Insightful Trader Tips
  • Finances
  • World News
  • Investing
  • Stock
Investing

First Helium Secures Rig to Drill Two Wells Targeting Leduc Light Oil at Worsley

by January 15, 2025
January 15, 2025

First Helium Inc. (‘First Helium’ or the ‘Company’) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has engaged the services of a drilling contractor to drill its 7-15 high- impact exploration location, along with its proven undeveloped (‘PUD’) 7-30 oil location 1,2 . The contractor’s drilling rig (the ‘Rig’) is currently working for another operator in the region. The Company expects the Rig to arrive at the 7-30 location and begin drilling within two weeks, subject to weather and any unforeseen delays. Following drilling of the 7-30 well, the Rig will be released and mobilized directly to the 7-15 location to begin drilling in early February, barring any unforeseen delays. The Company will continue to provide regular updates on these field activities.

‘We are very excited to be moving ahead with the drilling of our 7-30 PUD well along with our high impact Leduc anomaly, 7-15, which on seismic is approximately 5X the areal extent of our successful 1-30 light oil pool discovery. Securing a rig that has been active in the region and drilling the 7-30 and 7-15 locations ‘back-to-back’ will help minimize mobilization costs and ensure a smooth drilling operation,’ said Ed Bereznicki, President & CEO of First Helium. ‘With success, the combined oil potential from these two operations would provide immediate cash flow and meaningful near-term value for our shareholders,’ added Mr. Bereznicki.

Work has begun at both the 7-30 and 7-15 vertical well locations (see Figure 1) to prepare the respective leases for drilling. The 7-15 location is located approximately 6 kilometers southeast of the 7-30 location which will help facilitate an efficient move between drilling locations. Pending results, necessary preparations are being made to complete, equip and tie-in the two wells prior to spring break up in Alberta (a period from mid/late March through May when Provincial highway restrictions limit heavy equipment movement).

Figure 1:
Worsley Project Inventory

Notes:
(1)   Prepared by Sproule Associates Limited (‘Sproule’), independent qualified reserves evaluator, in accordance with COGE Handbook.
(2)   Assigned 196,700 Barrels of Gross Proved plus Probable Undeveloped reserves, per Sproule, Evaluation of the P&NG Reserves of First Helium Inc. in the Beaton Area of Alberta (as of March 31, 2023). See First Helium’s SEDAR+ profile at www.sedarplus.ca .

ABOUT First Helium

Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.

First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.

Building on its successful 15-25 helium discovery well, and 1-30 and 4-29 oil wells at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium’s ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company’s Worsley land base.

For more information about the Company, please visit www.firsthelium.com .

ON BEHALF OF THE BOARD OF DIRECTORS

Edward J. Bereznicki
President, CEO and Director

CONTACT INFORMATION

First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate’, ‘plan’, ‘continue’, ‘expect’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘predict’, ‘potential’ and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

SOURCE: First Helium Inc.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5de39ea5-a8a0-454f-bd49-48cb50e82221

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com
previous post
Mawson Finland Begins 2025 Drill Program, Mobilizing Multiple Drill Rigs at Rajapalot
next post
Charbone Hydrogene annonce la date d’interconnexion au reseau qui est desormais confirmee avec Hydro-Quebec pour debuter la production d’hydrogene vert

Related Posts

Multiple New Multi-Commodity Targets

May 12, 2025

Acceleration of RAD204 Phase 1 dose escalation trial

May 12, 2025

Excellent Gold Intersections Verified at Kiimala Project

May 11, 2025

Tech 5: OpenAI Restructures, Apple Pursues AI Search,...

May 11, 2025

Crypto Market Recap: Bitcoin Breaks US$100,000, Coinbase Makes...

May 11, 2025

Radiopharm Theranostics Accelerates 177Lu-RAD204 Phase 1 Dose Escalation Clinical...

May 12, 2025

Finlay Minerals Appoints an Executive Chairman, President &...

May 12, 2025

Nuvau Minerals Completes High Resolution Drone MAG Survey

May 12, 2025

Falco Files Requested Documentation for the Horne 5 Project’s...

May 12, 2025

Triumph Gold Discovers a New Silver and Gold...

May 12, 2025

Multiple New Multi-Commodity Targets

May 12, 2025

Acceleration of RAD204 Phase 1 dose escalation trial

May 12, 2025

Excellent Gold Intersections Verified at Kiimala Project

May 11, 2025

Tech 5: OpenAI Restructures, Apple Pursues AI Search,...

May 11, 2025

Crypto Market Recap: Bitcoin Breaks US$100,000, Coinbase Makes...

May 11, 2025

Radiopharm Theranostics Accelerates 177Lu-RAD204 Phase 1 Dose Escalation Clinical...

May 12, 2025

Finlay Minerals Appoints an Executive Chairman, President &...

May 12, 2025

Nuvau Minerals Completes High Resolution Drone MAG Survey

May 12, 2025

Falco Files Requested Documentation for the Horne 5 Project’s...

May 12, 2025

Triumph Gold Discovers a New Silver and Gold...

May 12, 2025

Investing

  • Radiopharm Theranostics Accelerates 177Lu-RAD204 Phase 1 Dose Escalation Clinical Trial Based on Positive Recommendation from Data Safety and Monitoring Committee

    May 12, 2025
  • Finlay Minerals Appoints an Executive Chairman, President & CEO, and Vice President, Corporate Development

    May 12, 2025
  • Nuvau Minerals Completes High Resolution Drone MAG Survey

    May 12, 2025
  • Falco Files Requested Documentation for the Horne 5 Project’s Environmental Authorization Process

    May 12, 2025
  • Triumph Gold Discovers a New Silver and Gold Vein Showing at the Freegold Mountain Project, Yukon

    May 12, 2025

Disclaimer: InsightfulTraderTips.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InsightfulTraderTips.com All Rights Reserved.

    Insightful Trader Tips
    • Finances
    • World News
    • Investing
    • Stock
    Insightful Trader Tips
    • Finances
    • World News
    • Investing
    • Stock
    Copyright © 2025 InsightfulTraderTips.com All Rights Reserved.