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HEVI and NAH's First Helium Discovery in Saskatchewan

Helium Evolution (HEVI) and partner North American Helium (NAH) have their first joint helium discovery in southern Saskatchewan following tests on Joint Well #1. The well exhibited helium concentrations of 0.95%, surpassing the commercially viable threshold of 0.3%. A consistent flow rate of 1.3mmcf/d of raw gas, stable reservoir, and positive pressure transient analysis suggest a productive reservoir, with potential for increased deliverability up to 4-6x with stimulation. Discussions are underway with NAH regarding next steps and future exploration plans in the region. HEVI also reported Q3'23 results with a net loss of C$0.6mm (narrowing from C$3.8mm in Q3'22), cash position of C$7mm and total assets of C$12.7mm.

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