Natural Resource Partners LP Hosts Second Quarter 2022 Earnings Conference Call
“Drilling the 14-23 helium target provides us with the opportunity to take advantage of the contingent helium resource identified at 15-25,” said Ed Bereznicki , President and CEO of First Helium. “We are currently in the process of entering into helium gas sales agreements to help support the financing, fabrication, installation and commissioning of a single-well helium gas processing facility for 15-25, which is expected to start later this year,” Bereznicki added.
As with the Company’s helium 15-25 discovery well, which includes associated volumes of natural gas and natural gas liquids, First Helium intends to produce and market all associated excess hydrocarbon volumes. potential included in future discovery wells to capitalize on the current strong gas and liquids pricing outlook and maximize cash flow to support future growth. First Helium’s 79,000 acres along Worsley Trend hold great promise for helium and natural gas. Historical exploration and development drilling on the trend has encountered rich helium concentrations ranging from 0.5% to 1.9% in a number of formations
The Company’s latest press release dated July 11, 2022 , incorrectly stated that Well 15-25 was last tested in “December 2022”. It was recently tested in November 2021 to further confirm helium content and verify raw gas composition for process plant design considerations.
“Contingent resources” are not, and should not be confused with, oil and gas reserves. Further information regarding contingent resources can be found in First Helium’s final prospectus, dated June 28, 2021, filed on First Helium’s SEDAR profile at www.sedar.com.
Led by a team of senior executives with diverse and extensive experience in oil and gas exploration and operations, mining, finance and capital markets, First Helium seeks to be the one of the main independent suppliers of helium gas in North America .
Building on its successful helium 15-25 discovery well at the Worsley project, the Company has identified numerous follow-on drilling locations and acquired an extensive infrastructure system to facilitate future helium exploration and development across its Worsley land base. Cash flow from its successful oil wells to Worsley will help support First Helium’s continued growth strategy for helium exploration and development.
First Helium owns over 79,000 acres along the highly prospective Worsley Trend in Northern Alberta , and 276,000 acres in the Southern Alberta Helium Channel, near existing helium production. In addition to continuing its ongoing exploration and development drilling at Worsley the Company has identified a number of high impact helium exploration targets on the prospective lands of the Southern Alberta Helium Fairway to create a second core exploration growth area for the Company.
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING AND CAUTIONARY STATEMENTS
This press release contains certain statements or disclosures relating to First Helium that are based on management’s expectations and assumptions made by and information currently available to First Helium that may constitute forward-looking statements or information (“forward-looking statements ” ) under applicable securities laws. All such statements and disclosures, other than those of historical fact, that address activities, events, results, results or developments that First Helium anticipates or expects will occur or occur in the future ( in whole or in part) should be considered forward-looking. research statements. In some cases, forward-looking statements can be identified by the use of the words “expects”, “will” and similar expressions. In particular, but without limiting the foregoing, this press release contains forward-looking statements regarding the timing and rate of production from discovery wells 4-29 and 1-30, respectively; expected cash flows; entering into off-take marketing arrangements; the use of funds and the Company’s strategy. The forward-looking statements contained in this press release reflect several important factors and First Helium’s expectations and assumptions, including, without limitation: that First Helium will continue to conduct its operations in a manner consistent with past operations; the general continuation of current or, as the case may be, presumed industry conditions; the availability of sources of debt and/or equity to fund First Helium’s capital and operating needs as needed; and certain cost assumptions.
Forward-looking statements are based on management’s estimates and opinions as of the date they are made and are subject to risks, uncertainties and assumptions, including those set forth in the final prospectus dated June 28, 2021 and filed under the Company’s profile on SEDAR at www.sedar.com. Readers are cautioned that actual results may differ materially from the forward-looking statements made in this press release. Risks that could cause actual events or results to differ materially from those projected in the forward-looking statements include, but are not limited to, risks associated with the oil and gas industry; First Helium’s ability to fund capital and operating expenditures necessary to achieve its business objectives; the impact of the COVID-19 pandemic on First Helium’s business and operations; the state of financial markets; increased costs and physical risks associated with climate change; the loss of key employees and the risks described in the Final Prospectus dated June 28 , 2021. First Helium undertakes no obligation to update forward-looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE First Helium Inc.
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