Helium One Global (LON:HE1), the primary helium explorer in Tanzania, has announced that the Company has, alongside Noble Helium (ASX:NHE), entered into a Letter of Intent with Tunisian Drilling Contractor, SOFORI, for the provision of the Drillmec HH102 oil and gas rig for their drilling campaign at Rukwa. This rig share initiative, following on from the co-operation agreement, will enable the Company to save significant costs on mob/demobilisation.
The Company looks forward to progressing this LoI into a definitive contract.
Lorna Blaisse, CEO of Helium One Global, commented:
“We are pleased to have entered into this LoI with SOFORI and Noble Helium. This is an encouraging step towards our proposed spud date of Q3 and is both timely and cost effective. While negotiations continue, with a view to signing a contract as soon as possible, SOFORI have informed us that the rig has no further conflicting commitments going forward. As a result of this, we have already placed orders for long lead items. We look forward to providing further updates as appropriate.”
