First Helium Inc. received the required licensing from the Alberta Energy Regulator to begin drilling its first exploratory well on its core Worsley Property in October. The well was spudded in early November. The newly licensed well is located near the company’s discovery well, which was previously tested to contain 1.3% helium content based on a 10-day flow period at 2 mmcf/d of raw gas. The raw gas stream is comprised of approximately 65% natural gas, which will be produced along with the helium gas, sold to market and also used to generate power for facility operations. Assuming the same raw gas flow rate, ~22 barrels of associated liquid condensate will also be separated, collected and sold to market.
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