Galactica Project Update

Helium One Global Ltd

26 March 2026

 

 

26 March 2026  

Helium One Global Ltd

("Helium One" or the "Company")

Galactica Project Update

Helium One Global (AIM: HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA ("the Galactica Project"), provides an update following the Blue Star Helium (ASX: BNL) ("Blue Star" or "Operator") announcement issued today regarding the Galactica Project.

Operator Reported Highlights

·      Six wells now tied into the Pinon Canyon facility, including Jackson-2 and Jackson-4, completing Stage One of the Galactica development campaign

·      Facility transitioning to continuous 24/7 operations following completion of automation and system upgrades

·      First helium sales agreed at spot pricing for the initial tube trailer; second trailer expected on-site shortly

·      Strong market tailwinds for advancing discussions for long-term helium and CO₂ offtake

·      CO₂ liquefaction remains on track for H1 2026, with Jackson-27 tie-in timed to coincide with commencement of CO₂ sales

Details Reported by the Operator

The joint venture has successfully completed the installation and testing of wellsite equipment at the Jackson-4 and Jackson-2 wells. Both wells are now available for production and have been integrated into the Pinon Canyon facility gathering system bringing the total number of wells tied to the plant to six comprising Jackson-2, Jackson-4, Jackson-31, Jackson-29, State-9, and State-16.

The facility has been operating during daylight hours through a maintenance and optimisation phase and has intermittently produced gas into the onsite tube trailer during this period.

Following the completion of automation, maintenance and system upgrades, the Operator is transitioning to continuous 24/7 operations.

This transition marks the culmination of Stage One of Blue Star's Galactica development programme and positions the facility for sustained helium production precisely as global supply conditions have tightened materially.

The Operator has agreed sales for the initial tube trailer at spot pricing, with a second trailer expected on-site shortly.

The global helium market continues to face structural supply chain disruptions, rationing, and surcharges particularly due to prolonged instability in Middle Eastern supply routes. This environment has significantly increased the demand for reliable, US-sourced domestic supply.

The Operator is leveraging these market tailwinds to advance its offtake strategy in the following manner:

·      Spot Sales: near-term deliveries are scheduled and set to be spot-priced on a tube trailer load basis

·    Long-term Offtake: negotiations are progressing with multiple parties for long-term helium and CO₂ supply contracts. The strategy remains focused on a balanced mix of spot pricing and long-term contracts to maximize value as the Pinon Canyon Plant ramps up to full capacity.

CO₂ liquefaction remains on schedule for the second half of H1 2026. The tie-in of the Jackson-27 well (with high CO₂ concentration of 98.3%) is timed to coincide with the commencement of CO₂ sales, providing an additional revenue stream for the project.

For further information please visit the Company's website: www.helium-one.com   

Helium One Global Ltd	[phone]
Lorna Blaisse, CEO Graham Jacobs, Finance and Commercial Director
Panmure Liberum Limited (Nominated Adviser and Joint Broker) Scott Mathieson Phoebe Bunce	[phone]
Zeus Capital Limited (Joint Broker) Simon Johnson Louisa Waddell	[phone]
Tavistock (Financial PR) Nick Elwes Saskia Sizen	[phone]

Notes to Editors

Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA. The Company holds helium licenses within two distinct helium project areas, across two continents. With an expanding global footprint, the Company has the potential to become a strategic player in resolving a supply-constrained helium market.

The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania.  This project entering a full appraisal and development stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test ("EWT"), successfully flowed 5.5% helium continually to surface in Q3 2024.

Following the success of the EWT, the Company filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024 and the 480km² ML was formally awarded to the Company in July 2025.

The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL) and successfully completed a six well development drilling campaign in H1 2025. The completion of the development programme is a key component of the broader Galactica-Pegasus development strategy; aimed at progressing the helium and CO₂ discoveries to near-term commercial production.

This programme has seen a systematic approach to developing the extensive Lyons Formation reservoir. The programme has delivered encouraging results, in line with expectations, consistently encountering good helium (up to 3.3% He) and CO₂ concentrations in the target formation and demonstrating promising flow potential. The initial Galactica wells were tied into first gas in Q4 2025, with further wells coming onstream in 2026 for both helium and CO₂ production.

 

END