Drilling in the coming weeks - well site now 70% complete.

Well site is now 70% complete, first spud is expected in mid-March.

Our 2021 Catalyst Hunter Pick of the Year Grand Gulf Energy (ASX: GGE) is now weeks away from drilling its Jesse-2 helium well at its US helium project.

The ultimate aim for Jesse-2 will be to see the company produce a commercially viable flow rate that warrants putting GGE’s helium discovery into production.

GGE’s Jesse-2 well is nearby the Doe Canyon helium field (which produces up to 50% of North American helium).

The Doe Canyon helium field is owned by US giant, the NYSE-listed Air Products which has a market cap of US$68BN.

Here is what we know about GGE’s helium project now:

• ✅ A proven helium structure: A >61m gross gas column (with ~31m of independently audited net pay)
• ✅ Commercial helium grades: Helium grades of up to 1% returned to surface (higher than our 0.4% expectation)

For GGE to deliver a commercial helium project, it needs:

• 🔄 Commercially viable flow rate: GGE’s Jesse-2 well is being drilled with this goal in mind.