First Helium Moves Forward with Drilling Operations
CALGARY, Alberta — First Helium Inc. (“First Helium” or the “Company”) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) has taken a significant step in its drilling program by securing a drilling contractor for its 7-15 high-impact exploration site and the proven undeveloped 7-30 oil location. The contractor's rig is presently engaged with another operator in the area. However, the Company anticipates that it will arrive at the 7-30 site and commence drilling within the next two weeks, depending on weather conditions and any unexpected delays.
Strategic Operations and High Potential
Ed Bereznicki, President & CEO of First Helium, expressed enthusiasm about the drilling operations saying, "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 indicates an area approximately five times larger than our successful 1-30 light oil pool discovery. This arrangement allows us to minimize mobilization costs and ensures a seamless drilling operation between both wells." The operations at both well sites have already started, with preparations being made to ensure a smooth start to drilling.
Efficient Drilling Transition
The proximity of the two locations, roughly 6 kilometers apart, is advantageous, allowing for a smooth transition between drilling operations. As the drilling progresses, the Company is making necessary arrangements to complete and tie-in both wells effectively before the annual spring breakup in Alberta, a time when heavy equipment movement is limited due to provincial regulations.
Company Growth and Exploration Strategy
First Helium is dedicated to becoming a leading independent helium provider in North America. The company holds over 53,000 acres along the promising Worsley Trend in Northern Alberta, which serves as the foundation for its exploration and development drilling activities. Building upon its previous successful wells, First Helium has identified several follow-up drilling locations, bolstered by an extensive infrastructure aimed at facilitating ongoing exploration and development.
Cash Flow from Successful Operations
The cash flow generated from the successful oil wells strategically supports First Helium’s growth strategy in exploration and development. This financial support fuels the identification of further oil drilling locations on its expansive Worsley land base. The company’s commitment to exploring these locations aligns with its goal to enhance value for its shareholders through increased production and operations.
About First Helium
First Helium is underpinned by a strong core management team with diverse expertise in Oil & Gas Exploration and Operations, Finance, and Capital Markets. The Company's commitment to honest and sustainable practices positions it uniquely within the industry, particularly as it advances its plans for growth and expansion in the helium sector.
Contact Information
For more details about First Helium Inc., interested parties can reach out directly via:
- Email: ir@firsthelium.com
- Phone: 1-833-HELIUM1 (1-833-435-4861)
Frequently Asked Questions
What is the main focus of First Helium's latest drilling plan?
First Helium is focusing on drilling two wells, 7-15 and 7-30, targeting Leduc light oil, anticipating a boost in production and cash flow.
How will the drilling operations be conducted?
The operations will utilize a rig that has been active in the region, allowing for a back-to-back drilling process to reduce mobilization costs.
What is the significance of the 7-30 and 7-15 locations?
These locations are strategically chosen due to their proximity and the potential for high oil yield, with the seismic data suggesting a significantly larger area than previous successful wells.
How does First Helium plan to enhance shareholder value?
The Company aims to enhance shareholder value through increased production from its wells, generating immediate cash flow, and expanding exploration efforts.
What are the company's long-term exploration goals?
First Helium plans to continue identifying and developing additional drilling locations within its extensive Worsley land base, focusing on sustainable growth in the helium and oil sectors.
