TSXV:HELI - Post Discussion
Post by
Charts1 on Jan 10, 2023 9:06am
HELI.V SMALL CAP OIL PROIDUCER ABOUT TO GET BIGGER.
"In anticipation of the of the start-up of its water disposal operations, the Company has been producing its oil wells on a restricted basis to minimize operating costs and respond to current regional limitations to accessible disposal alternatives," said Ed Bereznicki, President & CEO of First Helium. "The completion and commissioning of the disposal project at Worsley will allow the Company to optimize production of its oil wells and result in a dramatic reduction of operating costs," added Mr. Bereznicki.
Earlier this year, the Company applied for and successfully received approval from the Alberta Energy Regulator to convert a previously abandoned well bore to a water disposal well. The Company performed the operation in its second quarter and is diligently working through the requisite regulatory process to receive final approval to commence operations and begin realizing the commercial benefits of the project. Management estimates that total operating costs will be reduced by over 50% at the Worsley Oil Battery upon start-up of the disposal operation.
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