RE:RE:$HELI.V Now Up Over 200%! "With strong production and cash flow from the 1-30 well, we currently expect payout of less than 2 months for drilling and completion," said Ed Bereznicki, President & CEO of First Helium."Cash flow from the well will be deployed to help support ongoing helium exploration activities at our Worsley Property and our Southern Alberta Helium Fairway exploration land, which is located near existing third-party helium production and recently announced, promising helium exploration results," added Mr. Bereznicki.
First Helium expects to realize field netbacks of CA$82 to CA$88 per barrel based on a current WTI price of US$85 to US$90 per barrel, which is anticipated to provide strong, ongoing operating cash flow for the Company. The 1-30 well is located near the Company's new 4-29 exploration well, which commenced drilling in mid-February, and approximately 3 kilometers to the southeast of the 15-25 helium well on the core Worsley Property.
Payout in less than 2 months is amazing, revenue and cash flow could be even higher in March. Looking forward to 4-29 drill results.
Did very well with DME, hopefully I can get similiar or better results here. GL