Ann: Mereenie Helium Recovery Unit MOU, page-2

Interesting development. On paper it looks great as it is a stepping stone to helium production and it requires basically no capital input from CTP as Twin Bridges will build and fund it. If they can get 60 Mscfd of helium per day that's 7.5 net to CTP (half to TB, quarter of what's left to CTP) which with the helium price around US$200/Mcf is only a max of around A$900k pa revenue, and of course actual profit will be a small fraction of that.

On total 2P gas reserves of 37.5PJ net and 0.2% helium that would be ~75000 Mcf of helium at $200/Mcf which is $15M revenue, half of that goes to TB so $7.5M over the life of the field.

So a fairly insignificant project the the scheme of things but I think the real value will be establishing that the Amadeus is a viable helium-producing basin. And this is only at 0.2% helium, as we know the helium content in the Amadeus can be pushing 50x higher than that.