Rift Helium (RIFT ) has now moved into the final stages of its environmental impact assessment at the Upepo helium project in Tanzania.
It’s expected that the assessment will be completed during the current quarter.
Once complete, the company will initiate a substantial 3D seismic programme.
That in turn will be followed by by processing and interpretation, with an updated independent resource assessment targeted for the first quarter of 2027.
Rift is fully funded for its planned work programme, including the 3D seismic survey and a two-well exploration drilling campaign, with the first exploration well planned for the first half of 2027.
The current dry-season conditions are favourable for mobilisation and seismic 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.
"Since our IPO in April, we have continued to advance the work programme investors funded us to deliver,” said Charles FitzRoy, chief executive of Rift Helium.
“The EIA is now in its final stages, our field and supplier preparations for 3D seismic have progressed, and current site conditions are favourable for acquisition. The core investment case for Rift remains unchanged. We hold a substantial licence position in a proven basin with a demonstrated working primary helium system, adjacent to confirmed discoveries and supported by an independent CPR identifying prospective potential of meaningful scale. Our disciplined approach is to use high-resolution 3D seismic data to define and rank the structural closures most capable of containing helium before committing capital to drilling. This is intended to improve the quality of our drilling decisions and ensure we deploy shareholder capital efficiently.”
View from Vox
Rift offers investors exposure to a potentially material primary helium opportunity within a proven basin. The company holds a substantial 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 billion cubic feet of helium and a mean estimate of approximately 41 billion cubic feet. So there’s a lot to play for here. So far, the work is unfolding as planned, and the company is moving systematically towards the establishment of what could be a considerable helium resource.