Noble Helium's contract execution with BoreXpert for drilling in Tanzania

Noble Helium Limited (ASX:NHE) has executed a contract to drill shallow appraisal wells in Tanzania with local contractor BoreXpert Limited. The meterage rate includes fixed price mobilisation and de-mobilisation, with the rig set to mobilise to the site and commence drilling before the end of October.

Executive commentary on the drilling contract

Shaun Scott, Managing Director & CEO, stated, 'The drilling contract is both low cost and low risk with an experienced contractor. We are one step closer to testing the potential of the gassy shallow western margin of the North Rukwa basin.'

Summary of the contract execution and outlook

Noble Helium (ASX:NHE) has successfully executed a drilling contract with BoreXpert Limited for shallow appraisal wells in Tanzania. The contract includes a low-cost meterage rate with fixed price mobilisation and de-mobilisation, reducing financial risk for the company. With the rig set to mobilise to the site and commence drilling before the end of October, the appraisal program remains on track to be completed this dry season. The company's Managing Director & CEO, Shaun Scott, expressed confidence in the experienced contractor and highlighted the progress towards testing the potential of the gassy shallow western margin of the North Rukwa basin.