North American Helium (farm-out partner of Helium Evolution) will proceed with drilling five new wells in southern Saskatchewan as part of the Amended Farmout Agreement. Scheduled to be spud by NAH within specific timeframes, these wells include locations in Mankota, Fox and Gravelbourg. NAH will cover 100% of the drilling costs, while Helium Evolution retains a 20% working interest. The previously announced Mankota Farmout location at 12-11-05-10W3 (“Test Well #3”) is scheduled to be spud by NAH on or before July 14, 2023.
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