A comprehensive work programme is under way to develop the Bruin Point asset through exploration and potentially into commercial production by the end of 2018, in accordance with guidance from the Independent Qualified Reserve Evaluators Gustavson Associates LLC.
The exploration for helium and other commodities on the Bruin Point leasehold has begun. The completion of Bruin Points Two Phase Seismic Programme was completed in. This consisted of nearly 70-line miles of 2D Seismic data spanning the Company’s leasehold.
Through the Two Phase Seismic Programme interpretation, a subsurface model has been built by Bruin Point’s team. Based on this the Company has delineated its first well location on the Project acreage (or leasehold).
The location of the planned well will be in the South-Western area of the Project, up-dip of the large faulted structure that was identified in Phase One Seismic and intersecting the potential repeat section of the Manning Canyon identified in Phase Two Seismic.
All zones will be tested for resource components but it is likely two zones would be chosen for four horizontal wells. Construction of production facilities will follow, linked easily to adjacent infrastructure and just two miles from established helium processing facilities.
The Company will now engage in the permitting process for the well site, and commence the first steps to establish Federal Units on the Project. (In Utah, Federal exploratory units are mandatory and are formed in order to explore for conventional and/or unconventional resources).