Helium Evolution Announces Farmout Well Spud At Fox, Six Months Prior To Deadline
Date
9/19/2023 5:16:10 PM
(MENAFN- GlobeNewsWire - Nasdaq) CALGARY, Alberta, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to announce that its farm-in partner, North American Helium Inc. (“ NAH ”), has spud the previously announced well located at 11-13-13-29W3 (“ Test Well #4 ”) on farmout lands within Block 3 at Fox in Saskatchewan, pursuant to the farm-out agreement announced on October 21, 2022 . Test Well #4 was originally scheduled to be spud before March 31, 2024 and today's spud date represents an acceleration of six months.
NAH is responsible for 100% of the drilling costs for Test Well #4, while HEVI retains a 20% working interest in that well, supporting the Company's continued financial flexibility and capital conservation.
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website, which includes an updated corporate presentation, and are invited to follow the Company on LinkedIn and Twitter for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned 'deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles , HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.
About Helium Evolution Incorporated
Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.
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