Our portfolio

Helium One

BACKGROUND

In March 2017, Solo acquired a 10% interest in Helium One Limited ("Helium One") for a total consideration of £2.55 million (the "Initial Investment"). Solo has also been granted a 90-day call option to increase its investment in Helium One by a further 10%, for an additional investment of £4 million, which would increase its stake to 20%.

HIGHLIGHTS

  •     Initial Investment of £2.55 million for a 10% interest in Helium One, by way of £1.2 million in cash and £1.35 million through issuing new Ordinary Shares
  •     Call option to increase interest in Helium One to 20% by a further investment of £4 million by way of £2 million in cash and £2 million through issuing new Ordinary Shares ("Call Option")
  •     Early entry into the global helium market estimated to be worth US$6 billion annually
  •     Positive macro drivers for helium markets, driven by a depleting supply and simultaneous demand growth, result in strong pricing dynamics
  •     Helium One's Rukwa Project in Tanzania has independently estimated by Netherland, Sewell and Associates Inc. ("NSAI") to contain unrisked most likely prospective recoverable helium volumes close to 100 billion cubic feet ("bcf")
  •     Expands Solo's existing presence in Tanzania which includes gas production from Kiliwani North and a 25% working interest in the Ntorya gas-condensate discovery

TIMELINE

March 2017 Initial Investment of £2.55 million for a 10% interest in Helium One, with a call option to increase interest in Helium One to 20% by a further investment of £4 million by way of £2 million in cash and £2 million through issuing new Ordinary Shares.
   
April 2017 Hybrid Enterprises, the exclusive worldwide reseller of Lockheed Martin’s Hybrid Airships, announced a strategic partnership with Helium One, the explorer, developer and producer of high value bulk liquid helium for the international market. This partnership will explore the use of the LMH-1 Hybrid Airship to transport helium out of Helium One’s deposit sites in Tanzania.