CALGARY, Alberta, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Global Helium Corp. (CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), one of North America’s largest helium exploration and development companies, is pleased to announce the commencement of activities towards the advancement of all-new helium processing facilities in Montana.
Global Helium has engaged Journey Engineering of Calgary, Alberta, to provide specialized services to develop a pre-FEED (“Front End Engineering and Design”) study for a helium purification facility at Global’s Rudyard, Montana helium asset. The pre-FEED study is expected to be completed by the end of Q1 2023 and will provide a basis of design, including a process flow diagram, equipment list, and Class 4 cost estimate; thereby, allowing Global to model ongoing development drilling plans and to proceed with materials identification and purchasing plans to facilitate construction targets.
As previously announced (see news release dated June 8, 2022), Global’s position in Rudyard, Montana encompasses over 15 square miles of land, and includes a well capable of producing greater than 2.5 mmcf/day of raw gas with a 0.9% helium concentration. This implies 22.5 mcf/day of raw helium production. Management has performed a detailed reservoir analysis on a five square mile area around the Rudyard well which supports moving forward with the pre-FEED study and further development planning on the asset.
A recent BNN Bloomberg article noted wholesale helium pricing in the United States of US$1,500/mcf and 2024 pricing of US$750/mcf. Currently, there is no publicly available market for gaseous helium pricing, as helium sales are negotiated via contracts between buyers and sellers.
Jesse Griffith, President of Global advises, “We look forward to working closely with Journey Engineering and benefiting from their proven track record and helium expertise to bring Global’s Rudyard asset on-stream quickly and efficiently.”
Journey Engineering is a well-established engineering firm and has successfully designed, procured, and installed multiple helium purification facilities across the U.S. and Canada. For more information on the company, please visit: https://journeyengineering.com/.
ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION
For more information:
Walter Spagnuolo, Investor Relations
Tel: +1 (877) 816 8163
mcf = thousand cubic feet
mmcf = million cubic feet
bcf = billion cubic feet
About Global Helium (CSE: HECO) (OTC: HECOF)
Global Helium one of Canada’s largest helium exploration and development companies, focused on the exploration, acquisition, development, and production of helium to meet the needs of increasing helium demand and shrinking helium supply in North America and around the world. The Company has a seasoned team of industry professionals and technical experts and has established connections with North American and international helium buyers. Together, the team has captured 100%-owned permits encompassing over 1.5 million acres prospective for helium in Saskatchewan’s well-established helium fairway and has recently acquired a significant, proven asset in the State of Montana.
Find out more at: https://globalhelium.com/.
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This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this internal announcement are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this internal announcement are expressly qualified by this cautionary statement. The forward-looking statements contained in this internal announcement are made as of the date of this internal announcement and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.