Helium well site construction underway; drilling in weeks

This morning, our 2021 Catalyst Hunter Pick of the Year Grand Gulf Energy (ASX:GGE) confirmed that construction works had commenced at the site of its proposed maiden well at its US helium project.

With the works expected to be completed by next Monday and the drill rig to arrive on site by 15 April, GGE is now only weeks away from drilling the maiden (Jesse #1) well.

An offtake agreement was secured just last week (as covered in our latest GGE note) and all infrastructure is already in place.

GGE is now closing in on a milestone moment where it could make the transition from explorer to producer and start generating revenues from its helium project. Of course this is all contingent on the success of the maiden drilling program.

We set the drilling of the first well at its helium project as the primary objective we wanted to see GGE deliver in our 2022 Investment Memo. To see all of these objectives as well as why we continue to hold GGE in our portfolio, read our 2022 GGE Investment Memo here.