Although we didn’t have as many shares in issue in 2016, but we had no patents, East Denver, West Denver, Nitrogen, c02, not as many acres in Montana, the list goes on.... I am excited, just a tad!
· Two of the three stages were opened for production testing while the third stage will be opened later in mid-2018 to observe the productivity impacts of long-term clay hydration
· Gas production rates peaked at equivalent to 216 Mcfpd marking the highest production rates yet achieved in the Helios Two project
· 116,488 acres in Carter, Custer and Fallon counties acquired through federal lease auctions bringing total acreage in Montana to 221,973 acres
· Competent Person Report in January 2017 indicated a "best estimate" NPV10of US$341 million for the natural gas development project alone from a 69,120 acre area and an additional 2.1 billion cubic feet of net attributable helium for this same area (not included in the NPV)
· Although the purpose of this exercise was to examine natural gas production rates in the Eagle Formation only, analyses in January 2017 performed at two independent gas laboratories confirmed the presence of 0.31% to 0.33% helium at Helios Two in the Muddy Formation - similar to the concentrations of helium exploited at the Hugoton Field in Kansas and Texas, the USA's largest helium resource
A little snippet from a recent RNS21 Jul 2018 15:06
Our reputation as pioneers and high-quality operators have provided us with access to the range of opportunities we now hold in our portfolio and we are delighted to be solidifying this through these operations.