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), 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.
Jesse-3 Well and Jesse-1A recompletion planned for Q3/Q4 2023, targetting the Leadville and McCracken formations with the ability for near immediate production and monetisation of a commercial success, based on an existing gathering system and binding helium offtake agreement.
Prolific Location
- Helium-Prolific Four Corners area
- Drill Friendly Utah USA, in the heart of the world’s largest helium consumer
- 250,713 acre AMI, > 29,000 acres leased
- Proximal to dedicated infrastructure
- 20 miles to 2 of 8 US helium plants
- Pipeline connected to Lisbon helium plant
- Binding Helium Offtake Agreement
- Strategic Alliance to exploit corporate synergies
- Ability to monetise a commericial well with minimal time and Capex
De-Risked Geology
- Jesse-1A Discovery
- 1% helium concentration
- 200 foot gross gas column, 101 feet of net pay (independently estimated)
- Multiple Independent Prospects
- 2 drill ready locations
- Deeper under-explored potential
- Devonian McCracken Sandstone
- Proven helium producing formation in the Four Corners area
- Known Geology, 315km quality 2D seismic
- Six vintage wells within project area prove all play elements
Large Resource
- Helium Prospective Resource
- Gross P50 unrisked 12.7 bcf
- Red Structural Closure
- 4 – 5 times Doe Canyon
- Doe Canyon Analogue
- 15 miles to East
- Anticipated helium production
- 3 – 5 bcf
- High rate gas wells
- Avg. IP ~20mmcfd
- Average helium grade 0.4%
- = high helium flow rates
Please review our investor presentation for more information