RED HELIUM PROJECT
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 10.9 bcf recoverable helium (independently estimated), with over 29,000 acres leased
Maiden pure-play helium exploration well Jesse-1A discovery made in June 2022 returning 1% helium to surface, exceeding pre-drill expectation.
Potentially company-making helium well Jesse-2 planned for late Q4 2022 / early Q1 2022, with the ability for near immediate production and monetisation of a commnerial success, based on the existing gathering system and helium offtake agreement.