Noble Helium Prepares for Drilling at Kinambo Well Sites
NHE (NHE) Share Update November 2024 Wednesday 20th
Noble Helium Announces Rig Mobilization for Shallow Gas Drilling
Noble Helium Limited (ASX:NHE) has announced that BoreXpert is set to mobilize to the Kinambo well sites in Tanzania, following a delay in customs clearance at the Kenya/Tanzania border.
Instant Summary:
- BoreXpert expects customs clearance by the weekend.
- Drilling to commence shortly after mobilization to site.
- All necessary equipment and materials are already on site.
- Access tracks have been upgraded to handle potential rain.
- Noble Helium confident delay won't affect drilling program.
Drilling Preparations
Noble Helium Limited has announced that BoreXpert, the company responsible for drilling operations, is anticipating final customs clearance at the Kenya/Tanzania border. This clearance is expected over the weekend, allowing BoreXpert to mobilize to the Kinambo well sites by the end of next week. Drilling is set to commence shortly thereafter.
Despite the unexpected delay due to the permanent importation of the rig, Noble Helium remains confident that this will not impact the overall timeline for drilling the shallow gas cap targets. The company has ensured that all necessary equipment, including wellheads, drill pipes, drill bits, cement, and chemicals, is already on site.
Site Readiness
In preparation for the drilling operations, access tracks to the Kinambo well sites have been prepared and upgraded. These upgrades are designed to ensure that the site remains accessible even in the event of adverse weather conditions, such as rain.
Noble Helium's Board of Directors has authorized the release of this update to the ASX, underscoring the company's commitment to transparency and timely communication with its investors.
The announcement of the rig mobilization and the readiness of the Kinambo well sites is a positive development for Noble Helium. While the delay in customs clearance was unexpected, the company's proactive measures to ensure all equipment is on site and access tracks are prepared demonstrate strong operational management. This could bolster investor confidence, as the company is on track to commence drilling soon.
Investor Reaction:
Analysts are likely to view this announcement positively, as it indicates that Noble Helium is overcoming logistical challenges and proceeding with its planned drilling operations. The company's confidence in its ability to meet drilling targets despite delays may reassure investors about its operational capabilities.
Conclusion:
Investors should keep an eye on Noble Helium's progress as drilling operations commence at the Kinambo well sites. The company's ability to manage logistical challenges effectively could be a key factor in its future success. Staying informed about these developments will be crucial for making informed investment decisions.