The new CPR by GLJ Ltd has assigned 169mmcf of contingent resources (best estimate) for Steveville, which should be converted to 2P reserves once a contract is signed for the gas processing plant and final investment decision is taken shortly. It has also been assigned prospective resource of 1.3bcf of helium in place for Climax Nazare, constrained to only 14sq miles. The Company also intends to obtain reports on its Climax conventional, Ogema and Val Marie wells in due course as additional work and testing data is compiled. GLJ is using a US$450/mcf helium price in its evaluations, which we would expect to be close to what Royal Helium will achieve from its contract with a space launch company.
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