Update25 Jun 2025 09:38
Highlights:
📌 Deterministic sum of 2C Gross Helium Contingent Resources for the Itumbula development have been evaluated by Sproule ERCE as 295,797 Mscf and a 3C case of 1,345,591 Mscf Gross Helium Contingent Resources
📌 Additional Prospective Resources within the remainder of the Mining Licence area, excluding resources assigned to the Itumbula discovery, have been evaluated by Sproule ERCE as 709,239 Mscf (2U) and 3,227,556 Mscf (3U) (Unrisked)
📌 Contingent Resources have been assessed by developing type curves and a well schedule for an Early Production System, followed by a further development with a Central Processing Facility
📌 Sproule ERCE have assigned Contingent Resources, sub-classified as 'Development on Hold' to the EPS for the first period of the ML. Further production beyond this point is assigned to the sub-class 'Development Unclarified', as a standard license extension will be required at the end of the initial 10-year term
📌 Based on a phased development; initially with a 5-well and an EPS, which will serve to further appraise the area with a 15-well programme followed by a further phased 46 wells for the full field development