Helium Evolution Incorporated (TSXV:HEVI) ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to announce that its partner, North American Helium Inc. (“NAH”), has served the Company notice of its intention to drill a joint well in the Mankota area. This initiative is part of the previously announced development plan for up to nine wells in the Mankota area, as disclosed on April 2, 2024.
The joint well is expected to spud before the end of October 2024 and is located at 7-2-4-9W3M (the “7-2 Well”). HEVI is pleased to confirm its participation in the drilling of the 7-2 Well, with the Company holding a 20% working interest. The estimated total cost for HEVI’s share in the 7-2 Well is approximately $0.4 million net and is supported by HEVI’s strong working capital position, which totaled $4.7 million as of June 30, 2024.
"We are excited to announce the upcoming drilling of a joint well in the Mankota area, a significant step in our strategic development plan," said Greg Robb, President and CEO of HEVI. "Our partnership with NAH underscores our commitment to harnessing the potential of helium resources in southern Saskatchewan. With our solid financial foundation and collaborative approach, we are poised to make meaningful advancements in our exploration efforts, ultimately contributing to the growth of the helium industry in Canada."
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company’s website, which includes an updated corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive’ research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles, HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.