First Helium Inc. (TSXV:HELI) strives to become a leading North American helium producer by leveraging a low-risk development project supported by its existing discovery well and adjacent undeveloped lands in Alberta. First Helium is working to bring its discovery well into production to establish a strong base of cash flows.
The Company’s flagship Worsley project is located north of Grande Prairie in northern Alberta. The property is situated in the geological WCSB and features a pre-existing well originally drilled by a previous operator targeting natural gas.
First Helium’s Company Highlights
- First Helium is a Canadian exploration and development company specializing in identifying and extracting helium in the province of Alberta. It is working to become a leading North American helium producer by leveraging a low-risk development project supported by its existing discovery well and adjacent undeveloped lands
- The Company’s flagship Worsley Helium project is located north of Grande Prairie, Alberta in the WCSB. Helium content in its discovery well has been tested as high as 1.3 percent based over three individual long-term test periods.
- The Company is working to bring its discovery well into production to establish a strong cash flow base and expand helium production by drilling an additional three wells on adjacent lands as defined by 3D seismic data.
- The NPV of the contingent resource on the Worsley project is estimated to be as high as $15.2 million (at a 10 percent discount rate) or $0.23 per basic share outstanding, based on a Sproule independent engineering report.
- First Helium has secured 125 sections, or 32,000 hectares of highly prospective helium exploration and development land on trend with the discovery well.
- To augment its Worsley Property, First Helium has entered into an agreement with a third-party Canadian company to explore for helium on over 350,000 contiguous hectares of highly prospective land in southern Alberta. This will provide the Company with an excellent opportunity to establish a significant second core area for exploration and development of helium in another region of the WCSB that has been proven to be productive.
- First Helium is listed on the TSX-V under the “HELI” stock symbol.
- The Company’s management team is highly experienced with previous success in oil and gas exploration and production, capital markets and finance, helium project development, construction and project management and mining exploration and development.
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