In the event of a successful well, the GSPA provides a path to monetization of the Company's second pure-play helium well, Jesse-2 which is scheduled for spud Q1 2023. The GPSA expansion continues a relationship with a proven helium refiner and seller with deep helium processing and marketing experience. The key terms include an 80/20 industry standard revenue split in favour of the producer (GGE) as well as standard tariffs for gathering, compression and processing.
The GSPA expansion represents recognition from Paradox of the significant potential of the
Paradox is operator of 570 miles of operated gas gathering lines (220 miles of which is wholly owned) with four compression stations that feed directly to the Lisbon Valley Gas Plant. The advanced
Managing Director Dane Lance Commented: 'The expansion of the offtake agreement with Paradox continues the relationship with a proven helium refiner and seller with deep helium processing and marketing experience. Grand Gulf is well placed to capitalise on one of the world's most critically scare commodities with the ability to quickly monetise a commercial well with minimal time and cost.'
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Managing Director
E: info@grandgulfenergy.com
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Forward Looking Statements:
This release may contain forward-looking statements. These statements relate to the Company's expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like 'anticipate', 'believe', 'intend', 'estimate', 'expect', 'may', 'plan', 'project', 'will', 'should', 'seek' and similar words or expressions containing same. These forward-looking statements reflect the Company's views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the discovery and development of oil, natural gas and helium reserves, cash flows and liquidity, business and financial strategy, budget, projections and operating results, oil and natural gas prices, amount, nature and timing of capital expenditures, including future development costs, availability and terms of capital and general economic and business conditions. Given these uncertainties, no one should place undue reliance on any forward-looking statements attributable to GGE, or any of its affiliates or persons acting on its behalf. Although every effort has been made to ensure this release sets forth a fair and accurate view, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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