Total Helium resumed trading on 8th May and released an updated presentation and video describing its recent acquisition of a 50% stake in the Pinta South Helium project (27k acres) in the Holbrook Basin, Arizona. It stated that is is receiving US$500/mcf for its helium through a contract with Linde for the first 10 wells and sees spot pricing up to US$1,000/mcf. There are 2 existing producing wells with 8% helium producing at 150mcf/d and 115mcf/d of total gas, with 8 additional wells awaiting pipeline completion to add 1,000mmcf/d at an average 6.5% helium concentration. Well costs are $220k into the primary shallow Shinarump zone at 700-1,200ft with further exploration potential in the deeper zones. In Sproule's P50 case, drilling 108 wells by Feb '25 would get to plateau production of >200mmcf/y of helium in 2024. Partner Brad Butler and his team are highly experienced in helium exploration and development.
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