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First Helium Inc V.HELI

Alternate Symbol(s):  FHELF

First Helium Inc. is a Canada-based independent provider of helium gas in North America. The Company is exploring and developing a premier helium project in Alberta, Canada. The Company's Worsley Helium Project in northwestern Alberta is an advanced-stage project covering 53,000 acres with multi-commodity exposure to helium, as well as oil, natural gas liquids (NGLs) and natural gas. Its targets are located on trend and adjacent to past producing helium-enriched natural gas pools and light oil wells.


TSXV:HELI - Post by User

Comment by Wheels54on Nov 19, 2022 5:02pm
165 Views
Post# 35113050

RE:third quarter report will paint a deceiving picture

RE:third quarter report will paint a deceiving pictureThe apparent oil production decline is concerning but we still don't know the true reason. Are the wells naturally declining by that much of a margin or is it a production flow decision while they work with the water well approval... hopefully it's the latter, but time will tell. They did use more cash then planned in the last 6 months but they still have cash on hand. The "operational difficulties" on the last well can't be a regular occurrence. We don't know if it's been testing and if it will produce any commerical return. Perhaps they have tested it and already know. Unfortunately we don't. Regarding their 15-25, if it contains what they say it does, I don't doubt there is/will be interested parties.. If helium Evolution apparently had multiple parties out of Asia bidding on HE they haven't even found yet than I would suspect the 15-25 would be of interest.. The problem is the lack of a reliable spot market. We all know the demand and growing lack of reliable supply but negotiating any kind of offtake right now is like negotiating in a back alley. So it might take longer to get done to ensure both parties benefit. There is a chance they are engaged in negotiations right now and it's just going to take time to find the right agreement. This isn't take the first thing that comes your way type of thing. They have the 1.3 content well and prob don't want to lock it up in a a long term poor as agreement when the value will be increasing. Either way the NR will be interesting to see what they have to say. The quarter was not ideal with the SP decline alone so hopefully they have some positive operational updates that can get this going the right way again. GLTA
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