Helium Evolution Announces Filing of Q1-2024 Financial Results

Helium Evolution Announces Filing of Q1-2024 Financial Results

Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company's interim condensed financial statements and associated management's discussion and analysis for the three months ended March 31, 2024 (the " Q1 Report ").

Complete details of the Q1 Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI's website.

Three Months Ended March 31, 2024 Highlights:

Three months ended
Tabular amounts in thousands of
Canadian Dollars, except share and per share amounts
March 31, 2024 March 31, 2023
Financial
Net loss 239 311
Net loss per share, basic and diluted 0.00 0.00
Cash 5,304 8,229
Working capital 4,992 9,226
Total assets 11,293 13,094
Total liabilities 668 356
Weighted average shares outstanding
Basic and diluted 1 96,033,974 96,033,974

1 The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive.

During the three months ended March 31, 2024, HEVI continued to execute on its focused strategy of developing the Company's 5.6 million acres of helium rights in southern Saskatchewan. With three recent helium discoveries and a six to nine well drilling program as announced on April 2, 2024, HEVI has made considerable progress on its ultimate goal of producing and selling helium, generating cash flow and driving positive returns for shareholders. HEVI has remained committed to maintaining ongoing financial flexibility, demonstrated by a positive working capital position of $5.0 million at March 31, 2024, excluding $0.8 million of tubing and casing that was pre-purchased and not utilized.

HEVI wishes to thank all shareholders and stakeholders for their continued support and as always, HEVI is committed to updating the market on significant events and developments as information becomes available.

Stay Connected to Helium Evolution

Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website, which includes the Company's current corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles, HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.

About Helium Evolution Incorporated

Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly traded companies, focused on developing assets in southern Saskatchewan. The Company has 5.6 million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.

For further information, please contact:

Greg Robb, President & CEO Phone: 1-587-330-2459
Kristi Kunec, CFO Email: info@heliumevolution.ca
Web: https://www.heliumevolution.ca
Cindy Gray, Investor Relations info@5qir.com | 1-403-705-5076

Statement   Regarding   Forward-Looking   Information

This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments   in   the   industry   to   differ   materially   from   the   anticipated   results,   performance   or   achievements   expressed   or   implied by   such   forward-looking   statements.   Forward   looking   statements   are   statements   that   are   not   historical   facts   and   are   generally, but   not   always,   identified by   the words   "expects,"   "plans,"   "anticipates,"   "believes,"   "intends,"   "estimates,"   "projects,"   "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward-looking statements in this document include statements regarding the Company's expectations regarding the Company's   ultimate   goal   of   producing   and   selling   helium,   generating   cash   flow   and   driving   positive   returns   for   shareholders,   the Company's expectations regarding scalable helium production from its land generally,   the Company's expectations regarding recoverability   of   helium   and   development   of   the   three   recent   helium   discoveries, the Company's   ability to preserve capital,   the drilling ,timeline for and success of any future drills, and other statements that are not historical facts. By their nature, forward-looking   statements   involve   known   and   unknown   risks,   uncertainties   and   other   factors   which   may   cause   actual   results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.   Such factors and risks include, among others: the Company   and/or   its   partner   may   be   unsuccessful   in   drilling   commercially   productive   wells;   the   Company   and/or   its   partner   may choose   to   defer,   accelerate   or   abandon   its   drilling   plans;   the   Company   and/or   its   partner   may   determine   not   to   bring   wells   onto production; new laws or regulations and/or unforeseen events could adversely affect the Company's business and results of operations;   stock   markets   have   experienced   volatility   that   often   has   been   unrelated   to   the   performance   of   companies   and   such volatility may adversely affect the price of the Company's securities regardless of its operating performance; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses;   constraint in the   availability of services;   commodity price   and   exchange   rate fluctuations; adverse weather   or   break- up   conditions;   and   uncertainties   resulting   from   potential   delays   or   changes   in   plans   with   respect   to   exploration   or   development projects or capital expenditures.

When   relying   on   forward-looking   statements   and   information   to   make   decisions,   investors   and   others   should   carefully   consider the foregoing factors and   risks,   other uncertainties and potential events.   The Company has assumed that the material factors referred   to   in   the   previous   paragraphs   will   not   cause   such   forward-looking   statements   and   information   to   differ   materially   from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue   reliance   on   any   forward-looking   information.   Such   information,   although   considered   reasonable   by   management   at   the time   of   preparation,   may   prove   to   be   incorrect   and   actual   results   may   differ   materially   from   those   anticipated.   Forward-looking statements   contained   in   this   press   release   are   expressly   qualified   by   this   cautionary   statement.   The   forward-looking   statements contained in this press release are made as of the date of this press release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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 release.


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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:

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Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
YouTube - https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w

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.

Abbreviations:

boepd

=

barrels of oil equivalent ("boe") per day

bopd

=

barrels of oil and/or natural gas liquids (condensate) per day

Mcf

=

thousand cubic feet

Mcfpd

=

thousand cubic feet per day

MMcfpd

=

million cubic feet per day

NGLs

=

natural gas liquids

Q1 2025

=

three months ended March 31, 2025

Q4 2024

=

three months ended December 31, 2024

BOE Disclosure . The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

SOURCE Alvopetro Energy Ltd.

Cision View original content: http://www.newswire.ca/en/releases/archive/April2025/03/c2450.html

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