White Rhino Activity Update 2022
We are using activity update as opposed to energy update as we are looking at two areas outside of oil and gas production.
The company is looking at licensing geothermal technology to produce electricity on site with this renewable source.
We are also reviewing two helium resource plays as this commodity is in high demand and our skill set to find and produce this gas little different than looking for natural gas.
PROJECTS
United States
We made a joint decision to pass on opportunities we were looking at around the Houston area at the beginning of the year. Although promising, the projects did not have the scalability that we were looking to pursue and grow.
Currently we are reviewing three different types opportunities in the United States: unconventional plays in the Rocky Mountains, licensing a specific geothermal technology to provide zero emission electricity, and two helium projects.
The unconventional plays are lower risk development projects but do not command a multiple rate of return. They will however provide a base level of cash flow for the company.
White Rhino was approach by a company that has a patented geothermal process seeking to see if we would be interested in licensing the technology. Given the push and economic incentives for renewable energy, our team is currently evaluating the viability and scalability of this technology.
Exploring and producing helium is requires many of the same skill sets at exploring and drilling for natural gas. The demand for helium has ballooned over the years as it is used in high tech manufacturing, medical technology and scientific research. An MCF of sells for more than $250 per MCF. White Rhino currently evaluating two helium plays.
MIddle East
White Rhino pursued discussions with its connection in Israel regarding an onshore exploration play that a director pursued in 2015. The current Israeli government is focusing on offshore and on renewable energy. A $10 million USD deposit is required upfront before any research work can begin. We have decided to put this opportunity at the bottom of our priority list.
Southeast Asia
White Rhino has identified an area for exploration and has been waiting for the government to open the area for exploration. The company plans on reviewing the mineral data center which has older seismic and geological studies. Upon review, we will decide on making a bid. However, countless delays is pushing the company to focus on projects which can be put into action on a much quicker timeline.