Grand Gulf Energy Ltd. engages in the exploration and evaluation of oil and gas leases. The company is headquartered in Perth, Western Australia. The Red Helium project is helium exploration project, located in Paradox Basin, Utah, in the prolific Four Corners area of the United States. The project has a gross unrisked P50 prospective resource of approximately 10.9 billion cubic feet (bcf) recoverable helium (independently estimated), with over 29,000 gross acres leased. The firm is the shareholder of Valence Resources LLC, who is the operator of the Red Helium project, with the right to earn up to 85% by drilling three exploration wells. The project comprises approximately 315 kilometers (kms) of 2D seismic has been acquired and reprocessed identifying multiple drill targets. The firm has a working interest (WI) of 39.65% in Desiree Field, 55.5% in D&L Field and 66% in DJ Basin, Colorado, United States of America.
