AIM-listed Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, has announced the Company’s audited results for the year ended 30 June 2026.
Summary
Southern Rukwa Project, Tanzania:
- Successfully completed Electrical Submersible Pump ("ESP") testing at ITW-1
- Produced over the equivalent of 250,000 barrels ("bbl") of water during a 20-day testing programme, with flow rates of up to an equivalent of 16,400 barrels per day ("bpd") - representing a six-fold increase compared with natural flow rates achieved during the 2024 Extended Well Test ("EWT")
- Achieved sustained helium concentrations of 5.4% (air corrected) at surface, with a maximum concentration of 9.2% (air corrected)
- Formally awarded a 480 km2 Mining Licence (“ML”) in southern Rukwa in July 2025, representing Tanzania’s first helium mining licence and largest mining licence awarded in the country
- The Company, and the Government of Tanzania executed the Framework Agreement and the Shareholders’ Agreement for the joint venture company, Songwe Helium Ltd, in which Helium One Global Ltd holds an 83% interest
- Commenced a formal farm-out process in May 2026 to identify and select a suitable industry partner for the southern Rukwa Helium Project and discussions with a number of parties ongoing.
Galactica-Pegasus Project, United States:
- Commissioned the Piñon Canyon processing facility, with six development wells drilled and tied in, and achieved first gas in December 2025
- In June 2026, Blue Star Helium (“Blue Star” or the “Operator”) entered into an initial 3-month helium purchase and sales agreement covering all helium produced at the Piñon Canyon Plant
Corporate:
- Clive Carver appointed Non-Executive Chairman in April 2026
- Appointment of Nishant Dighe as a Non-Executive Director and Sarah Cope as an Executive Director
- The Company raised a total of £13.8 million during the year
- Total comprehensive loss attributable to the equity holders of the Company of US$3,413,295, a decrease compared with US$4,857,406 for the year ended 30 June 2025
- The Group’s net assets as at 30 June 2026 were US$67,919,638, compared with US$53,202,847 at 30 June 2025
- At 30 June 2026, the Group’s cash position was US$6,552,494 (30 June 2025: US$3,152,755).
Post Balance Sheet Events
First helium sales achieved in July 2026 in the US
- At the end of August, the helium purchase and sales agreement was extended to 31 March 2027
- Raised approximately £3 million in October 2026 to cover the expected operating costs for the remainder of the current financial year
Outlook
- The Operator plans to deepen 3 existing wells at Galactica during Q4 2026, followed by a further 9 wells in 2027, subject to permission being granted
- Blue Star Helium continues to advance commercial discussions on CO2 co-production and liquefaction, with a focus on expanding gas processing capacity and supporting revenue growth through 2026 and into 2027
- At southern Rukwa, the Company is evaluating new development targets for further drilling and testing, with activity likely to focus on primary fractured Basement targets at additional locations across the 480 km2 Mining Licence area
- The Company looks forward to the outcome of the formal farm-out process
- The Company-owned Epiroc 220 drilling rig remains warm stacked in the southern Rukwa region and operationally ready to support future activity
- Helium’s role in high-technology applications continues to underpin its strategic importance, in a market influenced by demand, supply and geopolitical developments
Clive Carver, Chairman of Helium One, commented:
'This has been an incredibly busy period for the Company which has seen us deliver some very significant milestones as well as undertaking some incredibly important initiatives.
Helium One have transitioned from an exploration company into a company with production in the US and a world class development project in Tanzania where the team have proved up the potential of the project and which we are now looking to further progress through bringing in a suitable industry partner.
Helium remains a commodity in demand and we are advancing our projects to be a key player in delivering this in the future. I would like to take this opportunity to thank all our stakeholders and shareholders for their continued support during the year and going forward in what we believe will be another important year for the Company as we continue to deliver our strategy and build on what we have achieved in the last year.”
Lorna Blaisse, CEO, commented:
'We have made significant progress across both projects, advancing our strategy to become a helium producer with a diversified portfolio.
In the US, we worked with Blue Star to commission the Piñon Canyon facility, achieve first gas and commence helium sales. In Tanzania, successful ESP testing at southern Rukwa demonstrated the project’s potential. We also secured Tanzania’s first helium mining licence and the country’s largest mining licence, executed a framework agreement with the Tanzanian Government for Songwe Helium Ltd., and launched a formal farm-out process.
These milestones provide a strong foundation for the next phase of development. Our focus remains on progressing both projects and realising their potential to help meet the increasing global demand for helium.
I would also like to take this opportunity to thank our team, partners, local communities, landowners and Government stakeholders for their contribution, and our shareholders for their continued support. I look forward to providing further updates as we advance our projects.'
Source: Helium One Global
