Highlights ππͺ9 Feb 2024 07:36
Itumbula West-1 well has successfully completed all wireline logging and drill stem testing ("DST") operations
Β· The well successfully flowed a high concentration of helium to surface from Basement, at a measured concentration up to 4.7% helium
Β· A measured helium concentration of 4.7% equates to almost nine thousand times above background levels
Β· Hydrogen also flowed to surface during basement testing, at a concentration of 2.2% hydrogen, over thirty-seven thousand times above background levels
Β· Wireline logs, including image logs, demonstrated the location of fault and fracture zones and these were used to locate optimal well test intervals
Β· Downhole fluid samples have been obtained from three separate well test intervals, in the Basement and across the fault zones, all were analysed at surface in an onsite pressure-volume-temperature ("PVT") laboratory and indicated the presence of elevated helium
Β· Duplicate samples collected from all three well test intervals will be sent to a second laboratory for analysis
Β· Hot Basement fluids, measuring >80Β°C, encountered across the fault zone and in the Basement and are consistent with helium and hydrogen prone intervals
Β· Elevated temperatures consistent with a low enthalpy geothermal system
Β· The well is now being cased and suspended and the Company will fully evaluate the well results and focus on advancing this project in the most effective way possible
Β· Non-productive time ("NPT") for the Epiroc Predator 220 drilling rig reduced by over 350% between Tai-3 and Itumbula West-1
Β· Zero Lost Time Injuries ("LTI") across the two well drilling programme of Tai-3 and Itumbula West-1
GLA ππͺ