Rift Helium (RIFT ) continues to advance the key regulatory, technical, and operational workstreams required to progress its planned 3D seismic programme in 2026 and to prepare for drilling in the first half of 2027.
The company is focused on the Upepo project in Tanzania's Rukwa Basin. An environmental impact assessment study is ongoing, as is early-stage drill preparation, including well planning.
Rift is fully funded for the current work programmes, after it raised £8.1 million in conjunction with its the April IPO.
"Since admission to AIM, our focus has been on moving quickly and methodically from funding into execution,” said Charles FitzRoy, chief executive of Rift Helium.
“The processes underway across permitting, seismic planning, technical evaluation, stakeholder engagement and drilling preparation are all part of a clear work programme designed to advance the Upepo project towards drilling in the first half of 2027. Our objective is simple: to use the funding secured at IPO to progress a disciplined exploration programme in one of the world's proven primary helium basins. The next 12 months are expected to include several important catalysts for Rift, including completion of the EIA process, acquisition of 3D seismic, seismic interpretation, drill target selection and preparation for drilling.”
View from Vox
Ahead of drilling, the big news will be the seismic survey. Preparation and planning for the seismic programme is already well underway, and should provide investors with much new information to chew on in the coming months. Rukwa is a well-known and highly prospective area for resources companies in general, and is relatively straightforward to operate in. In that context, Rift remains in close touch with the relevant Tanzanian authorities, and is continuing its stakeholder efforts. As far as the macroeconomic picture goes, the outlook for helium is still very robust, given all the supply chain shocks that have occurred over the past few months. So, with plenty of newsflow on the way, Rift looks well positioned to attract increasing amounts of attention as work on Upepo gains momentum.