$HELI.V Now Up Over 200%! Last week couldn’t have been bigger for First Helium (TSXV: HELI). A weekly gain of 57% took the company’s stock to $.62, marking a total 213% gain from December prices.
$HELI.v provided very positive updates regarding production of its 1-30 well, stating the first month of production averaged approximately 430 barrels per day of light oil. This generated CA$280,000 in deliveries for the company in January.
Based on expected February pricing, $HELI.v anticipates it should receive approximated CA$1.2M in late March for February’s production.
This strong production firmly supports the company’s high hopes for its new 4-29 exploration well, which commenced drilling in mid-February.
If the 4-29 well is able to deliver a comparable production rate to the 1-30 well, this 213% gain is going to be just the beginning of a much, much larger trend.
$HELI.v is currently trading at $.62 and is valued at $40.68 million.
https://ceo.ca/@newswire/first-helium-1-30-oil-well-production-update