High Peak Royalties Ltd (ASX:HPR) chairman Andy Carroll updates Proactive Investors about the company's 1% royalty interest in Santos' permits in the Northern Territory's Amadeus basin, where there is potential for a large gas hydrocarbon discovery.
"This is a very large prospect and very exciting," says Carroll.
He continues, "Santos have identified a salt seal which works great around the world and seals not only hydrocarbons but also helium - the world is running out of helium so helium is worth significantly more than hydrocarbons and has been seen in wells drilled in this area.
"This has the potential for a very large gas hydrocarbon discovery but also for a very large helium resource - our 1% royalty over the whole area is a really great position to be in."
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