Ute Mountain Ute

4300 Acre Coyote Wash Lease Agreement in process of being finalized by UMU Tribal Council

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4300 Acre Coyote Wash Lease Agreement in process of being finalized by UMU Tribal Council - - -

Project History

  • Over the last 4 years, Four Corners Helium (FCH) has cultivated a binding working relationship with the Ute Mountain Ute (UMU) Tribe in SW Colorado.

  • In consideration of a six-month exclusive to all available Tribal minerals (~500K acs), FCH provided a proprietary helium assessment to the UMU Energy Committee.

  • The agreement allowed FCH access to all Tribal seismic, plus Right of First Refusal on helium leases within the Tribal boundary.

  • The Coyote Wash Project (Phase I) covers 4,300 acres and includes SEVEN 3D-driven conventional prospects.

  • Phases II & III (20-50K+ acres) are dependent upon results of Phase I.

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Geology:

  • Seal: ~400’ of salt/anhydrite

  • Trap: Conventional 4-way/3-Way structural closures

  • Targets: Mississippian Leadville, Devonian McCracken

  • Stratigraphy: Mixed Dolomites/Limestones

  • Gas Comp: 1.5-5% He;  12-60% CO2;  1-20% methane;  20-50% N2 

Engineering:

  • Normal pressure; vertical well; 1st Loc: Sec 30, 33.5N/19W

  • Drill and Complete: ~ $3.3MM (Incd’s 7” production liner)

  • Total Depth:  ~7500’

  • In discussions with eminent Solar Project for future power supply

Midstream:

  • Mobile IACX helium recovery/nitrogen rejection unit utilizing long haul tube trucks.

  • Membrane bolt-on modules for sustained organic growth

  • Class II disposal well for CO2 injection. Initial research indicates Coyote Wash qualifies for 45Q sequestration tax credits

Resource:

  • 7 well locations (Phase I)

  • 10 MMCFGD, P-50 Flow Rate;  $300-400/MCF anticipated for 2023

  • Helium Reserves:  2 BCF (low case), 3.6 BCF (high case) 

Exclusive Seismic

  • Three 3D’s (36 sq miles)

  • 56 sq mi 2D Swath

  • 1500 miles of 2D

  • Reprocessing by eSeis, Inc