Announcement • Jul 28
Rift Helium Commences Final Stages of Environmental Impact Assessment and Plans 3D Seismic Acquisition and Two-Well Exploration Drilling Campaign
Rift Helium plc has provided an update on operational progress and the Company's near-term work programme at the Upepo Project in the Rukwa Basin. The Environmental Impact Assessment process is now in its final stages, with completion expected during the Third Quarter 2026. 3D seismic acquisition is planned to commence during the Third Quarter 2026, upon receipt of the EIA certificate, followed by processing and interpretation, with an updated independent resource assessment targeted for the First Quarter 2027. The Company is fully funded for its planned work programme including a 3D seismic survey and a two-well exploration drilling campaign, with the first exploration well planned for the First Half 2027. Field, government, community and supplier engagement has advanced the operational preparations required for the planned 3D seismic campaign. Current dry-season conditions are favourable for mobilisation and acquisition, while the receding Lake Rukwa margin is increasing the extent of ground available for survey coverage. The Company has not identified any material long-lead items expected to delay mobilisation, and prospective suppliers have indicated their readiness to respond once mobilisation can proceed following receipt of the EIA certificate. Rift offers investors exposure to a potentially material primary helium opportunity within a proven basin. The Company holds a substantial 283 km² licence position in Tanzania's Rukwa Basin, which hosts a demonstrated working primary helium system and confirmed helium discoveries. Rift's acreage is supported by CPR-defined prospective resources, including a P50 estimate of approximately 19 Bcf of helium and a mean estimate of approximately 41 Bcf. The Company's strategy is centred on disciplined, probability-led exploration. Rift is applying the geological information and peer learnings generated across the basin and will use high-resolution 3D seismic data to identify, define and rank the structural closures where helium is most likely to accumulate before committing capital to drilling. Rift is fully funded for its planned 3D seismic programme and a two-well exploration drilling campaign, providing shareholders with a clear sequence of value-driving milestones. Following receipt of the EIA certificate, the Company plans to commence 3D seismic acquisition during the Third Quarter 2026, followed by data processing, interpretation and prospect ranking. The results are expected to support an updated independent resource assessment targeted for the First Quarter 2027 and the selection of drilling locations for the two-well campaign, with the first exploration well planned for the First Half 2027. During July, Rift's Chief Operating Officer completed a programme of field, regulatory, government, community and supplier engagement in the Rukwa and Mbeya regions and in Dar es Salaam, as part of the Company's preparations for the planned 3D seismic campaign. National Environmental Management Council completed its site verification visit to the licence area in July 2026, attended by the Company. The subsequent Technical Advisory committee review was also held in July 2026 and concluded successfully. Rift now awaits the formal TAC comments, which will be incorporated into the final EIA report before its submission to NEMC for certification. The Company continues to expect the EIA process to be completed during the Third Quarter 2026. As part of the visit, the Company directly reviewed conditions across the proposed seismic acquisition area. Current dry-season conditions are favourable for mobilisation and acquisition, while the receding Lake Rukwa margin is increasing the extent of ground available for survey coverage. The Company also progressed engagement with regional and ward authorities and with prospective suppliers across logistics, civil works, transportation, camp services, medical support, security, community liaison, insurance and other services required for the seismic campaign. The Company has not identified any material long-lead items expected to delay mobilisation. Suppliers have indicated their readiness to respond to a mobilisation notice, with formal contracting and mobilisation to follow receipt of the EIA certificate. These activities have advanced the operational groundwork required for Rift to move efficiently into 3D seismic acquisition once final environmental approval has been received. The survey will provide the high-resolution subsurface data required to refine structural closures, rank prospects and select drilling locations. The results will also support an updated independent resource assessment targeted for the First Quarter 2027, ahead of the Company's first exploration well planned for the First Half 2027. Milestone Timeline: NEMC site verification completed July 2026; TAC review successfully concluded July 2026; Final EIA process and certification expected during the Third Quarter 2026; 3D seismic acquisition planned for the Third Quarter 2026, following receipt of the EIA certificate; Data processing, interpretation and prospect ranking following seismic acquisition; Updated independent Resource First Quarter 2027; Two-well exploration drilling campaign, first well planned for the First Half 2027.
