CALGARY, Alberta, Sept. 03, 2024 (GLOBE NEWSWIRE) — First Helium Inc. (“First Helium” or the “Company”) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today confirmed details of a webinar to highlight First Helium’s plans to test key exploration targets at the Company’s 100% owned Worsley property in Northern Alberta during the fourth quarter of 2024. Based on a thorough evaluation of recently acquired proprietary 3D seismic data, the Company has identified a significant anomaly in the Leduc Formation which it believes to be prospective for oil.
“We are planning to undertake a number of operations later this year, including testing a large 3D seismic anomaly to target Leduc oil, and completing a previously drilled horizontal well to target Blue Ridge helium-enriched natural gas. If successful, these operations will set the stage for immediate cash flow for the Company, coupled with the accelerated development of oil and helium enriched natural gas at Worsley, executed alone or with larger partners,” said Ed Bereznicki, President & CEO of First Helium.
“These operations represent a very important next step for the Company in de-risking the Leduc and Blue Ridge plays, respectively. Each has the potential to unlock significant, follow up development drilling on the Company’s 53,000 acre, 100% owned land base. If you haven’t registered yet, I encourage all current shareholders and other interested parties to do so,” added Mr. Bereznicki.
As previously announced, the webinar will be held on September 4th, 2024 at 2:30pm Mountain Standard Time (1:30pm PST, and 4:30pm EST), and presented via Microsoft Teams. In order to participate in the webinar, please pre-register at https://events.teams.microsoft.com/event/f32cb497-edf1-4d56-9df9-ad0ce5c1f81b@3961cb80-2e3d-4b6b-ba4b-cb5492fabf0b, by 2:30pm MST on September 3rd, 2024.
Highlights:
Following a brief introduction by Ed Bereznicki, President & CEO, Mr. Marc Junghans, head of Geology and Asset Development, will walk participants through two significant opportunities planned for Q4 2024, including:
- Leduc Formation: Drilling of the potentially transformational, structural feature in the Leduc Formation targeting oil, with the potential for helium-enriched natural gas; and
- Blue Ridge Formation: Completion and testing of the previously drilled 5-27 horizontal well to establish a repeatable, high margin, helium-enriched natural gas play targeted to deliver significant volumes of helium gas production.
Management Biography:
Marc Junghans, P. Geol. brings over 40 years of exploration, development, and asset evaluation experience in both the Western Canadian Sedimentary Basin and the U.S., at the senior and executive level roles, for both public and private oil & gas companies such as Compton Petroleum Corporation, Anderson Exploration Ltd., Husky Energy Inc., Tundra Oil & Gas, and Amicus Petroleum. He has also been the founding member of numerous private oil & gas entities, and during his career has overseen the drilling of over 170 horizontal and numerous vertical wells across Alberta, Saskatchewan and Manitoba.
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 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.
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