Current production revenue is now expected to cover the overall corporate G&A but will not be reflected in the September 30, 2024, audited year- end financials. The Company anticipates a gradual rise in sales volumes and revenue, with a current emphasis on well workovers and reducing the overall small percentage of produced water.

During the facility's relocation from Arizona, an AI component was integrated. Currently, the AI is undergoing training through data collection while commercial processing remains ongoing. Data points are essential for the system to learn and function effectively as more wells are brought online. Each well possesses distinct chemical compositions that the plant must adapt to. The plant is nearing autonomy, requiring minimal human intervention for operation.

The geological team continues to review downhole data to determine the most viable wells for increased helium production. They are also examining regional data to enhance the understanding of geological controls and pinpoint locations with the potential for higher helium grades. Certain wells are showing increased levels of hydrogen, prompting a need for further investigation to determine the underlying causes of these occurrences.

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (HU)