RE: Share Price27 Nov 2018 09:21
Speaking to your customers/market is very important and said that the cost of DT was too expensive with the cost of Nitrogen being the single most expensive component, therefore a cheaper way of sourcing N2 was explored and found in Kansas, they were prepared to drill a new well there to test the formation but secured permission to re-enter an existing well and safe money too recompleted and successfully find high producing pure N2 and other lead gases of Helium/Argon!
Since finding the N2 the acreage around the area has increased 3 fold from 800 too 2200 acres, and a production plant has been installed there too provide market with the gases!
Helios lower Eagle Formation was tested after a technique and was found to contain methane with the overall depth of formation it was assessed that a number of stages could be perforated and joined to the 2 upper eagle formations for a total flow rate also dosnt include the muddy sands formation that also contains methane and the highly sought after helium!
So work has been done not just nothing, maybe go back to wd in the future after assessment of minerals underground with further research and the permission from various party’s involved, but would take some time!