In this interview, StockBox spoke to Nick Tulloch, CEO of Mendell Helium (AQSE: MDH), at the Rost well site in Kansas, where he shared updates on operational progress, new opportunities and growing industry interest.
- High Helium Output from Small Zone: The Rost well is producing as much gas as surface systems can handle – from just 1 foot of perforation in a 46-foot helium-bearing zone.
- Local Industry Shows Interest: Other oil and gas companies are reaching out to work with Mendell, impressed by their results.
- Funds Raised to Speed Up: A recent £200k raise will help the company move faster and take advantage of new opportunities.
Nick Tulloch, Chief Executive Officer of Mendell Helium and Chairman of M3 Helium, said: “M3 Helium’s Rost well continues to perform in line with expectations and we have now reached the culmination of the work and planning that has gone into the project with commercial production now underway. Rost is currently generating over US$1,600 of helium per day. This milestone achievement is nevertheless just the beginning as we expect the revenue capabilities of the well to increase in line with rising production and, importantly, on-site purification once the PSA is fully commissioned.
“The validation of the operations now opens the way for further expansion in the Fort Dodge area. M3 Helium has already leased additional land and will now assess suitable locations for further wells.”
