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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