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Global Helium Confirms 1.1% He at Manyberries and books 2C resource

Global Helium announced successful drilling results from its Manyberries asset in Southeast Alberta, with two exploratory wells confirming helium presence. The first well, 09-04, had a flow rate of 11.6mmcf/d of and a stabilised flow test of 2.8mmcf/d from the Beaverhill Lake Formation, with 1.1% helium, implying helium production of ~11mmcf/y. The second well, 10-08, faced operational challenges but still confirmed helium. The company has now secured a 75% interest in the area and received a Contingent Resource Report from McDaniel & Associates for the 2 wells confirming a best estimate unrisked resource of 44mmcf (gross) with an 80% chance of commercialisation. This is a conservative estimate as it only includes resource around one well so there is considerable upside from the entire prospect. Assuming an NPV of ~US$150/mcf would imply around US$7mm in value for the resource around this well.

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