Projects
Helium Evolution holds North America’s largest helium land acreage among publicly-traded companies, concentrated in a historically helium rich area of Saskatchewan.
Our farmout with North American Helium (NAH) accelerates HEVI’s drilling through to 2024, with little capital required, and provides numerous value driving catalysts through 2023 and beyond. In addition, HEVI continues to leverage our skilled technical expertise to focus on internally generated helium resource opportunities, and future drilling prospects across our extensive, world-class land holdings.
Helium Evolution Advantages
- 5.6 million acres of permitted land
- Unique farmout with the industry leader, North American Helium Inc (NAH), including a strategic equity investment by NAH into HEVI
- NAH test drilling commenced in Q4/22 and continued into 2024, with farmout wells not requiring capital from HEVI
- First helium discovery in Q4/23 at Mankota
- Two subsequent discoveries in Q1/24 at Mankota
- Six to nine well drilling program planned at Mankota for 2H/24 to 1H/25
- Strategy for production & offtake
- Commitment to conservative execution and contingency planning
- Supportive regulatory jurisdiction and strong government relationships
- Working capital of $5.7 million at December 31, 2023
Massive untapped land position being developed by HEVI
- Eleven well targets have been drilled and tested to date; seven cased and four drilled & abandoned
- First helium discovery announced in Q4 2023 at 2-31 well (HEVI 20% working interest)
- Additional helium discoveries at 9-18 well and the 9-35 well announced in Q1 2024 (HEVI 20% working interest)
- Six to nine wells development drilling program planned with NAH for 2H 2024 to 1H 2025
- HEVI is reviewing ~2,000 km of seismic, which may result in additional prospective locations
Basal Cambrian Sandstone Structure
Radioactive decay of the uranium in Southern Saskatchewan’s basement rocks has produced significant helium reserves.
Up to 2.0%
PROVEN HELIUM CONTENT
Over 95%
HISTORIC NITROGEN CONTENT
Potential for continued development at Mankota
Development around Confirmed Discoveries:
- First helium discovery at 2-31 joint well (NAH 80% and HEVI 20%) confirmed in Q4 2023
- 0.95% helium concentration with steady rates and pressures
- Successfully stimulated in February 2024
- Deliverability increased to 4 MMscf/d (raw) with initial 3-day flow test
- Second helium discovery at 9-35 well (NAH 80% and HEVI 20%) confirmed in Q1 2024
- 0.64% helium concentrations with no reservoir pressure depletion or reservation boundaries revealed during testing
Completion & Testing:
- Stimulation of the 9-18 well anticipated in Q2 2024 (NAH 80% and HEVI 20%)
Next Steps:
- Six to nine well development drilling program anticipated for 2H 2024 to 1H 2025
