- Imperial Helium (IHC) has announced that field operations have begun in order to complete and evaluate the commercial viability of promising zones at the Steveville Helium Property in Alberta
- The first appraisal well, IHC-Steveville-1, reached a total depth of 2,167.46 m and penetrated the crest of the structure as expected
- Preliminary petrophysical analysis of well-logs also confirmed the presence of a 152-metre section of the Beavervill Lake Formation
- The production testing program is intended to assess helium concentration, gas composition, reservoir quality and the potential for production rates from multiple zonies
- Shares of Imperial Helium are up 1.47 per cent to C$0.34 at market close
Imperial Helium (IHC) has commenced field operations at its Steveville Helium property to evaluate the viability of promising zones at the project.
In a press release, the company said that the first appraisal well, IHC-Steveville-1, reached a total depth of 2,167.46 metres and penetrated the crest of the structure, as expected.
Imperial Helium also said that the depth and thickness of the gas saturated intervals calculated from logs are in line with pre-drill estimates and remain consistent with those identified in Steveville Blowout and four other wells that penetrate the Steveville structure.
The program is intended to assess overall helium concentration, gas composition, reservoir quality and the potential for production rates from various zones.
“The production tests are our first appraisal of the Steveville structure and are anticipated to contribute toward validation of the structure’s resource potential,” Dave Johnson, director and CEO of Imperial Helium, said in a release. “An independent resource assessment will be conducted upon completion of the production testing of both IHC-Steveville-1 and IHC-Steveville-2. We remain on schedule with our plan to complete the independent resource assessment during the fourth quarter of 2021.”
Located 200 kilometres east of Calgary and 40 kilometres northeast of Brooks, the company’s Steveville property sits on a large dome feature with a four way closure.
The property also includes lands leased from Heritage Resource Corporation spanning 24,635 hectares with rights for natural gas, including helium, below the base of the Big Valley and Nisku formations.
Shares of Imperial Helium are up 1.47 per cent to C$0.34 at market close.