Rift Helium: EIA on the way, seismic next!

Rift Helium’s CEO, Charlie Fitzroy, says the company is weeks away from receiving its Environmental Impact Assessment (EIA) certificate in Tanzania, the final regulatory hurdle before it can launch a 3D seismic survey that it believes will separate it from every other helium explorer in the region. The company raised £8 million in an IPO back in April specifically to fund this seismic work and a two-well drilling program scheduled for the first half of next year.

The EIA is the immediate gate

The EIA process has been the company’s main operational focus for months. Fitzroy reports that Rift’s CEO has been on the ground in Tanzania, meeting with the National Environmental Management Committee (NEMC) and attending the Technical Advisory Committee meeting — both described as the final stages of the process. No issues that could cause delays have been identified. Fitzroy expects the certificate to be issued within the next month, during the current quarter. Once it lands, the company can immediately mobilize its seismic crews. He stresses that Rift is fully funded for all of this work, so there is no financing risk hanging over the timeline.

Why 3D seismic is the differentiator