VANCOUVER, BC, June 26,
2023 /CNW/ - Total Helium Ltd. (TSXV: TOH)
(OTCQB: TTLHF) (FRA: Y02.F) ("Total Helium" or the "Company") is
pleased to provide a follow-up operational update on its Pinta
South Project in the Holbrook
Basin of Arizona.
Following the successful construction of a six-mile pipeline and
connection of five wells to the helium processing facility, as
reported last month, Total Helium announces significant
advancements in well production, pipeline, and future wells.
First 15 Wells
The Pinta South Project now features a total of 15 wells, with
seven wells actively producing helium. The remaining eight wells
are in various stages of completion, and once connected to the
pipeline, will significantly increase Total Helium's helium
production capacity, thereby generating increased revenue.
Out of these 15 wells, Total Helium retains a 20% working
interest in two wells and a 50% working interest in the remainder,
including the five additional wells now actively producing helium.
Importantly, Total Helium has partnered with a leading
multinational industrial gas and chemicals manufacturing company to
fund the pipeline expansion on the Pinta South project.
(See photos of wells and drilling operations)
Pipeline Updates
Total Helium has established a compressor station and a 6-mile
underground pipeline to connect the new wells to the helium
processing facility. The compressor station will ensure adequate
pressure for higher helium flow rates to the processing plant.
Further updates regarding flow rates will be provided as production
stabilizes.
(See photos of pipeline installation)
Soil Sample and Next
Wells
Although the shallow Shinarump formation is the primary target
within the field, the Company is also targeting high impact sand
channels and deeper formations wells at minimal additional costs.
If successful, these wells are expected to significantly enhance
production rates. For reference, the 20% owned two producing wells
are "sand channel" wells and have produced 243,700 MCF (28-1 NS
Well) and 179,000 MCF (27-1 NS Well) with 8% helium over the past
three years.
A comprehensive soil gas survey has been completed to detect
areas within the field with elevated helium levels, indicative of
the presence of these sand channels and deeper formations that may
have significant upside potential. This survey has enabled Total
Helium to optimize future drilling locations.
(See photos of soil gas sampling)
A drilling rig is currently on site and prepared to drill the
next 3 Shinarump wells, pending permitting which is expected within
the next week. Of the next 3 wells, 2 will be drilled deeper to
evaluate the soil sample anomalies with elevated helium
concentrations. While the cost to drill deeper is minimal, there is
higher upside potential.
CEO of Total Helium, Robert
Price, stated, "These achievements are noteworthy, marking
the first time Total Helium has successfully brought wells online
post-acquisition of the Pinta South Project. Total Helium
congratulates its team members and its partners for bringing these
wells online in a timely manner consistent with its goal of
developing the Pinta South field quickly, efficiently and cost
effectively."
Total Helium is a helium production company with a mission to
bring a stable supply of domestically produced helium to support
the many high tech industries that rely on this important element.
The Company's main footprint includes helium producing assets in
the prolific Holbrook Basin of
Arizona, where its wells produce
at 5-8% helium concentrations. Total Helium is contributing to
meeting domestic industrial demand for helium with one of the
greenest supplies of helium available on the market.
On behalf of the Board,
Robert B. Price, Director and
CEO
Total Helium Ltd. - www.totalhelium.com
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.
Statements included in this announcement, including
statements concerning our plans, intentions and expectations, which
are not historical in nature are intended to be, and are hereby
identified as, "forward-looking statements". Forward-looking
statements may be identified by words including "anticipates",
"believes", "intends", "estimates", "expects" and similar
expressions. The Company cautions readers that forward-looking
statements, including without limitation those relating to the
Company's future operations and business prospects, are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those indicated in the forward-looking
statements.
SOURCE Total Helium Ltd
