Trump in Japan; UnitedHealth raises outlook; gold drops - what’s moving markets
LONDON - Mendell Helium PLC has extended the deadline to exercise its option to acquire M3 Helium Corp. until November 30, 2025, the company announced Tuesday in its annual results statement.
The helium exploration company, which published its audited results for the period ended March 31, 2025, reported that operations at M3 Helium’s Rost 1-26 well in Kansas are "proceeding very satisfactorily" with increasing visible gas shows as water removal progresses.
According to the company’s statement, M3 Helium has secured a lease for a tube trailer to deliver production to its off-taker. While the well undergoes de-watering, the company is advancing the commissioning of pressure swing adsorption (PSA) equipment and gas connections to enable trailer filling at the wellhead.
The company stated that its plans to move from the AQSE Growth Market to the AIM market remain on track and will follow the commencement of production at the Rost well. However, Mendell Helium emphasized there is "no certainty" that the option to acquire M3 Helium will be exercised.
Operations are also continuing at the Jasper well in Nebraska following earlier delays caused by weather and equipment difficulties, according to the statement.
Mendell Helium will hold its annual general meeting on October 30, 2025, in Edinburgh.
The company’s announcement was based on a press release statement that included comments from Nick Tulloch, Chief Executive Officer of Mendell Helium and Chairman of M3 Helium.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.