Helium One Global Ltd ( AIM:HE1 , FRA:9K3 , OTC:HLOGF ) has reported A$460,000 in quarterly helium sales receipts at its Colorado joint venture, and the company guided investors that three additional planned production wells are now expected to drilling start in March, due to permitting delays.
The company owns 50% of the Galactica-Pegasus project, operated by Blue Star Helium, where six tube trailers have now been delivered, with production ramp-up at the Pinon Canyon plant expected to continue into 2027. The receipts cover the whole venture; Helium One's share will be forwarded under the joint operating agreement.
Regulatory approvals for the new wells are expected during the December 2026 quarter, following a longer-than-anticipated permitting process.
The company, meanwhile, noted that Blue Star is also considering deepening existing wells to increase flow and does not currently expect additional helium processing capacity to be needed for gas from the new or deepened wells.
Discussions over carbon dioxide sales continue with multiple parties, offering a potential second revenue stream. Commercial arrangements and further plant modifications must be completed before CO₂ liquefaction and sales can begin.
In Tanzania, Helium One has completed three shallow stratigraphic wells near its Itumbula discovery to improve geological understanding ahead of planning the first cluster of basement development wells. These were not designed for helium testing. The southern Rukwa farm-out process remains ongoing with PVE Consulting.
