RE: ๐๐ญ๐ฎ๐ฆ๐๐ฎ๐ฅ๐ ๐๐๐ฌ๐ญ-๐ ๐ฐ๐๐ฅ๐ฅ ๐๐ฅ๐จ๐ฐ๐ฌ ๐ก๐๐ฅ๐ข๐ฎ๐ฆ (๐.๐%) ๐ญ๐จ ๐ฌ๐ฎ๐ซ๐๐๐๐15 Feb 2024 14:10
"The Company identified three zones for well testing, and upon completion of each DST, all three zones successfully yielded downhole gas samples. When performing the Basement DST, high concentrations of helium began to flow to surface following reverse circulation and yielded a compositional mix up to 4.7% helium, 1.5% argon, 8% oxygen and 86% nitrogen. These results were evaluated using an onsite Mass Spectrometer and verified from downhole samples by a field PVT laboratory at the well site. A measured helium concentration of 4.7% equates to almost nine thousand times above background levels (5.3ppm).
Two subsequent well tests were carried out across the fault zone and yielded similar results from the downhole samples which were evaluated in the onsite field PVT laboratory. The Company has identified that the frequency of helium increases with depth and is preferentially carried in hot fluids out of the Basement and along fault conduits. As the helium rises through the well bore, the pressure decreases, and it is thought that the helium then comes out of solution and increases in concentration.
This was further collaborated with mudlogging data that showed elevated helium whilst drilling the 8ยฝ" hole section through the Lake Beds Formation and the shallow fault zone. The well produced a continuous measurement of helium gas across the micro-GC and this consistent helium gas measurement was repeated during hole opening operations in preparation for running casing.
Despite having an accurate, independent field PVT laboratory on site, the Company has collected duplicate samples where possible, and these will be sent to a second laboratory for independent verification."