samples under reservoir conditions, will provide crucial insights into the potential helium reserves. The company aims to receive early preliminary results in the coming weeks.
Despite the optimism, Blaisse notes that a full declaration of a discovery may take several months. Specialised laboratories outside of Tanzania will be involved in validating the results, with the international logistics process adding to the timeline.
However, Helium One Global is committed to expediting the process and eagerly awaits the outcomes of their exploration.
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