- Global Helium (HECO) has acquired more than 15 contiguous sections of previously tested and proven helium property in the Rudyard area of Montana
- Two pre-existing wells on the property tested extremely favourably for both helium content and overall flow rates
- The most recently drilled well indicated a strong reservoir and the potential for higher absolute overall rates
- Global Helium is a helium exploration and development company
- Global Helium Corp. (HECO) is trading at C$0.52 per share
Global Helium (HECO) has acquired more than 15 contiguous sections of previously tested and proven helium property in the Rudyard area of Montana.
This second US acquisition is on a well-known, helium-proven structure, which has previously produced and tested 1.3 per cent helium at significant flow rates.
Two pre-existing wells on the property tested extremely favourably for both helium content and overall flow rates. The most recently drilled well was completed by a private company in 2012 and indicated a strong reservoir and the potential for higher absolute overall rates.
Jesse Griffith, President of Global Helium called the Rudyard acquisition a monumental step forward for the company, as it provides an immediate pathway to thrust Global into a helium producing, cash-flowing company.
“The acquisition also brings an additional core area into the Global portfolio that has been substantially de-risked and is already set for expansion through the option agreement. We now have multiple assets with proven helium production and, when we combine those with the scale and potential of our Saskatchewan land base, the future cash flow and massive expandability continues to excite our team and shareholders.”
Griffith added, “I am very happy to see the Global team continuing to meet or exceed the corporate development plans that were communicated previously. Communicating our plans, setting expectations, and exceeding those expectations is a core focus for the Global team and is something we will continue to do going forward.”
Used for manufacturing of semiconductor chips, chromatography and semiconductor processing, lab research, MRIs, a shielding gas in welding, a cooling gas for fiber optics, gas chromatography, and mass spectrometry, demand for helium continues to increase, while security of supply is increasingly under pressure.
Global Helium is a helium exploration and development company, focused on the exploration, acquisition, development, and production of helium to meet increasing needs in North America and around the world.
Global Helium Corp. (HECO) is trading at C$0.52 per share.