Nick Tulloch visited the M3 Helium site to get familiar with the area and prepare for the option to buy, which was entered into on 27 June 2024, M3 Helium Corp.
(“M3 Helium”), a producer of helium-based in Kansas, which the Company has an option to acquire through the issue of 57,611,552 new ordinary shares in Voyager to M3 Helium’s shareholders (“Option”), has commenced drilling of its sixth vertical well.
The well, named Carter 2, is being drilled at M3 Helium’s Hugoton North Play project and the rig has already been mobilised and delivered to the site. Drilling has commenced and will continue over the US public holiday on 4 July with completion, including casing, during the following week. The M3 Helium team expect thereafter it may take a further week for perforating with the target of completing fracking before 31 July 2024.
The well is located at section 1, township 19 south, range 31 west, Scott County, Kansas and about 1 mile to the west of M3 Helium’s most recently drilled well (Carter 1). Carter 2 is expected to be drilled to a target depth of 2,900 feet and will utilise the Pason mud gas system to measure and report the quality of gases exiting the wellbore.
“On-site Interview: Voyager Life CEO Explores M3 Helium Project’s Potential in Kansas” features an interview with Nick Tullk, the CEO of Voyager Life, discussing the M3 Helium Project in Kansas. Here are the key points from the interview:
- Project Overview: Nick Tullk discusses Voyager Life’s option to purchase the M3 Helium Project, emphasizing the importance of visiting the site to understand the wells and the potential for exercising the purchase option.
- Site Details: The interview takes place at the Smith well, part of the historic Hugoton gas field. Tullk explains that the field has been active for about 90 years, primarily operated by Exxon.
- Experimental Approach: The team, led by geologist Paul Mandel, believes that there is still potential for gas extraction in the area, contrary to Exxon’s earlier assessment. They are conducting experiments to prove the viability of extracting gas, particularly focusing on the transition zone.
- Testing and Results: An experiment was conducted to gauge the well’s pressure and gas potential. The initial results showed promising pressure levels, indicating that there might be significant gas reserves left.
- Next Steps: The next phase involves connecting the Smith and Nilson wells to a nearby pipeline to start gas production and generate revenue. This step is in partnership with Scout, a company previously mentioned in their communications.
- Final Remarks: The interview concludes with Nick Tullk expressing optimism about the project’s potential and the next steps towards market production.
