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- Grand Gulf Energy (GGE) is poised to spud the Jesse-2 well within its Red Helium project in Aztec, New Mexico
- The Aztec 1099 drilling rig yesterday mobilised to the site, where construction is complete, long lead items secured and the surface conductor installed
- GGE contracted Aztec Well Servicing at the end of January to drill the well, and spudding is scheduled for March 12
- Jesse-2 is part of a gas sales and processing agreement with Paradox Resources and, if successful, provides a path to monetisation for GGE
- Shares in GGE are up 8 per cent and trading at 2.7 cents at 2:52 pm AEDT
Grand Gulf Energy (GGE) is poised to spud the Jesse-2 well within its Red Helium project in Aztec, New Mexico.
The Aztec 1099 drilling rig yesterday mobilised to the site, where construction is complete, long lead items secured and the surface conductor installed.
GGE contracted Aztec Well Servicing at the end of January to complete the well, which is scheduled to spud on March 12.
Aztec is the preferred contractor of GGE’s Drilling Superintendent, Todd Gentles, who previously worked with the same rig and crew at the neighbouring Doe Canyon helium field.
Jesse-2 follows on from the Jesse discovery, which the company said was generally exceeding pre-drill expectations with over 200 feet of gross gas column and 101 feet of net pay.
Both wells are part of a gas sales and processing agreement with Paradox resources, and if Jesse-2 is successful, it provides a path to monetisation for GGE.
Shares in GGE were up 8 per cent and trading at 2.7 cents at 2:52 pm AEDT.
