RE: Sky high gas prices10 Mar 2026 13:42
The focus here seems to be largely about the arbitration, but in the interims there was a good summary of what’s happening with the other assets. Surely with the recent elevation in gas prices the market should be starting to price in some value for these assets?
“ Update on GNG Partners LLC Lisbon Valley gas processing plant investment and 49% interest in American Helium LLC operated oil and gas with helium leases in Utah and Colorado
Further to the Company's investment in GNG Partners LLC ("GNG") (the owners of the Lisbon valley natural gas and helium processing plant in Utah - as announced in April 2024) and the acquisition of a 49% interest in oil and gas leases operated by American Helium LLC in Utah and Colorado, the Company is pleased to update shareholders that post period under review GNG have signed a non-binding term sheet for an investment from a strategic investor which is expected to provide sufficient funding for GNG to complete the recommissioning and further enable the development of the 60 mmscfpd nameplate Lisbon Valley natural gas and helium processing plant in Utah, which was shut-in at the beginning of the year for maintenance and repair works. Subject to the closing of the proposed financing, the Plant is now expected to be back on line and processing gas from upstream producers by the calendar year end with the helium purification unit expected to be back online and purifying a five "9s" (99.999%) gaseous helium by that time and with the 550 mscfpd helium liquefier now expected to be recommissioned in H1 2026.
As a result of the indicated investment into and subsequent resumption of gas processing operations, Ascent and American Helium are positioned to resume production from their existing well bores which are already connected to the GNG gas gathering transmission system, and which were producing circa 3.2 mmscfpd gross to the JOA partners interests through H2 2024, prior to being shut-in alongside the GNG plant earlier this year. The resumption of gas processing activities by GNG and resumption of gas production from the American Helium operated leases in Utah and Colorado will be a landmark event for the Company and we look forward to updating shareholders on progress through this exciting recommissioning and initial ramp up phase.
Expansion of entry into U.S. Onshore Oil and Natural Gas and Helium Sector
Consistent with the Company's prior move in 2024 into U.S. onshore oil, natural gas and helium markets, the Company announced in May 2025 a fundraising of £1.35 million combine with
- the acquisition of a 49% direct interest in over 100,000 acres of oil and gas leases in Colorado owned and operated by Locin Oil Corporation for a total consideration of US$2.5 million;
- an initial acquisition of a 10% interest in 80,000 acres of leases owned and operated by ARB Energy LLC in Utah for a consideration of US$750,000; and
Can’t copy the remainder here due to lack of space, but there’s lots more in t