- Noble Helium (NHE) secures another rig ahead of drilling at its North Rukwa project in Tanzania
- The company locked in the new rig from the UK’s Marriot Drilling Group, ahead of its planned first campaign in Q2 2023
- As such, the company has withdrawn from a non-binding letter of intent (LOI) signed with Sofori for the hire of its drill rig, citing ongoing delays
- The new rig will mobilise to Tanzania later this month, and is expected to be on-site and ready to spud in September
- Noble Helium is up 9.76 per cent and trading at 22.5 cents at 2:40 pm AEST
Noble Helium (NHE) has secured another rig ahead of drilling its North Rukwa project in Tanzania.
The company secured the new rig from the UK’s Marriot Drilling Group, ahead of its planned first campaign in Q2 2023.
As such, the company has withdrawn from a non-binding letter of intent (LOI) signed with Sofori for the hire of its drill rig, due to ongoing delays.
“The ongoing delays with Sofori’s rig forced us to consider other options, and fortunately an identical Drillmec HH102 became available with Marriott, a highly experienced UK based drilling company,” NHE Chief Executive and Co-Founder Justyn Wood said.
“Marriott bring significant expertise in oil and gas exploration, appraisal and development drilling, including recent exploration drilling in Northern Kenya.”
The new rig will mobilise to Tanzania later this month, and is expected to be on-site and ready to spud in September.
“We haven’t lost any time or momentum, the well locations have been finalised, landholder compensation is completed, and SLB (formerly Schlumberger) is also now signed up for integrated third-party services,” Mr Wood added.
“We’re ready to go.”
Noble Helium was up 9.76 per cent and trading at 22.5 cents at 2:40 pm AEST.