StockBoxMedia spoke to Nick Tulloch, CEO of Mendell Helium, who confirmed helium production has begun at the Rost well. With raw gas already being captured, the upcoming PSA system will significantly boost margins and production efficiency.
Three Key Takeaways:
- Helium Production Commences – Mendell Helium is now producing at the Rost well, capturing raw gas with 5% helium content.
- PSA System Will Transform Margins – Once operational (expected by end of November), the PSA system will raise helium concentration to ~75%, increasing trailer value from ~$2,400 to ~$36,000.
- Positive Momentum & Insider Confidence – Flow rates are improving steadily, and CEO Nick Tulloch has purchased nearly 9M warrants, reinforcing confidence in the project’s future.
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.”
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
