Grand Gulf Energy has confirmed it Jesse#1A maiden pure-play helium well is on schedule.

Part of the Red Helium Project, the Jesse#1A well has been drilled to total depth with gamma ray correlation indicating the Leadville Formation came in structurally high to prognosis.

A full suite of modern logs were run and preliminary petrophysical interpretations indicate a gross gas column of 203 feet, with highly dolomitised reservoir throughout.

Indicating positive news for the Red Helium Project, Grand Gulf Energy also said mud gas returns were characteristically subdued due to operational parameters to prevent formation damage, through quadrupole mass spectroscopy, only a qualitive indicator that entrains significant amounts of atmospheric gases, still detected multiple zones with elevated helium concentrations of up 15 times background levels.

Dane Lance, Managing Director of Grand Gulf Energy, said, “The Jesse#1 initial log results from the primary Leadville Formation target indicating reservoir development and a large gas column analogous to the Doe Canyon helium field are highly encouraging and further confirmation of the technical basis of the Red Helium Project.”

“Similarly delivering the Jesse#1 drill programme safely and on schedule, including the challenging Paradox Salt formations, demonstrates the quality of the drilling team and their operational planning.”

“The programme is moving to the critical completion and testing phase, in what will be an exciting time for the company and its shareholders. Further work is also progressing on the independent prospects and leads in the Red Helium Project, as the company continues to deliver on its planned work programme.”