The Red Helium project is located in Utah, in the prolific proven helium producing Four Corners area of the US. The project has a gross unrisked P50 Prospective Resource of 12.7 bcf recoverable helium (independently estimated).

The maiden pure-play helium exploration well Jesse-1A discovery was made in June 2022 returning 1% helium to surface, exceeding pre-drill expectation.

The Jesse-3 new-drill and the Jesse-1A recompletion operations provide multiple potential pathways for near immediate production and monetisation of a commnerial success, based on the existing gathering system and helium offtake agreement.

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