HELI.v begins drilling new well at Worsley! This week, First Helium (TSXV: HELI) announced the commencement of drilling at its 14-23 helium target at the Worsley Project in Northern Alberta.
Targeting multiple helium-bearing formations, successful drilling of the 14-23 well will potentially add incremental contingent resource volumes to those of the successful 15-25 helium discovery well, which has been independently evaluated.
As with the HELI’s 15-25 helium discovery well, the company intends to produce and market any potential associated surplus hydrocarbon volumes included in future discovery wells to capitalize on the current strong outlook for natural gas and liquids pricing, and maximize cash flow in support of further growth.
First Helium's 79,000 acres along the Worsley Trend is highly prospective for both helium and natural gas. Historical exploration and development drilling on the trend has encountered rich helium concentrations ranging from 0.5% to 1.9% in a number of formations.
HELI.v is retesting historic support at $.475 as SP approaches the pinch of a descending triangle. Shares are currently trading at $.47 and the company is valued at $35.19 million.
https://ceo.ca/@newswire/first-helium-commences-drilling-14-23-helium-target