GGE is advancing its Red Helium project with several key developments. The company has chosen an optimised location for the Jesse-3 well, which is situated near the historic Redd-1 well and exhibits a significant structural high on existing seismic data. The selection process involved re-calibration and mapping using 2D seismic data and petrophysical logs. Permitting for Jesse-3 is also underway, with a potential spud date in Q3/Q4 2023. The chosen location aims to minimise risks, enhance reservoir development, and potentially explore the Devonian McCracken Sandstone formation as a secondary target. Both GGE’s initial wells targeted the Jesse field have been disappointing relative to pre-drill expectations..
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