Greg Robb, CEO of the Firm, commented, “The HEVI staff may be very inspired by what we’re seeing from the manufacturing assessments so far out of our Mankota-area wells, which is able to proceed to be evaluated earlier than and after the requisite shut-in interval. As well as, we stay up for seeing how a 3rd nicely responds to stimulation efforts, which have confirmed profitable in enhancing circulate charges in different Mankota wells. We’re happy to be partnered with NAH and we stay up for ongoing discussions concerning plans for close to and longer-term growth, together with gaining visibility into timelines for reaching numerous milestones obligatory to comprehend industrial manufacturing.”
2-31 Nicely
Following the profitable stimulation of HEVI’s first helium discovery nicely at 2-31-2-8W3 (” 2-31 Nicely “), the 2-31 Nicely was manufacturing examined at roughly 4 million normal cubic toes per day (” MMscf/d “) at 5,500 kilopascal (” kPa “) flowing tubing strain from the deadwood formation on a three-day prolonged take a look at, with a helium focus of 0.95%, greater than 3 times the 0.3% degree deemed commercially viable. The two-31 Nicely continued to extend in each circulate fee and floor flowing strain all through the circulate take a look at interval. Productiveness of the 2-31 Nicely elevated threefold following stimulation, representing a significant rise from the 1.3 MMscf/d beforehand introduced. The two-31 Nicely additionally produced negligible volumes of water, a constructive indication for helium restoration and processing.
HEVI continues to work with NAH to find out optimum subsequent steps, which can embody the drilling of an offset location designed to additional delineate the pool throughout the latter half of 2024. As well as, NAH has obtained approval of a facility license at 12-30-2-8W3, roughly 1,500 metres from the 2-31 Nicely, the development of which might symbolize one other important milestone on HEVI’s path to commercialization.
9-35 Nicely
Completion, perforation and preliminary manufacturing testing of HEVI’s discovery nicely at 9-35-3-9W3 (” 9-35 Nicely “) is ongoing. The 9-35 Nicely was producing roughly 7 MMscf/d at 9,000 kPa flowing tubing strain on the finish of a six-day prolonged circulate interval, with a helium focus of 0.64% and no water. After the prolonged manufacturing circulate interval, the 9-35 Nicely might be shut in for a 21-day interval to gather reservoir strain information for interpretation.
9-18 Nicely
After preliminary testing, HEVI’s discovery nicely at 9-18-3-8W3 (” 9-18 Nicely “) had a preliminary helium focus of 0.78% and no water. In an effort to boost productiveness, as was efficiently accomplished on the 2-31 Nicely, the 9-18 Nicely might be stimulated within the coming weeks, topic to floor situations.
HEVI intends to proceed updating the market on important occasions and developments as data turns into out there.
Convention Participation
HEVI can also be happy to substantiate that the Firm might be collaborating in a convention in Houston, Texas, hosted by the Pickering Power Companions staff together with representatives from Saskatchewan’s Ministry of Power & Assets and Ministry of Commerce & Export Growth on February 27, 2024. Throughout this occasion, HEVI’s Chief Govt Officer, Greg Robb and Chief Monetary Officer, Kristi Kunec will current the Firm’s story, and conduct one-on-one conferences with invited members of the funding neighborhood. A duplicate of the Firm’s presentation being given on the occasion is accessible on its web site at https://www.heliumevolution.ca/ .
Keep Linked to Helium Evolution
Shareholders and different events occupied with studying extra concerning the Helium Evolution alternative are inspired to go to the Firm’s website , which incorporates an up to date corporate presentation , and are invited to observe the Firm on LinkedIn and Twitter for ongoing company updates and helium business data. Helium Evolution additionally gives an in depth, commissioned ‘deep-dive’ research report ready by a 3rd celebration whose background contains serving as a analysis analyst for a number of bank-owned and unbiased funding sellers. Along with latest media articles , HEVI maintains a profile on the Investing News Network platform, the place additional data, editorial items and business opinions can be found.
About Helium Evolution Integrated
Helium Evolution is a Canadian-based helium exploration firm holding the most important helium land rights place in North America amongst publicly-traded corporations, centered on growing property in southern Saskatchewan. The Firm has over 5 million acres of land below allow close to confirmed discoveries of financial helium concentrations which is able to assist scaling the exploration and growth efforts throughout its land base. HEVI’s administration and board are executing a differentiated technique to turn into a number one provider of sustainably-produced helium for the rising international helium market.
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Assertion Relating to Ahead-Wanting Data
This information launch incorporates statements that represent “forward-looking statements.” Such ahead trying statements contain identified and unknown dangers, uncertainties and different components which will trigger precise outcomes, efficiency or achievements, or developments in the business to differ materially from the anticipated outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Ahead trying statements are statements that are not historic details and are typically, however not at all times, recognized by the phrases “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “tasks,” “potential” and comparable expressions, or that occasions or situations “will,” “would,” “could,” “might” or “ought to” happen.
Ahead-looking statements on this doc embody statements concerning the Firm’s expectations concerning future manufacturing from the 2-31 Nicely, the 9-35 Nicely and the 9-18 Nicely, the Firm’s expectations concerning scalable helium manufacturing from its land typically, the Firm and/or NAH’s plans with respect to shutting within the 9-35 Nicely for a 21-day interval and the interpretation of outcomes, the Firm and/or NAH’s plans with respect to stimulation operations on the 9-18 Nicely, the Firm and/or NAH’s plans with respect to drilling an offset location and setting up a facility, the Firm’s intention to offer additional updates concerning important updates and developments, the Firm turning into a number one provider of sustainably-produced helium, timeline of future updates, the Firm’s beliefs concerning progress of the worldwide helium market and different statements that aren’t historic details. By their nature, forward-looking statements contain identified and unknown dangers, uncertainties and different components which could trigger our precise outcomes, efficiency or achievements, or different future occasions, to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Such components and dangers embody, amongst others: NAH could be unsuccessful in drilling commercially productive wells; the Firm and/or NAH could abandon or defer plans for persevering with the completion, testing and analysis of the 9-35 Nicely and/or the 2-31 Nicely and/or the 9-18 Nicely; the Firm and/or NAH could select to defer, speed up or abandon its exploration and growth plans; the Firm and/or NAH could decide to not convey the 9-35 Nicely, the 9-18 Nicely or the 2-31 Nicely onto manufacturing; new legal guidelines or rules and/or unexpected occasions might adversely have an effect on the Firm’s enterprise and outcomes of operations; inventory markets have skilled volatility that usually has been unrelated to the efficiency of corporations and such volatility could adversely have an effect on the value of the Firm’s securities no matter its working efficiency; dangers typically related to the exploration for and manufacturing of sources; the uncertainty of estimates and projections regarding bills and the Firm’s working capital place; constraint within the availability of companies; commodity worth and alternate fee fluctuations; hostile climate or break-up situations; and uncertainties ensuing from potential delays or adjustments in plans with respect to exploration or growth tasks or capital expenditures.
When relying on forward-looking statements and data to make selections, traders and others ought to fastidiously take into account the foregoing components and dangers different uncertainties and potential occasions. The Firm has assumed that the fabric components referred to in the earlier paragraphs will not trigger such forward-looking statements and data to differ materially from precise outcomes or occasions. Nevertheless, the listing of those components shouldn’t be exhaustive and is topic to alter and there could be no assurance that such assumptions will replicate the precise end result of such gadgets or components. The reader is cautioned to not place undue reliance on any forward-looking data. Such data, though thought of affordable by administration at the time of preparation, could show to be incorrect and precise outcomes could differ materially from these anticipated. Ahead-looking statements contained in this information launch are expressly certified by this cautionary assertion. The forward-looking statements contained in this information launch are made as of the date of this information launch. The Firm does not intend, and expressly disclaims any intention or obligation to, replace or revise any forward-looking statements whether or not as a end result of new data, future occasions or in any other case, besides as required by regulation.
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