Workover rig mobilised, flow testing underway.

Investment Memo: GGE 2022

Objective #1: Drilling of first well

Our 2021 Catalyst Hunter Pick of The Year Grand Gulf Energy (ASX: GGE) is now a week or two away from knowing whether or not it had made an entirely new helium discovery in the US.

Today, GGE confirmed that a workover rig had been mobilised to the Jesse #1A well site on the 14th of June and stimulation work had commenced in preparation for the all important flow testing program.

GGE also announced that the rig would “perform several days of flow testing” before final samples for helium concentrations will determine whether or not GGE has in fact made a whole new helium discovery.

In our last note on GGE we detailed our bullish, base and bearish case expectations for the flow test results, to read that note click here.