Global Helium Reports 1.1% Helium at 09-04 Well in Alberta

Global Helium announced a significant helium discovery in its 09-04 well, in Southeastern Alberta. Initial tests revealed a gas composition of 1.1% helium, 94.4% nitrogen, and 3.4% methane. The well demonstrated a maximum raw gas flow rate of 10mmcf/d, affirming the reservoir’s pressure and gas flow capabilities. However as an absolute open flow rate, we would expect the actual production rate to be much lower. Completion of the well triggered the earn-in of an initial eight sections on the Perpetual farm-in block, and preparations for drilling the second well are underway, with spud expected in Nov'23. Additionally, Global has appointed Tom Cross as CFO.

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