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First Helium brings 1-30 well on-stream at a rate of 435 bblpd

First Helium has begun full production of its 1-30 well which had hit oil. Production has been on for eight days at the well, and is reportedly producing light oil at an average rate of 435 bbl/d. The company currently expects netbacks of C$55-60/bbl per barrel. Cash flow from the production of oil is to be utilised for the further exploration and development on the Worsley Trend property Cash flow is expected to begin in late February with a monthly estimate of C$0.6 million based on current production.

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