First Helium's Ambitious Plans for Growth in 2025
CALGARY, Alberta — First Helium Inc. (“First Helium” or the “Company”) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) has unveiled exciting plans as it gears up for 2025, shared through a message from President & CEO, Ed Bereznicki.
Setting the Stage for Success
As we enter the new year, First Helium stands poised at a critical juncture. The company has identified and secured funding for two significant drilling targets aimed for immediate execution. The thorough technical analyses conducted throughout the previous year position First Helium exceptionally well for what is anticipated to be a transformative period ahead.
Securing Financing and Immediate Opportunities
Having recently wrapped up a financing round, First Helium raised an impressive $3.64 million, with notable backing from its management team. This capital is earmarked for two principal oil exploration ventures slated for the first quarter of 2025, contingent upon favorable weather conditions and service availability. Focusing on developments that can be efficiently optimized allows First Helium to capitalize on current market conditions.
Upcoming Drilling Targets
The company has obtained licensing approval for its 7-30 PUD site, which boasts potentially recoverable reserves independently assessed at 196,700 barrels. This project builds upon the achievements of both the 1-30 and 4-29 oil wells, which have cumulatively generated over $13 million in revenue and delivered more than $8 million in cash flow. In tandem, First Helium plans to drill into the newly identified 7-15 Leduc anomaly. The structure is estimated to be roughly five times larger than the successful 1-30 pool, as indicated by proprietary 3D seismic data. Both sites present opportunities for substantial yield across various productive formations.
Uncovering Additional Growth Potential
In addition to the immediate prospects, First Helium's technical work has confirmed the existence of 10 additional Leduc locations, each with multi-zone potential, ready for methodical development. The company's recruitment of Marc Junghans, who brings over 40 years of geological experience in the Western Canadian Sedimentary Basin, has played a crucial role in validating these spots through rigorous evaluation of the proprietary 3D seismic information.
Leveraging Technical Expertise
The seismic patterns observed across these locations are consistent with those witnessed in the fruitful 1-30 and 4-29 wells. Promisingly, the Leduc formations identified via the latest 3D seismic data appear to expand eastward into areas held entirely by First Helium. Future efforts to acquire additional proprietary 3D seismic data in this region could further enhance potential drilling sites, augmenting the existing inventory.
Helium-Enriched Natural Gas Opportunities
Adding another layer to its asset value, First Helium sees potential in helium-enriched natural gas, particularly within the Blue Ridge play. This emerging opportunity could either be developed through strategic partnerships or funded through the company’s own cash flow, depending on the success of ongoing drilling efforts. This dual approach to value creation offers flexibility in development pathways.
A Comprehensive Growth Strategy
First Helium's systematic approach to value creation, underpinned by complete ownership of over 53,000 acres and deep technical expertise, sets the stage for remarkable growth. The company is confident that its validated technical plan, paired with robust infrastructure capabilities, will streamline execution across the multi-commodity Worsley project.
Looking Ahead with Optimism
As we survey the horizon of 2025, First Helium maintains a clear objective: to act on immediate high-impact projects while diligently progressing its broader portfolio of opportunities. The company is strategically positioned to create significant short-term value while retaining potential for ongoing growth.
In closing, Ed Bereznicki expresses gratitude to shareholders for their steadfast support and looks forward to updating them on upcoming developments throughout the year.
Frequently Asked Questions
What are First Helium's main goals for 2025?
First Helium aims to execute immediate high-impact oil opportunities, while also advancing its broader portfolio of drilling targets.
How much funding has First Helium secured recently?
The company successfully raised $3.64 million, primarily from management participation, to support upcoming drilling projects.
What are the new drilling targets for First Helium?
The new drilling projects include the 7-30 PUD site and the 7-15 Leduc anomaly, both of which are expected to enhance production capacity.
Who is leading the team at First Helium?
The team is led by Ed Bereznicki, President & CEO, along with a core group of senior executives with diverse backgrounds in the oil and gas industry.
What is the potential of the Blue Ridge play for First Helium?
The Blue Ridge play represents a future opportunity for helium-enriched natural gas, which could be developed through strategic partnerships or internal cash flow.
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