"company has undertaken a review of various development concepts...

"company has undertaken a review of various development concepts for the Serenity CO2 project"

"selected an initial small-scale, low capex development targeting first production of beverage-grade CO2 from H1 2025"

"proposed facility, expected to cost in the order of $1.3 million, is a chilled distillation system producing high-purity liquid CO2"

"will support processing of approximately 500 thousand cubic feet per day of raw gas from an initial two-well development"

"produce between 20 and 25 tons per day of beverage-grade CO2"

"Sammons 315310C well has been drilled, tested and proven"

"currently suspended for tie-in to the production facility"

"samples contained a combined average composition from upper and lower Lyons reservoirs of 98.77% carbon dioxide, 1.15% nitrogen and 0.09% helium"

"lower Lyons reservoir consistently showing higher CO2 levels up to 98.95%"

"gas rates as high as 500 thousand cubic feet per day through a 1.25-inch orifice"

"company has three additional approved drilling locations"

"expected that a second well will be drilled with the existing Sammons well being completed for production"

"on successful development of initial facility, company expects to be able to develop up to 18 further locations"

"continuing to refine its development case for Galactica/Pegasus, which envisages production of both helium and CO2 product streams"

"opportunity presented by processing raw gas volumes through CO2 plant prior to feeding helium-enriched feed gas into helium processing plant"

"goal is production of high-grade helium from Galactica/Pegasus and sustainable production of CO2 from both Serenity and Galactica/Pegasus"

https://oilman.beehiiv.com/p/oilman-jims-letter-july-25-2024

Worth reading