Ann: Jesse-2 Well Site Nearing Completion for mid-March Spud, page-25

This 10.9bcf of helium prospective resource I think was based on the hope for 0.4% helium concentrations. So as GGE confirmed 1% helium that might explain the article highlighting GGE has the potential to be x5 the scale of Doe Canyon which is 3-5bcf of helium. So GGE could potentially now be targeting a 25bcf helium prospective resource.

To highlight the magnitude of these helium prospective resources:

10bcf would be inground value of:

AUD$7b as gaseous helium at AUD$700/mcf
AUD$29.4b at spot liquid of AUD$2940/mcf

Hence the larger 25bcf would be inground value of:

AUD$17.5b as gaseous helium
AUD$73.5b at spot liquid helium prices







So inground value potentially in the tens of billions if calculated correctly and the agreement to use the nearby Lisbon helium plant with capacity of about 0.6mmcf/d of liquid helium and 0.5mmcf/d gaseous helium:

219,000/mcf liquid helium capacity per year
182,500/mcf gaseous helium capacity per year
Total 401,500/mcf capacity per year

So revenue potential just from the helium in the hundreds of millions per year before even considering the CO2 which could be 70% of the raw gas and could generate about AUD$6/mcf.