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HEVI-NAH Update on Mankota Discovery Wells

Helium Evolution (HEVI), and its partner, North American Helium (NAH), have reported positive preliminary results from three wells in the Mankota area of southern Saskatchewan. The 2-31 well demonstrated a significant increase in productivity following stimulation, with a flow rate of ~4mmcf/d (vs the previously announced 1.3mmcf/d) and a helium concentration of 0.95%, implying potential helium production of ~14mmcf/y. The 9-35 Well demonstrated a flow rate of ~7mmcf/d with a 0.64% helium concentration, which indicates about 16mmcf/y. Meanwhile, the 9-18 well, set for imminent stimulation, initially reported a 0.78% helium concentration. HEVI and NAH are currently planning the 2024 schedule and aim to construct production facilities during the year.

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