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Ann: Utah Helium Acquisition, page-20

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alexei ii

3,110 Posts.

5924

02/09/21

11:34

Post #: 55776676
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Originally posted by alexei ii: ↑

Interesting times ahead.
1/One of the most encouraging developments is acquisition include high calibre technical team.
2/Its a bit of a reverse takeover though, the subject may end up with close to half the equity (if they succeed in finding the Helium).
3/Look below, the red area on the right is the existing Doe Canyon discovery...3-5 BCF recoverable helium. The red area on the left is the one "acquired" . I think the eastern part (1/3rd) is not within the lease boundary - the lease boundary not indicated on the diagram - which is a bit weird.
4/Again, below, blue lines are seismic - they bought data over the Doe Canyon field as well as over the lease area. Then the "clincher"...Theres 5 wells already drilled in the structure. So there will be a pretty good handle on the subsurface geometry. This is not a wildcat.
5/Out of the 5 wells, 2 were tested and both contained helium. The other two contained gas (they did DSTs), but it was not analysed.

Looks like they're shooting for fish in a barrel. Got me stuffed why Valence couldn't get the money themselves.

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Correction to point 3 above...the red area on the left appears to be 100% in the company's lease.

GGE Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
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