"4-29" Well Brought On-Stream In April Combined April Net Revenue of Approximately $1.4 Million Expected From 1-30 and 4-29 Wells
CALGARY, AB, May 4, 2022 /CNW/ - First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC), today announced that it brought the 4-29 light oil well into production on April 8th, 2022. During the month, the Company produced the well at an average daily rate of 144 barrels per day ('bbl/d") of 36 degree light oil, with an average oil cut of 50%. On a combined basis, it is expected that the 1-30 and 4-29 wells will provide net revenue to the Company of approximately $1.4 million for the month of April, which will be received in late May.