VVC - Purchase of Ithaca 1-17 Well and 5 Mile Pipeline

Executive Summary

• VVC’s wholly‑owned subsidiary Plateau Helium Corp. (PHC) completed the purchase of the Ithaca 1‑17 well and ~5 miles of associated pipeline in Rush County, Kansas.
• The acquisition gives PHC a 50% operating interest in the well and adds mid‑stream infrastructure to its Central Kansas Uplift (CKU) helium‑rich gas project, lowering development costs and accelerating cash‑flow generation.
• Management highlighted that the new asset provides a “backbone” for faster bring‑online of additional wells, de‑risking the CKU development program.

Key Details

• Asset Purchased: Ithaca 1‑17 producing well + ~5 miles of gas gathering pipeline (Rush County, Kansas).
• Acquisition Timeline: Initiated April 2025; PHC took possession July 2025; transaction closed Oct 9 2025.
• Operating Interest: PHC holds a 50% operating interest in the Ithaca 1‑17 well (as previously disclosed in MD&A releases).
• Strategic Rationale:
• Provides immediate mid‑stream capacity, reducing initial capital outlay for new development.
• Enables earlier gas/helium sales and cash‑flow generation for the CKU project.
• Enhances lease position and creates a “backbone” to bring additional wells online more efficiently.
• Project Context: The CKU Project targets helium‑rich natural gas in stacked reservoirs across Rush and Pawnee Counties, Kansas; acquisition adds to PHC’s leasehold and infrastructure portfolio.
• Management Quote: Bill Kerrigan, President of VVC and PHC – “Building on a producing asset while securing midstream capacity is a practical way to de‑risk our development program in the CKU… The Ithaca 1‑17 well and pipeline give us a backbone to bring wells online more efficiently.”

Notable Quotes

• Bill Kerrigan, President: “The Ithaca 1‑17 well and pipeline give us a backbone to bring wells online more efficiently.”