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First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced two discoveries at its Worsley Project:
Shallow Heavy Oil Discovery
First Helium (TSXV:HELI,OTCQB:FHELF,FRA:2MC) is a Canadian company developing helium resources in Alberta, Canada. The company’s primary asset is the Worsley project spanning 53,000 acres, including helium-enriched natural gas, oil and other natural resources. First Helium has made significant progress with multiple discoveries, including a helium discovery well and successful oil wells. The company aims to grow its production and cash flow through ongoing exploration and drilling activities.
First Helium targets over $100 million in annual revenue within the next three to five years. Based on current projections, vertical drilling alone could generate over $100 million in annual revenue, with cash flow estimated to reach $70 million annually.
The Worsley project is distinguished by its significant helium resources and multi-zone drilling potential for helium, natural gas and oil. Worsley area has produced over 1 Bcf of helium, which was not recovered in previous natural gas operations, highlighting the untapped potential of the region for helium extraction.
The Worsley project area benefits from an existing natural gas gathering infrastructure, expediting the timeline to bring helium to market. First Helium expects the first production to begin in the fourth quarter of 2025, positioning it to become a key supplier in the growing North American helium market.
Company Highlights
- Helium is a critical mineral with steady growth in demand. Major companies like Google, Amazon, SpaceX, Samsung, NVIDIA and Intel rely on it.
- Helium prices have increased by over 50 percent in the last three years and the market is expected to grow 300 percent by 2030.
- First Helium’s indicative cash netbacks are three to four times higher than typical Canadian natural gas producers.
- First Helium offers exposure to helium, natural gas and oil revenue streams, which diversifies risk and increases value.
This First Helium profile is part of a paid investor education campaign.*
HELI:CA
First Helium Announces Shallow Heavy Oil Discovery
- In the recently completed 7-30 well, approximately 50 barrels of 15-degree API oil was recovered in the two calendar days following an acid stimulation, demonstrating vertical well, cold flow heavy oil capability.
- The 7-15 well, without stimulation, also produced small quantities of heavy oil from the same formation and was shut-in for further evaluation following spring breakup.
- This discovery confirms the Company's ongoing evaluation of this zone ("Heavy Oil Zone"), which occurs repeatedly over the Company's 53,000-acre (~83 square miles) Worsley land base as a potential shallow heavy oil development play. The Company is now proceeding to prepare a plan to develop this potentially large, repeatable play.
Helium Enriched Natural Gas Play
- Successfully tested the Blue Ridge Formation in its 7-15 well, which flowed natural gas with helium content of 1.0%.
- Results confirm the eastern extension of the Blue Ridge helium enriched natural gas regional play concept established on the Company's West Worsley lands.
"Our recent drilling program has validated what we've long understood about the multi-zone potential of our Worsley property," said Ed Bereznicki, President & CEO of First Helium. "While our primary oil target in the Leduc formation did not test as commercially viable, our secondary target for heavy oil has exceeded our expectations for inflow of cold flow heavy oil from a vertical well bore. We are very excited to proceed with the development of this potentially large, shallow heavy oil play utilizing contemporary horizontal drilling methods. Our initial economic analyses indicate attractive rate of return estimates for a large, lower risk development play," added Mr. Bereznicki.
"In addition to the heavy oil play, we are pleased to confirm the extension of our Blue Ridge helium enriched natural gas play to the eastern block of First Helium's land base. This has the potential to significantly increase the size of this regional play at Worsley, making it attractive to potential partners for large scale development", concluded Mr. Bereznicki.
The Company provides additional details on these two development opportunities:
Shallow Heavy Oil Opportunity
The Heavy Oil Zone has been recognized by the Company in numerous existing wellbores across the Worsley land base, representing the potential for a large, attractive, lower-risk oil development opportunity utilizing contemporary horizontal drilling technology. Based on the Company's evaluation, including results of the 7-15 and 7-30 wells, potential project highlights would include:
- Large volumes of oil in place, with management's initial estimate of approximately 5 million barrels of original oil in place per square mile.
- Application of contemporary, proven horizontal drilling techniques to maximize oil recovery.
- Management analyses indicate attractive rate of return estimates and payback periods for a lower risk, cold flow heavy oil development play.
- Company owned oil battery and water disposal facilities nearby to reduce operating costs.
- Evaluation work has begun to prepare a plan for an area development project across Worsley.
- Next steps include bringing the 7-30 heavy oil zone into production and preparing to drill a horizontal test well into the shallow formation to kickstart the development plan – both activities are being planned for early Q3.
Blue Ridge Opportunity
The Company has confirmed the extension of the Blue Ridge Formation from West Worsley to the eastern portion of its property through recent drilling. Highlights include:
- Blue Ridge first identified at West Worsley, where two historical vertical wells produced natural gas with ~0.8% helium content.
- 5-27 Blue Ridge horizontal well (100% owned by First Helium) at West Worsley is cased and ready for completion.
- 7-15 well gas sample analysis returned an average helium content of 1.0%, which is notably higher than the 0.8% results at West Worsley - confirming the observed trend of increasing helium content from west to east across the Company's Worsley land base.
- Based on results from drilling the 7-30 and 7-15 wells, the Company confirmed that the Blue Ridge play extends to East Worsley.
- Company-owned pipeline network provides an infrastructure advantage for development across Worsley.
- Next steps include completing and testing the 5-27 horizontal well and preparing an area development plan in collaboration with potential project partners.
Leduc Formation Targets Update
The Company's recent drilling program also continues to advance its Leduc Formation targets:
- Higher risk play for light oil, natural gas and helium.
- Individual vertical exploration wells target discrete structures, complementing the lower-risk, more expansive, overlying horizontal development plays represented by the Heavy Oil Zone and the Blue Ridge Formation.
- While the Leduc Formation structure target was reached as planned in each of 7-30 and 7-15, neither opportunity demonstrated commercial potential during testing, though valuable geological data was obtained to refine future targeting. The Company will incorporate the data into a fresh evaluation of the Leduc play, incorporating the prior successes at the15-25, 1-30, and 4-29 wells.
- Interpretation of the Company's proprietary 3D Seismic, incorporating the recent wells 7-15 and 7-30, validates the Company's technical approach, reducing risk on future locations.
"Our multi-formation approach at Worsley represents a balanced portfolio of opportunities," noted Mr. Bereznicki. "The combination of higher-impact Leduc targets along with more systematic development opportunities in the Heavy Oil Zone and Blue Ridge Formation provides both near-term potential and longer-term, scalable growth across our extensive land base."
The Company will be providing more detail regarding its development plans for each opportunity over the course of the next quarter.
ABOUT First Helium
Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.
First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.
Building on its successful 15-25 helium discovery well, and 1-30 and 4-29 oil wells at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium's ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company's Worsley land base.
For more information about the Company, please visit www.firsthelium.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Edward J. Bereznicki
President, CEO and Director
CONTACT INFORMATION
First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
SOURCE: First Helium Inc.
News Provided by GlobeNewswire via QuoteMedia
First Helium Completes Drilling 7-15 Well & Cases for Completion and Testing
First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has completed drilling its 7-15 exploration well at its Worsley Property in Northern Alberta. The 7-15 well has been cased for completion and testing. The Company is now proceeding with a plan to complete and test both the 7-30 and 7-15 wells.
"We are pleased to have completed drilling our 7-15 well which was delivered on time and within budget, despite drilling during challenging winter conditions. We look forward to completing and testing both wells over the coming weeks," said Ed Bereznicki, President & CEO of First Helium.
The proximity of the two locations (see Figure 1), approximately 6 kilometers apart, will enable the Company to efficiently complete and test both wells. Subject to results, necessary preparations are being made to complete, equip and tie-in both wells prior to spring break up in Alberta (a period from mid/late March through May when Provincial highway restrictions limit heavy equipment movement), further setting the stage for systematic development across the Company's extensive, 100% owned land base.
Figure 1:
East Worsley Project Inventory
ABOUT First Helium
Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.
First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.
Building on its successful 15-25 helium discovery well, and 1-30 and 4-29 oil wells at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium's ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company's Worsley land base.
For more information about the Company, please visit www.firsthelium.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Edward J. Bereznicki
President, CEO and Director
CONTACT INFORMATION
First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
SOURCE: First Helium Inc.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d53617a4-0348-456b-aa2e-0eaa6f3005a9
News Provided by GlobeNewswire via QuoteMedia
First Helium Spuds 7-15 Exploration Well
First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has begun drilling its high impact Leduc anomaly, the 7-15 well, at its Worsley Property in Northern Alberta. The location was identified on proprietary 3D seismic data interpreted last spring. In addition to the primary Leduc formation target, the Company will be evaluating multiple uphole zones for oil, natural gas and helium. These zones have been previously identified on First Helium wells and in other existing well bores on, and around the Company's Worsley land base. The Company will continue to provide regular updates on ongoing field activities.
"We are excited to be drilling our high impact Leduc anomaly, 7-15, which on seismic is approximately 5X the areal extent of our successful 1-30 light oil pool discovery. Favorable results from this well will further de-risk our Leduc Play, where we have identified 10 additional primary locations on proprietary 3D seismic, and potential for further southeast extension across our 100% owned lands," said Ed Bereznicki, President & CEO of First Helium. "With this next drill, we are also excited about continuing to evaluate the multi-zone potential across our Worsley land base. Success in these stacked zones could provide meaningful additional value for our shareholders from multiple formations and commodities," added Mr. Bereznicki.
The recently drilled 7-30 development well has been cased for completion and testing. Following drilling of the 7-15 well, and subject to results, necessary preparations are being made to complete, equip and tie-in both wells prior to spring break up in Alberta (a period from mid/late March through May when Provincial highway restrictions limit heavy equipment movement), further setting the stage for systematic development across the Company's extensive 100%-owned land base.
Figure 1:
East Worsley Project Inventory
ABOUT First Helium
Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.
First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.
Building on its successful 15-25 helium discovery well, and 1-30 and 4-29 oil wells at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium's ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company's Worsley land base.
For more information about the Company, please visit www.firsthelium.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Edward J. Bereznicki
President, CEO and Director
CONTACT INFORMATION
First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
SOURCE: First Helium Inc.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/695cd8e5-7291-4f66-b2f9-a6bdc7d7928e
News Provided by GlobeNewswire via QuoteMedia
First Helium Completes Drilling 7-30 Well & Cases for Completion and Testing
First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has completed drilling its proven undeveloped ("PUD") 7-30 oil location at its Worsley Property in Northern Alberta 1,2 . The 7-30 well has now been cased for completion and testing. In addition to the targeted Leduc formation, the Company encountered multiple uphole, shallower zones with prospectivity for oil, natural gas and helium. These zones have been previously recognized and mapped on the Worsley land base. The drilling rig is now being mobilized to the 7-15 location to begin drilling over the next few days, barring any unforeseen delays. The Company will continue to provide regular updates on ongoing field activities.
"We are pleased to have completed drilling our 7-30 well which was delivered on time and within budget. We will follow up by drilling our high impact Leduc anomaly, 7-15, which on seismic is approximately 5X the areal extent of our successful 1-30 light oil pool discovery. Favorable results from these two wells will further de-risk our Leduc Play, where we have identified 10 additional primary locations on proprietary 3D seismic, and potential for further southeast extension across our 100% owned lands," said Ed Bereznicki, President & CEO of First Helium. "With success, the combined oil potential from these two operations would provide immediate cash flow and meaningful near-term value for our shareholders," added Mr. Bereznicki.
The 7-15 vertical well location (see Figure 1) has been prepared for drilling. The proximity of the two locations, approximately 6 kilometers apart, will enable efficient rig transfer and minimize mobilization costs. Subject to results, necessary preparations are being made to complete, equip and tie-in both wells prior to spring break up in Alberta (a period from mid/late March through May when Provincial highway restrictions limit heavy equipment movement), further setting the stage for systematic development across the Company's extensive, 100% owned land base.
Figure 1:
East Worsley Project Inventory
Notes:
(1) Prepared by Sproule Associates Limited ("Sproule"), independent qualified reserves evaluator, in accordance with COGE Handbook.
(2) Assigned 196,700 Barrels of Gross Proved plus Probable Undeveloped reserves, per Sproule, Evaluation of the P&NG Reserves of First Helium Inc. in the Beaton Area of Alberta (as of March 31, 2023). See First Helium's SEDAR+ profile at www.sedarplus.ca .
ABOUT First Helium
Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.
First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.
Building on its successful 15-25 helium discovery well, and 1-30 and 4-29 oil wells at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium's ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company's Worsley land base.
For more information about the Company, please visit www.firsthelium.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Edward J. Bereznicki
President, CEO and Director
CONTACT INFORMATION
First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
SOURCE: First Helium Inc.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f69ce090-4b41-4f95-af1c-7869bf8f4ec4
News Provided by GlobeNewswire via QuoteMedia
First Helium Spuds 7-30 Undeveloped Light Oil Well at Worsley
First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has begun drilling its proven undeveloped ("PUD") 7-30 oil location at its Worsley Property in Northern Alberta 1,2 . Following drilling of the 7-30 vertical well, the contractor's drilling rig will move directly to the 7-15 location to begin drilling in early February, barring any unforeseen delays. The Company will continue to provide regular updates on ongoing field activities.
"We are excited to be drilling again - starting with our 7-30 light oil development well which spudded this past weekend. We will follow up by drilling our high impact Leduc anomaly, 7-15, which on seismic is approximately 5X the areal extent of our successful 1-30 light oil pool discovery. Favorable results from these two wells will further de-risk our Leduc Play, where we have identified 10 additional primary locations on proprietary 3D seismic, and potential for further southeast extension across our 100% owned lands," said Ed Bereznicki, President & CEO of First Helium. "With success, the combined oil potential from these two operations would provide immediate cash flow and meaningful near-term value for our shareholders," added Mr. Bereznicki.
The 7-15 vertical well location (see Figure 1) has been prepared for drilling. The proximity of the two locations, approximately 6 kilometers apart, will enable efficient rig transfer and minimize mobilization costs. Subject to results, necessary preparations are being made to complete, equip and tie-in the two wells prior to spring break up in Alberta (a period from mid/late March through May when Provincial highway restrictions limit heavy equipment movement), further setting the stage for systematic development across the Company's extensive land base.
Figure 1:
Worsley Project Inventory
| Notes: | ||
| (1) | Prepared by Sproule Associates Limited ("Sproule"), independent qualified reserves evaluator, in accordance with COGE Handbook. | |
| (2) | Assigned 196,700 Barrels of Gross Proved plus Probable Undeveloped reserves, per Sproule, Evaluation of the P&NG Reserves of First Helium Inc. in the Beaton Area of Alberta (as of March 31, 2023). See First Helium's SEDAR+ profile at www.sedarplus.ca . | |
Option Grant
Today the Company granted 8,000,000 incentive stock options to certain Directors, Officers and key Consultants of the Company. The Options are exercisable at a price of $0.09 and valid until January 21, 2030.
ABOUT First Helium
Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.
First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.
Building on its successful 15-25 helium discovery well, and 1-30 and 4-29 oil wells at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium's ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company's Worsley land base.
For more information about the Company, please visit www.firsthelium.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Edward J. Bereznicki
President, CEO and Director
CONTACT INFORMATION
First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
SOURCE: First Helium Inc.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ea92f055-5a98-4262-8475-38fb286df847
News Provided by GlobeNewswire via QuoteMedia
RaaS Research Sees Major Upside for Provaris’ Hydrogen Play
“The company holds a material early-mover advantage with a number of strategic partnerships and two hydrogen supply, offtake and shipping agreements expected to become unconditional over the next 12 months,” RaaS added.
The analysis highlights several factors contributing to Povaris’ investment value proposition: hydrogen as a critical element essential to the growing alternative energy supply chain; Povaris’ use of Norwegian renewable energy ensuring compliance with EU fuel standards; and Povaris’ innovative ‘capital-lite’ financial model for early cash.
Illustration of a FSIU in the foreground, receiving cargo from a LCO2 carrier in the background (Source: Yinson Production AS)
Key highlights of the report:
- Disruptive Tank Technology: Provaris owns proprietary compressed hydrogen tank IP designed for cost-efficient maritime transport — a potential game-changer in hydrogen and CO₂ logistics.
- Major Hydrogen Projects: Two European hydrogen export projects (with Uniper and Norwegian Hydrogen) are targeting FID by mid-2026 and commercial start-up by 2029.
- Capital-Lite Model: Revenue is expected via license and origination fees, avoiding large upfront costs; early cash flow potential through third-party ship funding and revenue sharing.
- Valuation Upside: Analyst values PV1 at $123m ($0.16/share) mid-point – a 12x premium to current share price ($0.013), driven by hydrogen project potential and IP value.
- Carbon Capture Expansion: Provaris is co-developing LCO₂ storage and transport solutions with Yinson, including the EU-backed STARFISH CCS project, with JV funding and global applications.
For the full analyst report, click here.
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Westport Announces Closing of Previously Announced Light-Duty Segment Divestiture
Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX:WPRT Nasdaq:WPRT), today announced the successful closing of the previously announced transaction to divest its Light-Duty Segment and outlines its strategic vision for future growth, emphasizing expansion of market share, entering new markets and right sizing its current operations.
Today, Westport closed the sale of the Light-Duty Segment to a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. ("Heliaca Investments"), a Netherlands based investment firm supported by Ramphastos Investments Management B.V., a prominent Dutch venture capital and private equity firm (the "Transaction"). The Transaction, initially announced on March 31, 2025, includes the sale of Westport Fuel Systems Italia S.r.l., encompassing the Light-Duty OEM, delayed OEM, and independent aftermarket businesses. Total consideration for the assets was a base price of approximately $79.5 million (€67.7 million), subject to certain adjustments, along with potential earnouts of up to a revised estimate of $3.9 million (€3.3 million) based on future performance milestones.
"The successful completion of the disposition of our Light-Duty Segment marks a pivotal step in strengthening our balance sheet," said Dan Sceli, Chief Executive Officer of Westport Fuel Systems. "More importantly, it allows Westport to sharpen our focus on the larger, higher-growth opportunities ahead, including providing the most economical solutions for heavier duty and high horse power commercial mobility and industrial applications that also deeply decarbonize these challenging segments – where we believe our products and technologies can deliver the greatest value."
The New Westport
With the successful completion of the Light-Duty Segment divestiture, Westport is taking the necessary steps to execute on a new and focused integrated business strategy. The Company recognizes the evolving macroeconomic environment and is positioning itself to capitalize on renewed market momentum, drive operational excellence, and deliver on key financial objectives.
"The transportation landscape is shifting, and customer demand for cleaner, smarter, and more sustainable solutions continues to accelerate," added Sceli. "We're seeing renewed attention on CNG and LNG fuelled platforms and Westport is uniquely positioned to deliver the necessary products and technologies. By leveraging our core strengths in fuel-agnostic, high-pressure fuel systems, we aim to meet growing market demand and provide our customers with reliable solutions that perform – and in many cases are more affordable than the incumbant engines."
During the upcoming Q2 financial results conference call, Westport will be covering additional details about the transaction and Westport's strategy ahead. We will focus on key priorities, including:
- Cespira: Strategic market expansion and technology leadership in heavy-duty transportation and off road high horse power mobility
- High Pressure Controls and Systems: Complementing the energy transition with versatile solutions that support multiple powertrain platforms
- Westport Financial Initiatives: Balancing opportunity scale, execution performance, and dynamic market conditions
Westport's key focus going forward recognizes both the opportunities and headwinds in overall market conditions. We have initiated a comprehensive internal process to review additional ways to maximize our economic benefit from this recent transaction for our stakeholders. We look forward to providing additional insight and updates when we report Q2 2025 results on Monday, August 11, 2025, after market close.
About Westport Fuel Systems
Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, we design, manufacture, and supply advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions.
Our proven technologies support a wide range of clean fuels – including natural gas, renewable natural gas, and hydrogen – empowering OEMs and commercial transportation industries to meet performance demands, regulatory requirements, and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping our partners achieve sustainability goals – without compromising performance or cost-efficiency – making clean, scalable transport solutions a reality.
Westport Fuel Systems is headquartered in Vancouver, Canada. For more information, visit www.westport.com .
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the anticipated benefits of the Transaction, including potential earn-out payments, the ability to strengthen our balance sheet, the ability to capitalize on higher- growth opportunities , and our expectations regarding the future success of our business. Other forward-looking statements included in the release include those relating to Westport's future strategic plans, business opportunities and use of the Transaction proceeds. These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties, and assumptions include those related to governmental policies, regulation and approval, the achievement of the performance criteria required for the earnout described above, purchase price adjustments contained in the Agreement, the demand for our products, as well as other risk factors and assumptions that may affect our actual results, performance, or achievements, as discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website referenced in this press release are not incorporated by reference herein .
Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@westport.com
News Provided by GlobeNewswire via QuoteMedia
BPH Energy Limited Quarterly Activities Report
Perth, Australia (ABN Newswire) - Significant activities by the BPH Energy Limited (ASX:BPH) investees during the June 2025 quarter were as follows:
Advent Energy Limited ("Advent") (BPH 35.8% direct interest) PEP-11 Permit
Advent Energy Limited's100% subsidiary Asset Energy Pty Ltd ("Asset") is a participant in the PEP11 Joint Venture with partner Bounty Oil and Gas NL (ASX: BUY). PEP-11 interests are:
Advent Energy 85 % / Bounty Oil and Gas 15%
On 17 January 2025 the PEP-11 Joint Venture was given notice by NOPTA that the Joint Authority has refused the Joint Venture Applications made on 23 January 2020 and 17 March 2021 and that the PEP-11 permit would continue in force for a period of 2 months from 17 January 2025 (the "Decision").
On 12 February 2025 BPH announced that Asset had applied to the Federal Court for an Originating Application (the "Application") for judicial review pursuant to s 5 of the Administrative Decisions (Judicial Review) Act 1977 (Cth) and s 39B of the Judiciary Act 1903 (Cth) to review the Decision. The Application seeks:
1. An order quashing or setting aside the Decision;
2. A declaration that the Decision is void and of no effect; and
3. An order remitting the First Application and Second Application to the Joint Authority for reconsideration according to law.
On 17 March 2025 the Federal Court made orders by consent further set out in the Company's March 2025 Quarterly Report .
The parties have complied with all programing orders and the matter is now listed for hearing on the 16th and 17th September 2025.
There were no further developments during the June 2025 quarter.
PEP-11 continues in force and the Joint Venture is in compliance with the contractual terms of PEP11 with respect to such matters as reporting, payment of rents and the various provisions of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth).
Cortical Dynamics Limited (Cortical) (BPH 16.4% direct interest)
Technical completion of Cortical's next-generation AI enhanced brain and pain monitoring BARM 2.0 is expected over the next months.
BARM 2.0 is the only solution that unifies hypnotic depth and pain response monitoring, combining EEG with AI in one system, giving clinicians real-time control over anesthesia, and hospitals a smarter, more scalable way to achieve better patient outcomes both during and after surgery.
Post technical completion BARM 2.0 clinical trials are scheduled in the USA and Netherland to be followed by submissions to regulatory authorities worldwide as soon as possible.
Cortical Dynamics was invited to showcase BARM 2.0 at the Australia Regulatory Device Summit 2025, that took place on the 17-18 July at ICC. In attendance were key stakeholders including the US FDA , Therapeutic Goods Administration (TGA) and international regulators from ANVISA (Brazil), HSA (Singapore), and PMDA (Japan). This was a unique chance for Cortical to connect directly with the regulatory community and major global players in medical technology.
Cortical has been selected to exhibit BARM 2.0 at the Medtech on the Hill at Parliament House event in Canberra 27-28 August 22025 organised by Medical Technology Association of Australia (MTAA). In attendance will be Ministers, MPs, Senators, and industry leaders for an evening networking event in Mural Hall, Parliament House. The Showcase brings together a dynamic crosssection of MTAA member companies across therapeutic areas -from Australian startups to global MedTech leaders-offering hands-on demonstrations through a curated patient journey from prevention to management, and the chance to connect directly with the people and companies driving healthcare innovation forward, as well as patients.
MTAA is the peak association representing companies in the medical technology industry. MTAA aims to ensure the benefits of modern, innovative and reliable medical technology are delivered effectively to provide better health outcomes to the Australian community.
Work continues on the development of CORDYAN(TM) which is Cortical Dynamic's new AI focussed predictive App initiative. Utilising proprietary state of the art AI and deep learning expertise Cortical Dynamics is developing game changing medical Apps that can be used in association with BARM 2.0 or standalone and /or be integrated into leading OEM healthcare systems and EMR (electronic medical records).
CORDYAN(TM)'s development has been facilitated by matched grants from MTPConnect, Australia's premier MedTech governmental organisation and ARM-hub a federal government initiative to accelerate AI related technologies in areas of strategic importance.
Clean Hydrogen Technologies (CHT) (BPH 16.2% direct interest)
As of mid-2024 CHT has developed its engineering and catalyst capabilities to a stage where it has proven consistently in its pilot plant in Nashik, India to produce its 2 products; turquoise hydrogen and a carbon composite made from majority CNT (carbon nanotubes) and CNF (carbon nanofibres), where its core process has not CO2 emissions and its feedstock is the hydrocarbons from natural gas . The next stage is to build production facilities in the USA and India, both being highly industrial markets with demand for CHT's products.
As such since mid-2024 CHT has been designing its production facility for India initially which will produce at the end of its Stage 1 build will produce 820 tonnes of hydrogen and 2,462 tonnes of carbon composite. CHT plans to sell it products to the many industrial users in the State of Maharashtra India, home of its planned production site, and likely Louisiana, USA, with several site options identified.
Before finalising production needs and CHT has been going through the ASME (required for operation in USA) and IS2825 (required for operation in India) review of its engineering designs where this process is almost complete.
CHT is now looking to source the funding required to build its plants in the USA and India where within 3-4 months of minimal funding of US$2.5m it will start producing income, initially in India and then the USA, its primary market.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/0072553O
Advent Energy Limited ("Advent") (BPH 35.8% direct interest) PEP-11 Permit
Advent Energy Limited's100% subsidiary Asset Energy Pty Ltd ("Asset") is a participant in the PEP11 Joint Venture with partner Bounty Oil and Gas NL (ASX: BUY). PEP-11 interests are:
Advent Energy 85 % / Bounty Oil and Gas 15%
On 17 January 2025 the PEP-11 Joint Venture was given notice by NOPTA that the Joint Authority has refused the Joint Venture Applications made on 23 January 2020 and 17 March 2021 and that the PEP-11 permit would continue in force for a period of 2 months from 17 January 2025 (the "Decision").
On 12 February 2025 BPH announced that Asset had applied to the Federal Court for an Originating Application (the "Application") for judicial review pursuant to s 5 of the Administrative Decisions (Judicial Review) Act 1977 (Cth) and s 39B of the Judiciary Act 1903 (Cth) to review the Decision. The Application seeks:
1. An order quashing or setting aside the Decision;
2. A declaration that the Decision is void and of no effect; and
3. An order remitting the First Application and Second Application to the Joint Authority for reconsideration according to law.
On 17 March 2025 the Federal Court made orders by consent further set out in the Company's March 2025 Quarterly Report .
The parties have complied with all programing orders and the matter is now listed for hearing on the 16th and 17th September 2025.
There were no further developments during the June 2025 quarter.
PEP-11 continues in force and the Joint Venture is in compliance with the contractual terms of PEP11 with respect to such matters as reporting, payment of rents and the various provisions of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth).
Cortical Dynamics Limited (Cortical) (BPH 16.4% direct interest)
Technical completion of Cortical's next-generation AI enhanced brain and pain monitoring BARM 2.0 is expected over the next months.
BARM 2.0 is the only solution that unifies hypnotic depth and pain response monitoring, combining EEG with AI in one system, giving clinicians real-time control over anesthesia, and hospitals a smarter, more scalable way to achieve better patient outcomes both during and after surgery.
Post technical completion BARM 2.0 clinical trials are scheduled in the USA and Netherland to be followed by submissions to regulatory authorities worldwide as soon as possible.
Cortical Dynamics was invited to showcase BARM 2.0 at the Australia Regulatory Device Summit 2025, that took place on the 17-18 July at ICC. In attendance were key stakeholders including the US FDA , Therapeutic Goods Administration (TGA) and international regulators from ANVISA (Brazil), HSA (Singapore), and PMDA (Japan). This was a unique chance for Cortical to connect directly with the regulatory community and major global players in medical technology.
Cortical has been selected to exhibit BARM 2.0 at the Medtech on the Hill at Parliament House event in Canberra 27-28 August 22025 organised by Medical Technology Association of Australia (MTAA). In attendance will be Ministers, MPs, Senators, and industry leaders for an evening networking event in Mural Hall, Parliament House. The Showcase brings together a dynamic crosssection of MTAA member companies across therapeutic areas -from Australian startups to global MedTech leaders-offering hands-on demonstrations through a curated patient journey from prevention to management, and the chance to connect directly with the people and companies driving healthcare innovation forward, as well as patients.
MTAA is the peak association representing companies in the medical technology industry. MTAA aims to ensure the benefits of modern, innovative and reliable medical technology are delivered effectively to provide better health outcomes to the Australian community.
Work continues on the development of CORDYAN(TM) which is Cortical Dynamic's new AI focussed predictive App initiative. Utilising proprietary state of the art AI and deep learning expertise Cortical Dynamics is developing game changing medical Apps that can be used in association with BARM 2.0 or standalone and /or be integrated into leading OEM healthcare systems and EMR (electronic medical records).
CORDYAN(TM)'s development has been facilitated by matched grants from MTPConnect, Australia's premier MedTech governmental organisation and ARM-hub a federal government initiative to accelerate AI related technologies in areas of strategic importance.
Clean Hydrogen Technologies (CHT) (BPH 16.2% direct interest)
As of mid-2024 CHT has developed its engineering and catalyst capabilities to a stage where it has proven consistently in its pilot plant in Nashik, India to produce its 2 products; turquoise hydrogen and a carbon composite made from majority CNT (carbon nanotubes) and CNF (carbon nanofibres), where its core process has not CO2 emissions and its feedstock is the hydrocarbons from natural gas . The next stage is to build production facilities in the USA and India, both being highly industrial markets with demand for CHT's products.
As such since mid-2024 CHT has been designing its production facility for India initially which will produce at the end of its Stage 1 build will produce 820 tonnes of hydrogen and 2,462 tonnes of carbon composite. CHT plans to sell it products to the many industrial users in the State of Maharashtra India, home of its planned production site, and likely Louisiana, USA, with several site options identified.
Before finalising production needs and CHT has been going through the ASME (required for operation in USA) and IS2825 (required for operation in India) review of its engineering designs where this process is almost complete.
CHT is now looking to source the funding required to build its plants in the USA and India where within 3-4 months of minimal funding of US$2.5m it will start producing income, initially in India and then the USA, its primary market.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/0072553O
About BPH Energy Limited:
BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.
The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.
BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.
BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).
Source:
BPH Energy Limited
Contact:
David Breeze
admin@bphenergy.com.au
www.bphenergy.com.au
T: +61 8 9328 8366
News Provided by ABN Newswire via QuoteMedia
