Noble Helium (ASX: NHE) has announced an upgraded estimate of the prospective helium resources at its flagship North Rukwa Project in Tanzania, showing a 28.5% increase in the mean gas volume following a new independent assessment.
The updated assessment was conducted by Netherland, Sewell & Associates, Inc. (NSAI), an independent petroleum engineering firm, and is based on new geological and drilling data collected since 2022, including results from exploration activities carried out in 2024.
The revised estimates show the “low case” prospective helium volume has increased from 19.6 billion cubic feet (BCF) to 21.1 BCF (+7.7%), and the “mean case” has increased from 175.5 BCF to 225.5 BCF (+28.5%). The “high case” estimate rose from 405.7 BCF to 526.1 BCF (+29.7%).
The upgrade follows the company’s revised helium charge model, which confirms the potential presence of one or more gas-forming systems across all reassessed targets in North Rukwa.
Noble Helium Executive Chairman Dennis Donald said the upgraded figures validate the company’s focused development strategy: “This improved resource upgrade is further confirmation of the North Rukwa Basin as a unique and potentially globally significant helium producing system that the Company’s focused strategy will soon begin to unlock.”
The updated data and model are being used to finalise plans for the next drilling campaign. The upcoming program will target the Mbelele and Kinambo prospects, formerly known as Pegere and Ngambwa. Final drill site locations are being confirmed based on geological analysis and the updated charge model.
Noble Helium has a drilling rig (BorExpert) on standby at no cost, ready to be deployed without the need for expensive oil-oriented equipment.
The drilling strategy has been reviewed as part of a six-month company-wide strategic review, which also addressed governance, operational safety, reporting, and cost management.
The North Rukwa Project is one of four projects being developed by Noble Helium in Tanzania, which the company says meets high environmental and governance standards aimed at addressing global helium supply shortages.
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