Noble Helium notes drill rig caught up at Kenya-Tanzania border

The Market Herald
2024-11-21

Noble Helium (ASX:NHE) has confirmed its soon-to-be-permanently imported drill rig is caught up in customs at the Kenyan border.

Trying to drill Western Rukwa for natural helium deposits underground – much of the world’s helium is, perhaps surprising to some, effectively mined – Noble Helium will now need to wait a little longer after inking a contract for a rig in September.

Now, the rig is caught up in paperwork at the border with Kenya.

The company providing, called BoreXpert, expects final clearance at the Kenya-Tanzania border to occur over the coming weekend.

Then, it should be on-site at Rukwa by the end of next week.

Noble stated chemicals, drill pipe, wellheads and cement are all already on-site – simply the rig itself must be delivered for those parts to make a sum total operation.

“While disappointed with this significant unexpected delay as a result of the permanent importation of the rig, the Company is confident that this delay will not create any additional issues in completing the program to drill potentially significant shallow gas cap targets,” Noble wrote on Thursday.

NHE last traded at 5.5cps.

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