MCF Energy plans to drill high-impact gas exploration wells in both Austria and Germany in Q3/Q4 2023. In Germany, the company is focusing on the Reudnitz project, near Berlin, which has significant reserves of methane and helium, and is planning a pilot plant and acquiring 3D seismic in winter 2023/2024. The Reudnitz development is in the planning stages, with a current focus on pilot production from a well initially drilled in 2014. Using proven processes, and cryogenic technology for both helium and nitrogen sequestration, modular development across several segments is forecast, following the initial pilot. The proved phases are: Helium (Approx. 0.2%) and methane (14-20%) associated with high nitrogen content (>80%). Reserve auditor GCA's 2023 report estimated P50 reserves of 118.7 bcf of Methane and 1.06 bcf of Helium. The assets are located south of Poland, which is the only helium producing country in Europe. Central European Petroleum is also looking to explore and develop helium offshore Poland.
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