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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
Investor Insight
First Helium’s scalable development strategy, differentiated by a multi-commodity approach and supported by a well-defined project roadmap, positions it as a potential leader in helium production within North America.
Overview
First Helium (TSXV:HELI,OTCQB:FHELF,FRA:2MC) is a Canadian company focusing on exploring and developing helium resources in Alberta, Canada. The company’s primary asset is the Worsley project, which spans 53,000 acres and includes both 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 is poised for substantial growth in the coming years, with the scalability of the Worsley project providing a path to significant increases in production and revenue. The company has set ambitious financial goals, targeting 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.
Helium, a critical and scarce resource, is indispensable in various high-tech industries, including semiconductor manufacturing, artificial intelligence, space exploration, defense and healthcare. Helium's demand is projected to grow 300 percent by 2030, driven by its irreplaceable role in industries that require precision, cooling and inert properties. Major companies like Google, Amazon, SpaceX, NVIDIA and Intel rely on helium for their operations. The global helium market, valued at $3.94 billion in 2021, is expected to grow to $13.26 billion by 2030.
However, the supply of helium is under pressure due to geopolitical uncertainties and production limitations from major global suppliers, including Qatar, Algeria and Russia. Additionally, the US, currently the largest producer of helium, is expected to become a net importer within the next three to five years. This shift opens significant opportunities for Canada, which is the fifth-largest global resource of helium but contributes less than 2 percent of the world’s annual production. The Canadian government has also classified helium as a critical mineral, underscoring its strategic importance in the transition to a sustainable future.
This global dynamic is creating opportunities for helium explorers such as First Helium to leverage a growing market. Led by an experienced management and technical team with successful track records in the oil and gas, mining and energy sectors, First Helium is well-placed for significant growth.
First Helium’s long-term vision is to establish a regional helium-enriched natural gas and oil play in Alberta, with the Worsley project serving as a template for future developments. The company is actively evaluating potential partnerships and acquisition opportunities to accelerate the development of its assets and capitalize on the growing demand for helium across North America and globally.
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Advanced stage, high-value oil, and helium-enriched natural gas project in Alberta, Canada
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.
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Alvopetro Announces Q3 2025 Dividend of US$0.10 Per Share
Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces that our Board of Directors has declared a quarterly dividend of US$0.10 per common share, payable in cash on October 15, 2025 to shareholders of record at the close of business on September 30, 2025 . This dividend is designated as an "eligible dividend" for Canadian income tax purposes.
Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%. Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada. For further information, see Alvopetro's website at https://alvopetro.com/Dividends-Non-resident-Shareholders .
Corporate Presentation
Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .
Social Media
Follow Alvopetro on our social media channels at the following links:
X - https://x.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro's organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
Forward-Looking Statements and Cautionary Language
This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expect", "intend", "plan", "may", "believe", "estimate", "forecast", "anticipate", "should" and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking information concerning the Company's dividends, plans for dividends in the future, the timing and amount of such dividends and the expected tax treatment thereof. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe 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 we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro's SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Alvopetro Energy Ltd.
View original content: http://www.newswire.ca/en/releases/archive/September2025/15/c3517.html
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Insider Loan to Corporation
VVC Exploration Corporation, dba VVC Resources, ("VVC"), (TSX-V:VVC and OTCQC:VVCVF) announces the following events.
Loan from Chairman
VVC's Chairman of the Board, Terrence Martell Ph.D. (the "Lender"), has provided a US$700,000 loan (the "Loan") to VVC's subsidiary, Plateau Helium Corp., for use in operating and developing its Helium/PNG assets in Kansas, USA. The Loan, secured by a Promissory Note, is payable on demand and bears no interest. The Loan contains a conversion option whereby, at the sole option and discretion of the Lender, all or any portion of the outstanding principal amount can be settled with up to 230,000 shares of Cyber App Solutions (CRYB) at a price of US$3.09 per share.
Director Resignation
Mr. Steven Looper has resigned as a director of the Company for personal reasons and his resignation was accepted by the Board with regret. VVC would like to thank Mr. Looper, who served the Company as director since September 2023. Jim Cuver, VVC CEO commented, that « VVC regrets Steve's decision to leave the Board of Directors, but we understand the pressure for him to do so as he drives Proton Green to become a major player in both the helium and beverage CO 2 production. Steve, we wish you all the best and stand ready to help you in any way we can. » No replacement director has yet been appointed. The vacancy will most likely be filled in the months to come or at the next shareholders' meeting before the end of the year.
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com .
| On behalf of the Board of Directors | ||
| Michel J. Lafrance, Secretary-Treasurer | ||
| For further information, please contact: | For further information in French, please contact | |
| Emily Bigelow - (615) 504-4621 | Patrick Fernet - (514) 631-2727 | |
| E-mail: emily@vvcresources.com | or | E-mail: pfernet@vvcexploration.com |
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.
2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E7 – Tel: 416-619-5304
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CORRECTED: CHARBONE Hydrogen is Acquiring Hydrogen Production Assets and Closing a First Tranche of $1M Private Placement Financing
(TheNewswire)
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Brossard, Quebec TheNewswire - September 5, 2025 Charbone Hydrogen Corporation (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE "), a company focused on green hydrogen production and distribution, is pleased to announce it has signed, on September 4, 2025, an Asset Purchase Agreement to acquire operational hydrogen production and refuelling equipment in Quebec. The strategic acquisition will enable CHARBONE to fast-track the commissioning of CHARBONE's flagship Sorel-Tracy facility phase 1 and empower CHARBONE to produce and deliver first industrial high purity hydrogen (UHP) sales in the upcoming quarter.
The equipment, currently in use will be dismantled, repurposed and relocated to Sorel-Tracy .
This transaction follows CHARBONE's signing of a non-dilutive USD 50 million construction capital facility announced on May 1 and June 4, 2025. While this facility is earmarked for broader project financing rather than this equipment purchase, it demonstrates CHARBONE's strengthened capital position and ability to scale up its overall development plan.
Key Investor Highlights
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Accelerated Timeline : Repurposing proven operating equipment reduces installation costs of new equipment — enabling production by early Q4 2025
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Selection Process : CHARBONE has been selected as the buyer of the equipment as the seller has accepted $1M in CHARBONE stock as part of a portion of the purchase price at an issue price equal to the market price of CHARBONE's shares on the TSX Venture Exchange on the effective date plus a cash balance payable in 3 tranches payment , with one-third payment on the effective date and the remaining paid over two years — preserving cash for growth.
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Operational Progress : Grid connection is completed; Hydro-Québec installed the energy meter on July 22, and completed the interconnection on August 13, while the Town of Sorel-Tracy completed the water connection to its main system, providing the site with the two elements needed for hydrogen production.
Private Placement Details
Additionally, CHARBONE is pleased to announce the sequential closings of its $1M non-brokered private placement (the "Equity Offering"). The Company has already secured $0.5 million to accelerate the completion of its flagship green hydrogen production facility in Sorel-Tracy, Quebec.
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The initial tranche involved the issuance of 7,699,666 units. A second tranche for the remaining $0.5M is expected to close by October 15, 2025.
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The proceeds from the Equity Offering will be primarily allocated to the Company's purchase of the operating hydrogen equipment, re-installation at the Sorel-Tracy site, and infrastructure development, and general working capital requirements.
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Each of the units offered (each a Unit "), priced at $0.06 per Unit, included one common share of the Company (each, a " Unit Share ") and one common share purchase warrant (each, a " Warrant "). Each Warrant gives the holder the right to buy one additional common share of the Company at an exercise price of $ 0.08 for 24 months after the closing date of the Offering (the Closing Date "). At the Closing Date, the Company paid a finder's fee of $17,222 and issued 287,040 finder's warrants to registered dealers related to the sale of certain Units to qualified subscribers introduced by such dealers. The Units were offered under the "accredited investor" exemptions of National Instrument 45-106 – Prospectus Exemptions (in Québec, Regulation 45-106 – Prospectus Exemptions ). However, the Company reserves the right to decline subscription amounts below $5,000 (83,333 Units) to avoid excessive administrative costs.
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The closing of the Equity Offering remains subject to the approval of the TSX Venture Exchange and other customary closing conditions. The Company may close a second tranche in the coming days, but no later than October 15, 2025. All securities issued under the Offering are subject to a statutory four-month and one-day hold period in Canada following the Closing Date
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This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation, or sale would be unlawful, including in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 1933 Act ") or any applicable state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and relevant state laws, or if an exemption from registration is available
CEO Comment
"Investors have waited for Sorel-Tracy to move from development to revenue," said Dave Gagnon, President and CEO of CHARBONE. "By repurposing proven equipment — at a lower cost of a new build — and structuring the deal to preserve cash, we're entering execution mode with strong capital backing and minimal dilution. He continues; This acquisition positions us to deliver green and high purity hydrogen (UHP) to our industrial customers quicker, and with best-in-class operating equipment. "
Why This Matters
This acquisition signals a turning point for CHARBONE: after years of development, the company is positioned to deliver its first hydrogen revenues, leverage non-dilutive capital to scale, and capture early-mover advantages in the North American green hydrogen market.
About Charbone Hydrogen CORPORATION
CHARBONE is an integrated company specialized in Ultra High Purity (UHP) hydrogen and the strategic distribution of industrial gases in North America and the Asia-Pacific region. It is developing a modular network of green hydrogen production while partnering with industry players to supply helium and other specialty gases without the need to build costly new plants. This disciplined strategy diversifies revenue streams, reduces risks, and increases flexibility. The CHARBONE group is publicly listed in North America and Europe on the TSX Venture Exchange (TSXV: CH,OTC:CHHYF), the OTC Markets (OTCQB: CHHYF), and the Frankfurt Stock Exchange (FSE: K47). For more information, visit www.charbone.com .
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
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 .
| Contact Charbone Hydrogen Corporation | |
| Telephone: +1 450 678 7171 | |
| Email: ir@charbone.com Benoit Veilleux CFO and Corporate Secretary | |
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