Rift Helium (RIFT) has begun mobilising its 3D seismic programme at the Upepo Project in Tanzania as it prepares for an exploration drilling campaign in the first half of 2027.
The helium explorer ended the six months to 30 June 2026 with £6.77 million in cash and no borrowings. Rift raised about £8.1 million through its admission to AIM in April, providing funding for the planned seismic and exploration drilling programmes.
Post period end, Rift received an Environmental Impact Assessment Certificate covering the planned 3D seismic programme and drilling of up to three exploration wells at Upepo.
Mobilisation for the seismic programme is now underway, with data acquisition intended to define and rank priority drilling targets. Meanwhile, well planning, logistics and procurement work are progressing in parallel ahead of the H1 2027 drilling campaign.
Upepo covers 283 square kilometres in Tanzania's Rukwa Basin and is located adjacent to confirmed helium discoveries. The project has gross unrisked prospective helium resources of ~19 billion cubic feet on a P50 basis and ~41 billion cubic feet on a mean basis.
Post period end, the company's Tanzanian subsidiary also entered into a community partnership to establish a Teen Mothers Empowerment Centre in Ivuna Village, near its licence areas.
Rift Helium’s Chief Executive Officer Charles FitzRoy said: "The first half of 2026 was transformational for Rift. Our admission to AIM raised c.£8.1 million and provided the capital to execute our planned exploration programme at Upepo. We ended June with £6.77 million of cash and no borrowings, giving us a strong financial platform for the next phase of the Company's development.
"Since the IPO, our focus has been execution. With the EIA Certificate now secured, mobilisation of our 3D seismic programme has commenced, representing the next major step towards acquiring the data needed to select the strongest drill targets for our exploration campaign in H1 2027."
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Rift is moving quickly from its AIM fundraising into field activity, with seismic mobilisation now underway and drilling preparations advancing in parallel. The upcoming 3D seismic programme should provide the key data needed to refine targets ahead of the planned H1 2027 drilling campaign.