Helium grades 20% higher ahead of second well.

On Wednesday our 2021 Catalyst Hunter Pick of The Year Grand Gulf Energy (ASX: GGE) increased the helium grades at its Jesse helium discovery in the USA.

We think this enhances the overall prospectivity of the project, despite GGE not being able to deliver a flow test at the company’s first well (Jesse #1A)

After completing some downhole sampling works, GGE confirmed that its helium grades had increased to 0.96% - an almost 20% increase on the previously reported grades.

GGE also confirmed that the sampling procedures used mean that these grades are the “most representative of reservoir gas”.

At the same time GGE confirmed that planning for its second drilling program was also on schedule for Q4 of this year.

We are now waiting for the company to detail its next drilling program so as to build out our expectations on what’s next for GGE.

In our most recent GGE note, we did a deep dive on GGE’s drilling targets and where we think the company may target next.

To see that note click here and scroll down to the “More on GGE’s future drilling prospects” section.