Voyager Life PLC on Monday said that preparations to bring the Rost 1-26 well, which is owned by M3 Helium Corp, into production are now well advanced.

Voyager Life is a Perth, Scotland-based manufacturer, supplier and retailer of cannabis health and wellness products.

The well, which is located in M3 Helium’s Fort Dodge prospect, has previously been tested by Shamrock Gas Analysis Inc, and was found to contain a gas composition of 5.1% helium.

Sales of helium from that well are expected to start by the end of September.

M3 Helium de-water the well shortly in the expectation that it could further increase the flow rate. Water tanks have been delivered to site in preparation for that exercise.

‘The elevated helium concentrations coupled with the attendant high pressure has quite rightly pushed the Rost well into pole position as M3 Helium’s flagship project. M3 Helium management are optimistic that, when the well comes on production, it will be a significant contributor to its operations,’ said Chief Executive Officer Nick Tulloch.

‘M3 Helium’s focus is on production and sales, and consequently preparations have centred around efficient delivery of produced helium to market. The PSA and onsite compressor will enable M3 Helium to achieve this objective by cost-effectively transporting a concentrated gas mix to nearby processing facilities and, with the forecast production numbers, I am pleased to report there are several options for off-take.’

Shares in Voyager Life last traded at 4.53 pence each on Aquis on September 2.

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