Grand Gulf Energy Ltd. provided an update on maiden helium exploration well Jesse#1A. The successful Jesse#1A discovery well recorded helium concentrations up to 0.65% and a bottomhole pressure of 2,280psi, consistent with regional virgin pressure modelling and initial reservoir pressures at the nearby Doe Canyon Helium Field. The Company has scheduled a work-over rig, which is expected to be released late August to early September, and plan to flow-test several individual zones within the Jesse#1A wellbore using packer isolation.

The planned drill stem test will determine gas flow rates and potential, obtain representative raw gas samples and ascertain helium concentrations.