As our machinery moves to Ramsay 2 to continue our flow testing campaign on the Yorke Peninsula, we thought it an ideal time to give you some extra thoughts about the initial results we showcased from Ramsay 1 this week.

The prospects of an early commercial play for Helium have been boosted by the results. We are aiming to be the company that restarts production here for the first time since 2023.

Not only did we flow, separate, purify and capture Helium, we are comfortable saying it is an exceptionally productive reservoir; there is a path to a proven commercial model already operating internationally; and our Helium purity compares well to other commercial operations.

Our Helium stabilised at 19% purity, air-corrected; we have a dissolved-gas-in-water development model that is already in operation elsewhere; and helium flow rates of up to 24.3 MScf/day is world-leading.

Here’s some context. Our independent Worley report said Helium had a commercial path to us with just two wells. A Quantum Technology pilot plant, as we are considering, can take up to 32MScf/day, so we have headroom heading to Ramsay 2 and 3 testing.

At 32MScf/day in a pilot, we would produce about 8% of the Helium from the last full production facility in this country, the BOC plant near Darwin. Worley’s best case was 10-12 wells, and that would nearly cover all of the Darwin Helium we no longer have as a country. 

For more understanding, our initial results seem to compare favourably with those of a much-hyped project, One Helium’s Southern Rukwa in Tanzania. In a play that has moved from exploration to planning for commercial development, they recorded 16,400 barrels per day of fluid (GH 20,000), Helium purity of 5% sustained (GH 19%), and a Helium flow rate of just .255MScf/day (GH 24.3).

How can you not be hopeful with that comparison?

We are waiting for the independent laboratory results for Ramsay 1, and we will see what Ramsay 2 and 3 produce. We will also test for Hydrogen there for the first time this campaign.

But Helium seems a logical first play, as it has a proven path to commerciality and there is great need right now. Akap Energy recently reported Australian companies are importing about 50% of supply from US sources since Qatar and Russian plants stopped operating due to war damage, with prices spiking 15%.

We invite you to a discussion where we will cover all of this, and answer investor questions, on a webinar next Tuesday at 11am (AEST). Register at this link.

It’s a hugely exciting time, and we’re glad you are a part of it. We also urge you to have a look at the reel we shot at Ramsay 1 recently.