Grand Gulf Energy detects helium concentrations above primary Leadville formation target in Jesse#1A well
Helium concentrations over 17 times background levels have been detected above the primary target in Jesse#1A.
Continuous mud gas monitoring using quadrupole mass spectroscopy detected helium concentrations above the primary Leadville formation target and whilst not yet at target depth, are indicative of a working helium system, Grand Gulf Energy (ASX:GGE) says.
GGE considers the results as “positive” and says they suggest a significant signal for deeper helium potential.
Six historic wells exclusively targeting hydrocarbons were drilled within the project area, proving trap, seal, reservoir presence, gas charge and the presence of helium.
Several wells tested non-flammable gas in the Leadville Formation, with the only two of the wells analysed for helium confirming helium presence.
The Jesse1#A well is on schedule with the intermediate section drilled to a depth of 5,875 feet, before changing out the mud system to drill though the 1,700 feet of anhydrite (salt seal) formations.
This well is currently drilling ahead to a depth of roughly 8,100 feet, before running 7-inch casing and drilling to test the primary Leadville Formation helium target at an anticipated depth of 8,300 feet.
GGE says the mud gas compositions will be continually monitored whilst drilling progresses.
This article was developed in collaboration with Grand Gulf Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.