Australia is on the verge of an energy crisis. Inaction by the Australian government on gas and energy security has resulted in a gas market that is very nearly running on empty, with extreme price hikes and the possibility of significant losses in employment and capital. Against the backdrop of a global clean energy transition, natural gas represents a critical fuel for this transition. The switch to renewable energy cannot occur overnight, and natural gas offers an avenue for a gradual transition.
Natural gas represents a low-carbon, low-emission alternative to traditional energy sources, and could even be leveraged for sustainable energy.
BPH Energy (ASX:BPH) intends to do precisely that. An investment company headquartered in Western Australia, BPH has already invested in two highly promising businesses in the energy sector. The first, Advent Energy, is an unlisted oil and gas exploration and production company.
The second, Clean Hydrogen Technologies, has developed a CO2-free method of processing gas into hydrogen and conductive carbon.
BPH has a diversified portfolio with an investment in medical technology company Cortical Dynamics, providing yet another avenue for potential growth.
In February 2024, BPH Energy raised a further AU$2.25 million to execute its next phase of hydrocarbon and Cortical Dynamics funding.
An unlisted oil and gas exploration company based in Western Australia, Advent maintains two major assets. The offshore Petroleum Export Permit 11 (PEP11) represents its most compelling asset. Jointly owned by Advent subsidiary Asset Energy (85 percent) and Bounty Oil & Gas NL,(15 percent) the exploration area covers 4,649 square kilometers.
PEP11's estimated prospective recoverable gas resources is 5.7 trillion cubic feet. With this resource alone, BPH and Advent could potentially fulfill the energy needs of most of Victoria and New South Wales for the next several decades. Advent is in the process of applying to the National Offshore Petroleum Titles Administrator (NOPTA) to enable drilling, and recently succeeded in a Federal Court Appeal.
Advent also holds Retention Lease 1, an onshore permit in the Bonaparte Basin.
Based in the United States, Clean Hydrogen Technologies (CHT) leverages its unique catalysts alongside a bespoke engineering process to generate clean hydrogen and conductive carbon from natural gas. The technology uses a process called thermo-catalytic pyrolysis, which combines heat, and a catalyst and has no oxygen. Importantly the process produces no CO2 emission. CHT is currently in the process of commercialization, announcing in February 2024 that it has moved from proof-of-concept to production.
Cortical Dynamics is an Australian neurotechnology developer and medical device manufacturer focused on developing the next generation brain function monitors by employing the latest theories and technologies in the field.
Headquartered in Perth, Western Australia, Cortical Dynamics is focused on commercializing its core product, the Brain Anaesthesia Response Monitor System (BARM), which was developed with the objective of better detecting the effect of anesthetic and analgesic agents on human brain activity. BARM aids anesthetists in keeping patients optimally anesthetized and pain-free during operations using general anesthesia.
BARM was specifically developed to solve several problems associated with anesthetic and analgesic delivery in the operating theater and negative post-operative consequences. Its proprietary algorithms are based on innovative developments in understanding how the brain's rhythmic electrical activity or EEG is produced.
David Breeze is a corporate finance specialist with extensive experience in the stock broking industry and capital markets. He has been a corporate consultant to Daiwa Securities, manager of corporate services for Eyres Reed McIntosh, and state manager and associate director for the stock broking firm BNZ Norths. Breeze is a fellow of the Institute of Company Directors of Australia. He has published in the Journal of Securities Institute of Australia and has also acted as independent expert under the Corporations Act. He has worked on the structuring, capital raising and public listing of more than 70 companies involving more than $300 million, covering a range of areas including oil and gas, gold, food, manufacturing and technology. Breeze is chairman of Grandbridge Limited, a public investment and advisory company and MEC Resources, a public company investing in exploration companies that target potentially large energy and mineral resources. He is also chairman of Advent Energy.
Tony Huston has been involved for over 35 years in engineering and hydrocarbon industries for both on and offshore exploration/development. His early career experience commenced with Fitzroy Engineering, primarily working on the development of onshore oil fields. In 1996, Huston formed his own E&P company on re-entry of onshore wells primarily targeting shallow pay that had been passed or ignored from previous operations. This was successful and the two plays opened up 15 years ago and are still in operation. His focus over the last 10 years has been to utilize new technology for enhanced resource recovery, which has been demonstrated in various fields, including US, Mexico, Oman, Italy and Turkmenistan.
Charles Maling was formerly the communications officer for the Office of the Western Australian State Government Environmental Protection Authority, advising the chairman of the EPA on media issues. Maling has worked with the Western Australian State Government Department of the Environment for 14 years and a further eight years for the EPA. His administrative roles included environmental research (including a major study on Perth Metropolitan coastal waters and Western Australian estuaries) environmental regulation and enforcement, and media management.
Dr. Sunil Belur Nagaraj obtained his master’s degree from the University of Victoria in Canada in 2010; and doctoral degree from University College Cork, Ireland in 2015. His doctoral research centered around the development of AI-based real-time brain monitoring, utilising EEG recordings to monitor brain activity. After a role as a postdoctoral fellow at the Harvard Medical School/Massachusetts General Hospital in the USA. Nagaraj assumed the position of an assistant professor of medicine at the University Medical Centre Groningen in The Netherlands for two years. Concurrently, he dedicated three years to working as a scientist at Royal Philips, where he specialised in sleep disorders at the Innovation Forum, highlighting its potential to provide future insights into heart-brain connectivity.
Throughout his career, Nagaraj has demonstrated exceptional research acumen, with a patent and 21 high-impact journal articles to his name, amassing over 650 pioneering research papers and has been recognised through several national and international grants, enabling him to conduct cutting-edge studies that contribute significantly to the advancement of medical technology.
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 annual financial statements and associated management's discussion and analysis for the year ended December 31, 2023 (the " Annual Report ").
Complete details of the Annual Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI's website .
Three Months and Year Ended December 31, 2023 Highlights:
| Three months ended | Year ended | |||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts | December 31, 2023 | December 31, 2022 | December 31, 2023 | December 31, 2022 |
| Financial | ||||
| Net loss | 1,719 | 520 | 2,953 | 7,363 |
| Net loss per share, basic and diluted | 0.02 | 0.01 | 0.03 | 0.09 |
| Cash | 6,330 | 9,128 | 6,330 | 9,128 |
| Working capital | 5,743 | 10,236 | 5,743 | 10,236 |
| Total assets | 11,639 | 13,022 | 11,639 | 13,022 |
| Total liabilities | 872 | 226 | 872 | 226 |
| Weighted average shares outstanding | 96,033,974 | 96,033,974 | ||
| Basic and diluted 1 | 96,033,974 | 78,397,100 | ||
| 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 year ended December 31, 2023, HEVI continued to execute on its focused strategy of developing the Company's 5.6 million acres of helium rights in southern Saskatchewan and advancing 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 $5.7 million at December 31, 2023, excluding $0.8 million of tubing and casing that was pre-purchased and not utilized.
Operations Update
Looking forward to the remainder of 2024 and into 2025 and as announced on April 2, 2024 , the Company is strategically planning to embark upon a drilling program in the Mankota area of Saskatchewan with its partner, North American Helium Inc. (" NAH "), building upon three existing helium discoveries in the region. HEVI and NAH are planning to drill up to nine joint development wells (the " New Wells ") which are expected to spud between Q3 2024 and Q2 2025, subject to surface and environmental restrictions. With HEVI's 20% working interest in the New Wells, the Company is positioned to capitalize on this strategic expansion.
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 Kristi Kunec, CFO | Phone: 1-587-330-2459 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 and/or NAH's exploration and drilling plans including the New Wells, the Company's expectations regarding scalable helium production from its land generally , the Company's expectations regarding recoverability of helium, the Company and/or NAH's ability to identify future exploration and drilling targets, the Company's ability to capitalize upon the New Wells, increasing shareholder value, the Company's ability to preserve capital, the drilling timeline for and success of any future Company and/or NAH 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 may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its drilling plans, including the New Wells; the Company and/or NAH 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.
News Provided by GlobeNewswire via QuoteMedia
Highlights
Figure 1 – Bonito prospect showing Top Zorritos reservoir contour and 76km2 trap closure
Technical Evaluation Agreement (TEA) LXXXVI - Offshore Oil and Gas Block (GLV 80% Working Interest)
During the March 2024 quarter, Global and US-based joint venture partner Jaguar Exploration Limited (Jaguar), continued the evaluation of their 4,585km2 Technical Evaluation Agreement (TEA or block) offshore Peru.
The block comprises over 3,800km2 of existing 3D seismic data and more than 7,000 line kilometres of 2D seismic. An aggregate of 1,000km2 of 3D seismic was selected during the quarter to undergo reprocessing and interpretation across three discrete highly prospective areas. Reprocessing will include pre-stack depth migration (PSDM) work across each of the three areas (Figure 2).
Figure 2 – Areas undergoing detailed seismic reprocessing and interpretation
The areas were selected following a review of the seismic data and other historical reports and information related to the TEA. Global identified more than twenty prospects and leads as detailed in the ASX release on 23 January 2024 of which three large scale oil and gas prospects, Bonito, Raya and Volador and one already discovered gas field, Piedra Redonda have been prioritised.
Piedra Redonda Gas Field
As part of the Company’s review of the Tumbes Basin, to identify areas in the TEA for additional studies including seismic repreocessing, the Piedra Redonda gas field, discovered in 1978 by the C-18X well, was reviewed.
The review of the Piedra Redonda gas field including a historical assesment contingent and prospective resource is detailed in the ASX release on 18 March 2024.
Click here for the full ASX Release
This article includes content from Global Oil & Gas Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
HIGHLIGHTS
Global leader in stimulation services Halliburton yesterday commenced the multi-stage stimulation program at Daydream-2, with a total of 16,000 hydraulic horse power of equipment now in use.
Halliburton fleet arriving on site
This program will have six separate stages, targeting two coal zones, three tight gas zones and the Lorelle Sandstone. Flow testing will follow immediately thereafter – with a view to measuring flows from individual zones as well as in totality. Such measurements will be key inputs into a revised resource assessment, which will follow the flow testing.
Elixir’s Managing Director, Mr Neil Young, said: “We are pleased to announce that the next phase of our Daydream-2 work program has now commenced following the mobilization of extensive Halliburton kit to the site. Flow testing of our six separate target zones will follow shortly thereafter. The multiple objectives of this so far very successful appraisal program will now come to fruition in only a few weeks – we await this with bated breath.”
Click here for the full ASX Release
This article includes content from Elixir Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Source Rock Royalties (TSXV:SRR) focuses on oil & gas royalties in the provinces of Alberta and Saskatchewan. The company's portfolio comprises various gross overriding royalty interests in southeast Saskatchewan and a gross overriding royalty in largely contiguous Clearwater interests in Central Alberta. Source Rock Royalties offers investors low-risk and low-capital-cost exposure to the oil & gas sector with a royalty business model that shares in production revenue without exposure to the capital costs associated with drilling, development, maintenance, abandonment, environmental and other obligations.
Source Rock acquired new royalties worth nearly C$13 million in 2023 and a total of C$16.5 million since its IPO in March 2022 effectively doubling the company's royalty acreage. The acquisitions further enhanced its current royalty production and exposure to potential undeveloped drill locations. Source Rock generated C$6.6 million in royalty revenue in 2023, the highest in its 11-year history.
The majority of Source Rock's royalties are derived from top-line revenue, resulting in minimal exposure to deductions linked to production costs from wellbores and the sale of various commodities. Also, the majority of its current royalty payors are financially stable and possess robust capabilities to efficiently operate and enhance the value of the lands in which Source Rock holds royalties. Some of the key royalty payors include Whitecap Resources (TSX:WCP), Rubellite Energy (TSX:RBY), Surge Energy (TSX:SGY), Crescent Point Energy (TSX:CPG) and Anova Resources (Private), among many others.
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