Back

Imperial Helium Corp is pleased to announce a definitive agreement to lease >1BCF potential acreage

November 9, 2020  |   by   Imperial Helium 
Announcements

Imperial Helium Corp. is excited to announce the Company has secured a significant founding asset, with the potential for >1 Billion cubic feet of Helium. The asset, located in Alberta, Canada and is a historic discovery that has tested gas from numerous well locations and a noted helium content of >0.6%.

David Johnson, CEO, noted, “This asset is an outstanding foundational asset that is the culmination of the efforts of our technical team to prove our investment thesis and find an asset with which the Company can build. Our preliminary economic models show compelling cash flow expectations from both two-well project and full-field corporate models, in turn confirming outstanding Net Present Values and Internal Rate of Returns. Our management and executive team are excited by the lease and are focused on both the strategy to develop this asset and acquire further assets within the Western Canadian Sedimentary Basin.”

As part of the development plan, the Company will complete production tests to reconfirm the fields composition. This process will be undertaken by deepening an existing well and flowing the gases for a period of two weeks, likely in June of 2021.

The Company is on track to seek further funding in the short term and is in consultation with its financing partner to understand the best structure to do so.