Exciting Developments from the 10-36 Well
CALGARY, Alberta — Helium Evolution Incorporated (TSXV:HEVI) is thrilled to provide a preliminary update on the 10-36-3-9W3 helium discovery well along the Mankota helium fairway. Holding a 20% working interest in this productive venture in collaboration with North American Helium Inc. (NAH), the company is making strides that showcase its commitment to helium resource development.
Preliminary Insights from Test Results
The initial phases, including completion and production testing of the 10-36 Well, are actively progressing. Recent flow testing, which lasted five days, indicated an impressive output of approximately 11.5 million standard cubic feet per day (MMscf/d) at a tubing pressure of 13,100 kiloPascal (kPa). Notably, the test results unveiled a helium concentration of 0.81%, far surpassing the commercially viable threshold of 0.3%. This significant finding, combined with minimal water production, points to a strong opportunity for effective helium extraction.
Strategic Plans Moving Forward
After the flow testing, the 10-36 Well will undergo a temporary cessation for 14 days, allowing for the collection of vital reservoir pressure data. This data will be crucial as it aids the company's efforts in evaluating the resource potential and shaping future development initiatives.
Overall Performance of Helium Evolution Wells
Helium Evolution has been diligently gathering data from its various wells. Some preliminary performance figures from these wells indicate:
- 10-36 Well: 11.5 MMscf/d, 0.81% helium content
- 10-1 Well: 9.5 MMscf/d, 0.75% helium content
- 9-35 Well: 7.0 MMscf/d, 0.64% helium content
- 2-31 Well: 4.0 MMscf/d, 0.95% helium content
Collaboration and Future Ventures
In partnership with NAH, Helium Evolution is actively planning the next phase of development. The proximity of three helium discovery wells prompts NAH to evaluate the feasibility of establishing processing facilities in the region. This is an exciting development for HEVI, which sees the establishment of these facilities as essential to its transition towards commercial helium production.
Stay Updated on Helium Evolution
Shareholders and interested parties are encouraged to explore Helium Evolution's offerings by visiting the company's website. They can also access an updated corporate presentation along with ongoing updates through the company’s social media channels. Helium Evolution is dedicated to bringing valuable insights and developments concerning the helium industry to its stakeholders.
About Helium Evolution Incorporated
As a key player in the helium sector, Helium Evolution is recognized for holding the largest helium land rights position in North America among publicly traded companies. The company’s focus spans over five million acres of land positioned near proven helium deposits, reinforcing its strategic objectives as it works towards becoming a significant provider of sustainably produced helium for the dynamic global market.
Frequently Asked Questions
What are the preliminary results from the 10-36 Well?
The 10-36 Well has shown a production rate of approximately 11.5 MMscf/d with a helium concentration of 0.81%, significantly above commercial viability.
How long will the well be shut in?
The 10-36 Well will be shut in for 14 days to collect important reservoir pressure data necessary for further analysis.
What is the significance of the water production rate?
The negligible water production from the 10-36 Well indicates a potentially efficient recovery process for helium extraction.
How is Helium Evolution connected to North American Helium?
HEVI collaborates with North American Helium (NAH) in developing its helium wells, sharing interests to explore and enhance production capabilities.
What is Helium Evolution's focus in the future?
Helium Evolution aims to transition towards commercial helium production while maintaining a strong emphasis on sustainable practices within its operations.
