Helium is good...
Strategy: Binding agreement to acquire 100% of Kessel Resources Pty Ltd (“Kessel”, a Utah-
focused helium company, that provides Grand Gulf with:
• Exposure to the burgeoning helium industry in a known helium producing area - drill-ready
targets and proximal to dedicated infrastructure
• 250,713 acre AMI with over 23,600 acres (private leases/Utah state leases) leased in drill-
friendly Utah (the Red Helium Project) – leasing ongoing with objective of 35,000 acres
• Structurally high to and 8 miles west of Doe Canyon Helium Field and Plant (Air Products Inc –
market cap: US$60B 1 )
• 190 km’s of 2D seismic across the AMI has been acquired and processed – drill targets
established – trap identified is larger than the Doe Canyon Field
• Historic wells with helium concentrations within and proximal to the AMI
• 20 miles south and connected by pipeline to the operational Lisbon Helium Plant
• Current helium pricing is approximately $280/mcf 2
• ESG: Potential for significant 45Q Tax Credit revenue through sequestering of produced CO 2
• High Quality Management Team: Experienced Kessel oil and gas geologist Keith Martens to join the
Board of Grand Gulf assisted by highly experienced partners and US-based operators, Four Corners
Helium.
• Liquidity and Financing: GGE to undertake a capital raising of A$3.3 million to fund the acquisition
and provide working capital to drill and cover transaction costs.
• Board & Shareholder support: The respective boards and major shareholders of GGE and Kessel
have approved the transaction with the deal expected to close in September 2021.
Grand Gulf Energy Ltd (ASX:GGE) (“Grand Gulf” or the “Company”is pleased to announce that it has
entered into a binding agreement to acquire 100% of the issued share capital of Kessel Resources Pty
Ltd ("Kessel"), a privately held Australian company which holds an interest in the Red Helium Project
located in Utah ("the Acquisition").
The successful merger with Kessel will add a significant Helium exploration opportunity to Grand Gulf’s
existing cash flow positive oil and gas portfolio.
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