12.1M shared traded since Wed morning w/ VWAP of $0.626! Big week for First Helium ($HELI.v $FHELF), trading 12.1M shares since Wednesday morning with a VWAP of $0.626 and announcing significant drill test results from the second exploration well at the Worsley Property!
The 4-29 well flowed 467 barrels per day of ~35-degree API light oil from the Leduc Formation, representing an oil cut of 67% over a test period of 48 hours on a minimum drawdown.
$HELI is preparing to bring the 4-29 well into production in early Q2 2022 with the first cash flow expected by the middle of Q2 2022. Given the current commodity pricing of ~WTI US$US to US$90 per barrel and estimated field netbacks of CA$82 to CA$88 per barrel, the well is expected to payout in ~4-6 months.
Notably, this well represents a significant potential increase in asset value for $HELI shareholders. Approximately 20% of Leduc wells along the Worsley Trend are estimated to present as oil wells with 80% as gas wells with a high probability of potential helium content.
https://www.newswire.ca/news-releases/first-helium-announces-4-29-light-oil-discovery-at-worsley-837028649.html