Helium One closes WRAP Retail Offer early due to high demand; progresses helium projects in Tanzania and Colorado toward production.
Helium One Global Ltd, a prominent helium exploration company operating in Tanzania and the United States, has announced the early closure of its WRAP Retail Offer due to strong investor demand. The offer, which was made available to retail investors, has now been closed ahead of schedule. The company has stated that an additional announcement will follow shortly, detailing the total proceeds raised and the number of ordinary shares to be issued through this offer.
Company Background and Operations
Helium One Global Ltd is strategically positioned as a key player in the global helium supply chain, with assets across two continents. It holds licenses for two major helium project areas: the southern Rukwa Project in Tanzania and a 50% working interest in the Galactica-Pegasus development project in Colorado, USA. This diversified portfolio places Helium One in a favorable position to address the challenges of a constrained global helium market.
The company's flagship asset, the southern Rukwa Project, is situated within the Rukwa Rift Basin in southwestern Tanzania. Following the success of the 2023–2024 drilling campaign, which led to a confirmed helium discovery at the Itumbula West-1 well, the project has transitioned into the full appraisal and development stage. During an Extended Well Test (EWT) conducted in Q3 2024, helium was observed flowing continually to the surface at a concentration of 5.5%, confirming the project's high potential.
In response to these positive results, Helium One submitted a Mining Licence (ML) application to the Tanzania Mining Commission in September 2024. The 480 square kilometre ML was officially granted in July 2025, paving the way for further development activities and potential commercial helium production from the Tanzanian asset.
Additionally, in the United States, Helium One holds a 50% stake in the Galactica-Pegasus helium development project located in Las Animas County, Colorado. Operated by Blue Star Helium Ltd (ASX: BNL), this project completed a six-well development drilling campaign in the first half of 2025. The programme targeted the Lyons Formation, yielding encouraging results with helium concentrations of up to 3.3% and strong CO2 presence, demonstrating favorable flow characteristics. These wells are set to be connected for initial production by Q4 2025, marking a critical milestone in the project’s commercialization strategy.
Helium One Global Ltd is publicly traded on the London Stock Exchange's AIM market under the ticker HE1, and is also listed on the OTCQB market in the U.S. under the ticker HLOGF.
