- First Helium Inc. (TSXV:HELI) (OTC:FHELF) intends to drill two prospective helium targets commencing late Q2 at its 100% owned, 79,000 acre Worsley Property in Alberta, Canada.
- The wells will target potential natural gas accumulations, expected to contain commercial quantities of helium gas and natural gas.
- Based on associated historic data, helium content ranges from 0.5% to 1.9% across the Worsley Property.
- The wells will be funded from cash on hand, accumulated from the company's oil production operations.
- "With attractive near to mid-term helium and natural gas pricing indications, we are focusing our efforts on adding additional helium volumes to our successful 15-25 helium discovery well and plan to begin producing as soon as possible," commented CEO Ed Bereznicki.
- Price Action: HELI shares are trading higher by 12.24% at C$0.55 on TSXV, and FHELF is higher by 28.1% at $0.42 on the last check Tuesday.
