HEVI-NAH 5th Unsuccessful Well

Helium Evolution abandoned its fifth farmout well in Saskatchewan, drilled by North American Helium. This is the 7th unsuccessful well for HEVI since the IPO, although the potential for re-entry offers some hope. HEVI shares are down >70% since IPO and leaves only two test area wells (Mankota and Fox locations) in its exploration lands. HEVI provided spud dates for its remaining 2 wells - one Mankota well by 1st Nov 2023 and the Fox well by 31st March 2024. NAH is responsible for 100% of the drilling costs for these 2 wells.

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