Montana Industrial Gas Project Development
Successfully launched the most significant phase of the Montana Industrial Gas project with workovers, flow testing, and drilling of new wells. The project features a non-hydrocarbon gas stream with a lower environmental footprint.
Infrastructure Advancements
Completion of the initial development program is expected in June, leading to the construction of a processing plant at Kevin Dome, capable of processing approximately 17 million cubic feet of raw gas per day.
Carbon Management Progress
Completed successful injection tests at two disposal wells and expect to sequester approximately 250,000 metric tons of CO2 annually. Drafting an MRV plan for submission to the EPA in July.
Strong Financial Position
No debt outstanding on a $20 million revolving credit facility and a cash position of over $10.5 million.
Shareholder Value Initiatives
Repurchased approximately 832,000 shares, representing roughly 2.5% of the outstanding float, showing confidence in undervaluation.