(Source) Our key takeaway from today’s announcement was that GGE managed to get that flow rate, despite the lower reservoir only being “partially” isolated. As a result, GGE still had water flowing through the well, which would have impacted gas flow rates. The positive is that the water flow rates were declining towards the end of the 60-hour flow test, reducing from 2,000 barrels to 1,200 barrels per day. What that tells us is that if GGE can fully isolate that reservoir and run its stimulation program, the probability of getting a much higher flow rate (than the one announced today) is relatively high. That’s where GGE’s planned sidetrack well comes into play. GGE’s plan is to drill a sidetrack to Jesse-1A in early 2024 and run the full isolation/stimulation program in a well where hole conditions are likely to be a lot better. With good results in and a bit more work to do, we think it's a good time for GGE to provide a new source of helium in the USA… Grand Gulf Energy ASX: GGE This was GGE’s third attempt at this project, and the key now for GGE is to show its well designs can be replicated successfully. The first attempt delivered a discovery, the second well delivered commercial helium concentrations, and now the third - a re-entry of the first well has delivered a flow rate. Over the last year, GGE has been working with expert consultants to figure out how best to separate the helium bearing reservoirs it has from water that also lies in the reservoirs. This well re-entry program produced a peak flow rate of 0.95mmcfd at grades trending upwards from .78% helium - numbers which would be commercially viable - and largely better than the USA’s largest helium field at Doe Canyon next door. Since we first Invested, GGE has now accomplished the following: ·✅Helium Discovery at Jesse 1A - GGE’s first well hit a 61m gross gas column (net pay of ~31m), returned 1% helium to surface, which came from a productive and strongly pressurised reservoir. ·✅ GGE extended its discovery - Jesse-2 was drilled ~1.5 miles away from Jesse-1A, extending GGE’s helium discovery. ·✅ Helium grades up to 0.9%. This is a grade that is considered commercial AND above our 0.4% base case expectations. The result was also consistent with Jesse-1A which delivered ~1% helium grades. ·✅ Flow rate - Today GGE today said that it had flow a peak flow rate of a peak rate of 0.95mmcfd over the 60-hour flow test. While we note that it was a PEAK flow rate of 0.95mmcfd, today’s announcement does suggest GGE could improve on that flow rate with an isolation/stimulation program in a sidetrack well. If that is possible, then GGE has a good basis from which it can transition from explorer to producer. i.e generate actual revenues. Here’s how GGE achieves that… Next year, we’ll be looking for GGE to outline more details on how it intends to become a producer in subsequent announcements. This should hopefully be relatively straightforward given GGE’s proximity to a helium plant and existing pipelines in the neighbourhood. First up, GGE will commence a Jesse-1A sidetrack operation, which we hope delivers more consistent helium flow results. A sidetrack well is a secondary wellbore away from an original wellbore. GGE will need to fully isolate the helium from the water and stimulate - today’s GGE announcement notes that it was able to partially isolate the water. Today’s results see GGE hit our BASE case for the well re-entry program, which were as follows: | 
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