Two wells enough for helium

Our bid to fast-track a commercial helium play in South Australia has taken a significant step forward.

Detailed modelling from Worley Consulting has found that it would take only two wells at our Yorke Peninsula tenement to be commercially viable.

With the Middle East war cutting helium supply and prices spiking, the Worley results show starkly why we have super-charged our efforts.

Worley says that if we scaled up to 10 wells, if would vastly improve the payback period. Sustained flow rates of ~29,000 cubic feet (Mscf) per day per well would equate to 50% of the helium produced at the country’s last production plant in Darwin, which closed in 2023.

All this makes our flow testing campaign, due at this stage to start in June, even more important.

Anticipating positive results, we have already started working with Canadian experts on what a pilot commercial plant would look like.

Quantum Technology Corp, a specialist in modular skid‑mounted helium and hydrogen purification plants, has provided access to the technology that will allow us to transform our raw gas into high pressure pure helium.

A helium commercial pilot plant, courtesy of Quantum Technologies.

And with no domestic production currently, that’s what the country needs for security of supply. It would also be ideal if helium was back on the critical minerals list, smoothing the process for efforts like ours.

Meanwhile, don’t forget our natural hydrogen. We are investigating green methanol, power generation, and fuel cell applications. The upcoming flow testing is just as important for hydrogen.

But current global circumstances and Australia’s needs mean helium is our first shot at producing a return for shareholders.

Full ASX release here.