CALGARY, Alberta, April 16, 2024 (GLOBE NEWSWIRE) -- Global Helium Corp. ("HECO" or the "Company") (CSE: HECO, OTC: HECOF) is pleased to provide 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% - 0.68%.
"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, CEO 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, HECO 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 HECO can access approximately 369,000 acres in Alberta's Manyberries helium trend via joint venture. The Company has also captured 100%-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. HECO brings a seasoned team of industry professionals and technical experts who have established connections with North American and international helium buyers. Learn more at https://globalhelium.com/ and follow us on LinkedIn and Twitter (now X).
For further information please contact:
| Jesse Griffith, President & CEO Cindy Gray, Investor Relations | Telephone: +1 705-5076 ext. 1 Email: HECOinfo@5qir.com |
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