Grand Gulf ups stake in Red Helium Project to 70%

Grand Gulf now has more skin in the game at the Red Helium project by increasing its working interest from 55% to 70% after meeting earn-in requirements for the first well. It follows the company contributing the first US$1.5mm for the cost of drilling the successful Jesse#1A well in Utah, which had intersected a 203 ft gas column with gas concentrations ranging from 0.44% to 0.65%.

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