Helium One Global Ltd (LON:HE1) has announced the appointment of Nigel Friend to the Board of Directors as a Non-Executive Director with immediate effect.
Nigel brings significant industry experience having spent more than 35 years working in oil and gas industry and corporate finance. Over his career Nigel has developed extensive expertise in successfully growing companies through a clear focus on cash generation. As CFO and latterly CEO of Orca Energy Nigel was an integral part of the executive management team that developed and operated the Songo Songo gas to power project in Tanzania where his focus on gas monetization led to a significant increase in the market capitalization of the company. Nigel also has extensive experience of leading financial and commercial teams with responsibility for financial reporting, fund raising, contract negotiations, investor and government relations, acquisitions, disposals and restructurings.
Ian Stalker, Helium One Chairman, commented:
“We are delighted to welcome Nigel Friend to the Helium One Board. Nigel is highly regarded in the oil and gas sector having worked as CFO and CEO for a number of successful companies – given his expertise this is a major endorsement for the Company, its strategy and potential. His deep industry experience and knowledge of commercialising significant gas discoveries will be invaluable as Helium One grows through exploration into development of its flagship Rukwa project in Tanzania.”
Nigel Friend commented:
“I am delighted to be joining Helium One at this very significant and exciting time for the Company. Given the current helium market dynamics, Helium One has a project that is potentially globally significant and a strategic asset to resolve a supply constrained market. Helium One’s experienced management team has the capacity to deliver exploration success and I look forward to working with the Board to advance the Rukwa project towards discovery and beyond.”
Helium One was founded in September 2015 to explore, develop, and ultimately, become a producer of low-carbon helium, a critical material that is essential in many modern technologies.
It has identified a globally unique, large-scale, high-grade, primary helium project in Tanzania with the potential to become a strategic asset in resolving a supply-constrained market.
It’s assets are located within the rift basins on the margin of the Tanzanian Craton. The Company has secured 18 Prospecting Licences covering more than 4,512 km² in three distinct project areas: the Rukwa, Balangida and Eyasi projects. These are located near surface seeps with helium concentrations ranging up to 10.6% He by volume.
The Company’s flagship Rukwa Project is located within the Rukwa Rift Basin covering 3,448km2 in south-west Tanzania. The project is considered to be an advanced exploration project with a portfolio of leads and prospects defined by high-resolution gravity gradiometry, and modern and historic 2D seismic. The Rukwa Project has been de-risked by the 2021 drilling campaign, which identified reservoir and seal with multiple prospective intervals from basin to near surface within a working helium system.
SRK Consulting have reported a ‘Best Estimate’ Un-risked Prospective Resource of 138 Bcf (2U/P50) for the Company’s Rukwa Project, meaning that the project has potentially strategic global implications with the ability to significantly resolve helium supply/demand issues.
All Helium One’s licences are held on a 100% equity basis and are in close proximity to the required infrastructure.
