Workover rig scheduled to begin flow testing on 29 August
This morning our 2021 Catalyst Hunter Pick of The Year Grand Gulf Energy (ASX: GGE) announced that it is now a week away from flow testing its Jesse #1A well.
GGE confirmed that the workover rig is scheduled to arrive on site on the 29th of August 2022 with the aim of flow testing the Jesse #1A well.
The workover rig will follow up GGE’s discovery with its first pure play helium well (Jesse #1A) where GGE returned helium grades as high as 0.65%.
Importantly, the data GGE gathered showed that GGE’s well hit similar bottom hole pressures to the analogous Doe Canyon helium field, which is currently producing right next to GGE.
With the flow test GGE will be looking to complete the final part of the process to take GGE from helium explorer to producer.
- A proven helium structure that can be followed up with additional drilling. ✅
- Commercially viable helium grades above our 0.4% expectation (GGE’s grades were between 0.44 and 0.65%). ✅
- Commercially viable flow rate 🔄- (Now scheduled to begin on 29 August 2022)
In a previous GGE note we detailed our bullish, base and bearish case expectations for the flow test results. To read that note click here.
