Helium Discovery

Red Area Prospects

Valence AMI: Four Corners Helium Partnership with Grand Gulf Energy (GGE)

Jesse 1A Discovery

Helium Discovery at Jesse 1A well

  • Sproule Independent Assessment

    • Jesse graduates from a “Prospective” to a “Contingent” Resource under the SPE standard and establishes “discovered” status.

    • 200’ gross gas column and 101’ net pay based on petrophysical analyses.

    • 0.8% Helium Analyses (up to 0.9%)

      • 1.7x higher concentration than expected.

    • Gas sales and processing agreement executed with Paradox Resources.

Gas Concentrations From Jesse 1A Maiden Well

Gas concentrations in % from downhole DST sample chamber. As seen in Oct. 18 2022 GGE announcement.

Fantastic Gas Reservoir Quality at Jesse 1A Well

Electrical borehole image log from Jesse 1A Maiden Well riddled with vuggy porosity. A - upper zone. B - middle zone. C- lower zone. Vugs are dark oval-shaped holes, the storage “containers” for gas. Vertical scale on each image is 10 ft.

Total P50 Helium:

20.8 Billion Cubic Feet (BCF) !

Total P10 prospective helium could be up to 57.6 BCF! 10.9 BCF helium held on currently gross-leased acreage (7.4 BCF net-leased).

Estimates are produced independently by Sproule.

Go to GGE ASX Announcement

Red Prospect

Red has two great geologic-analogs: Doe Canyon helium + CO₂ production and McElmo dome CO₂ production. Expected helium concentrations at Red are 0.5% to 2% helium (Jesse 1A well confirms ~0.9% concentration). FCH and partners have currently leased nearly 30,000 net-acres over known geologic-structures delineated using robust seismic reprocessing and petrophysical analyses. Net revenue interest on all leases at 80% or higher.

Trap, Seal, Helium Source

Trap and seal have been intact for over 315 million years of helium accumulation. Igneous and metamorphic source rocks underlie the area.

Jesse 1A well confirmed helium-effective seals and reservoir-quality vugular porosity.

Red Midstream Infrastructure

Existing pipelines to Lisbon Plant, capable of processing helium to 99.999 % purity, “five nines”. Onsite processing and trucking are also an option. A gas gathering and sales agreement has been executed with Paradox Resources, the owner of the Lisbon Helium Plant.

Photo by Timothy Rynott

 
 

Potential drill location on agricultural land near existing pipelines. Abajo mountains in the distance.