- Grand Gulf Energy (GGE) detects helium concentrations up to 37 times above background levels in the Jesse#1A well
- The company has undertaken mud gas monitoring at the well which lies within the company’s Red project in Utah
- This work detected the helium concentrations below the salt seal and above the primary Leadville formation target
- Grand Gulf says the well is on track with the intermediate section drilled to 8070 feet, the seven-inch casing is set at an 8067-feet depth and is currently being cemented
- GGE shares are up 13.5 per cent to trade at 4.2 cents
Grand Gulf Energy (GGE) has detected helium concentrations up to 37 times above background levels in the Jesse#1A well.
The Jesse#1A well lies within the company’s Red helium project in the Paradox Basin of Utah, USA.
After spudding the maiden pure-play helium well in April, Grand Gulf Energy has undertaken mud gas monitoring using quadrupole mass spectroscopy. It’s this work that detected several zones of elevated helium up to 37 times background levels at 386 parts per million helium.
According to the company, the maximum helium concentrations were present in a stratigraphic zone upon exiting the 1700 feet of salt and anhydrite formations (helium seal) above the primary Leadville formation target.
The helium reportedly indicates a working helium system and is considered a “positive signal” for helium potential.
Grand Gulf Energy said the Jesse#1A well is on track with the intermediate section drilled to 8070 feet. The seven-inch casing is set at an 8067-feet depth and is currently being cemented.
The well will now switch to a low weight mud to preserve the deliverability of the formation before drilling tests the Leadville helium target. The company will continue to monitor the mud gas compositions as drilling progresses.
GGE shares were up 13.5 per cent to trade at 4.2 cents at 11:16 am AEST.