Nov 14, 20211 min
TOTAL Helium raised gross proceeds of C$12.5mm and completed the acquisition of all of the outstanding share capital of Brooks Range Corporation. TOTAL Helium commenced trading on the TSX Ventures exchange on 11th November. The Company acquired Brooks Range from Brooks Energy Company in consideration for a one-time cash payment of US$1,150,000. On 14th November it commenced drilling operations for its first well, the Boltz 35B, at its 86,000-acre project in western Kansas where it aims to extend the Hugoton Gas Field, the largest conventional onshore natural gas and helium field in North America.
Brooks Range is a privately-held Colorado corporation which controls the rights to the Helium Project, consisting of approximately 86,000 acres of oil and gas leases in the States of Kansas and Colorado, a farmout agreement and certain helium pre-purchase payments.