07:32:17 EDT Tue 14 May 2024
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Global Helium Corp
Symbol HECO
Shares Issued 47,736,060
Close 2024-04-16 C$ 0.095
Market Cap C$ 4,534,926
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Global Helium's 10-08 well yields 0.6% He concentration

2024-04-16 17:14 ET - News Release

Mr. Jesse Griffith reports

GLOBAL HELIUM CORP. CONFIRMS SECOND HELIUM DISCOVERY ON MANYBERRIES HELIUM TREND

Global Helium Corp. has provided an operational update on the company's exploratory well at 10-08-012-04W4/00 (10-08) situated on the farm-in land block of Perpetual Energy Inc. along the Manyberries helium trend near the Medicine Hat region of southeast Alberta.

Following remediation and stimulation to address wellbore damage incurred during the initial drilling, the 10-08 well was production tested at approximately 4.1 million cubic feet per day at 3,500 kilopascal flowing tubing pressure from the Beaverhill Lake formation during a four-day extended test. Multiple gas samples were analyzed from the well and confirmed helium concentrations from the Beaverhill Lake zone of 0.6 per cent to 0.68 per cent.

"We are extremely pleased with the performance of our 10-08 well following remediation work and stimulation, as this well represents our second commercially viable opportunity. With two confirmed helium discovery wells in our portfolio -- including this 10-08 well and our first discovery at 09-04-12-04W4 -- our team's focus is on further development and facilities planning for the Medicine Hat area, including front-end engineering and design work, along with pursuing potential offtake partners," said Jesse Griffith, chief executive officer of the company. "Combined with our recently executed seismic review option agreement with industry leader North American Helium Inc., covering the majority of our Saskatchewan acreage, [Global Helium] is well positioned to advance both our Alberta Manyberries assets and our Saskatchewan land base."

About Global Helium Corp.

Global Helium is one of Canada's largest helium exploration and development companies, focused on the exploration, acquisition, development and production of helium, done right. The company has carved out a differentiated position through a unique farm-in agreement with industry veteran, Perpetual Energy Inc., through which Global Helium can access approximately 369,000 acres in Alberta's Manyberries helium trend via joint venture. The company has also captured 100-per-cent-owned permits encompassing over 820,000 acres prospective for helium in Saskatchewan's well-established helium fairway and has recently acquired three significant assets with proven helium tests in the state of Montana. Global Helium brings a seasoned team of industry professionals and technical experts who have established connections with North American and international helium buyers.

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