First Helium Inc V.HELI

Alternate Symbol(s): FHELF

Energy Oil & Gas E&P

First Helium Inc. (First Helium) is a Canada-based helium exploration and development company with properties in Northern and Southern Alberta. The Company is focused on exploring and developing two helium projects in Alberta, Canada. The Worsley Helium Project in northwestern Alberta is an advanced-stage project covering 60,000 acres. It holds First Helium's helium discovery well and two oil wells. The Southern Alberta Helium Fairway Project (Lethbridge) covers over 276,000 acres. Over 60% of First Helium's acreage has three-dimensional (3D) seismic coverage for identifying subsurface structures and closure necessary for trapping helium.

TSXV:HELI - Post by User

First Helium Inc

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Post by culturedpiggy01on Dec 10, 2021 2:56pm

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Post# 34219757

$HELI completes drilling, testing at Worsley Property well

$HELI.v just announced that they have drilled, completed and tested the Company's first exploration well on their Worsley Property. A few highlights from the update:

- preparations are underway in order to put the ell into production, with first cash flow expected by the end of the Q1 2022

- select receipt terminals will get the oil delivered from the well by truck and marketed via third-party marketing agreements

- the cash influx from the well will be used to accelerate the exploration and development of helium gas over 79,000 acres of land along the Worsley Trend and cover ongoing corporate G&A costs

- Based on current pricing for light oil, and an estimated production rate of 400 bbl/d, $HELI.v estimates the payback of the well to be approximately six months.

td, $HELI.v trading at $0.245 with market cap at $16.07 M

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