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 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 sidetrack 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.

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

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