VANCOUVER, BC, May 16, 2023 /CNW/ - Total Helium Ltd. (TSXV: TOH), (OTCQB: TTLHF) ("Total Helium" or the "Company") provides an operational update on its Pinta South Project.
Pipeline Construction Underway, Wells Hooked to Processing Facility
As part of Total Helium's acquisition of the Pinta South Project in Arizona, Total Helium acquired a 20% working interest in 2 producing wells and a 50% working interest in 27,000 acres which includes 8 additional wells that are awaiting connection to the helium processing facility. Total Helium has constructed a six mile pipeline and has connected 5 of those 8 wells to the helium processing facility.
3 Additional Wells Drilled
In addition to the 10 wells that Total Helium initially acquired, in the last two weeks an additional 3 wells have now been drilled and are awaiting completion.
Initial Soil Gas Survey Completed, Follow Up Study Underway
An effort is underway to optimize drilling locations by conducting an additional helium soil sample survey. Previous surveys have shown promising results that indicated the presence of several anomalies to help delineation of sand channels/river systems. Although Total Helium's drilling program anticipates most wells will be drilled and completed within the blanket Shinarump formations, "sand channel" wells are expected to enhance production rates. 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. As warmer, dryer weather has arrived in Arizona, Total Helium and its joint venture partner have begun the helium soil sampling survey to identify these channel systems. The soil gas survey will run from mid-May through early June 2023.
"The fact that we hit the ground running on our joint venture in Arizona is a sign of things to come as we enter a new chapter in Total Helium's evolution. We appreciate the efforts of our joint venture partners as we work together to drill new wells, install pipeline, and bring helium to a market that desperately needs it," said Robert B. Price, Director and CEO of Total Helium.
Total Helium is a helium exploration and production company with a mission to ensure that there is 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 5-8% helium concentrations. Total Helium is 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
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