It is The only microcap helium company generating monthly revenue.
They have resource estimates of $25million($60oil) of oil reserves which are currently being extracted.
They have a resource estimate of $16million of helium(March 2021 price… current value is 2x if not more)
They have natural gas wells drilled and capped(until the gas plant is built)
Helium/natural gas plant expected to begin construction this winter…. Will take approx. 9months to complete. Modular facility.
Pipeline assets owned and built.
Roadways owned and built.
Company has promised no share dilution. The oil revenue will fund company growth.
A quick Recap of First Helium
Helium Off-take agreements pending.
No significant amounts of debt
Current market cap in this bear market - $21million.
Value of just the oil alone is above $20million… plus everything else…
Most microcaps are not producing and are years away from production…. First Helium, to me, is a no-brainer long term buy and hold at these prices… see what the next couple years bring.
First Helium is currently waiting for approval of their water disposal well. The first application was denied. The issues were corrected and the permit application re submitted. It should be approved either before Christmas or early January.
In the meantime First Helium purposefully throttled back their oil output to minimize wastewater disposal costs…. Once the permit is approved oil production will increase again.
At 21c/share these are firesale prices for a producing microcap company with all the proven reserves under their leases.