First Helium receives $1.2 million for oil production deliveries in April


Reports average daily oil production of 520 BBL/D over past five days

CALGARY, Alta., June 13, 2022 /CNW/ – Premier Helium Inc. (“First Helium” or the “Company”) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC), today announced that it has received $1.2 million for the volumes of light oil that the Company delivered for sale during the month of April. Cash flow from light oil sales will continue to be deployed to help fund the company’s ongoing helium exploration and development activities at its wholly-owned Worsley property and in the south Alberta Lands (Lethbridge).

During the month of May, the Company produced approximately 272 barrels per day (“bbl/d”) and delivered approximately 8,200 barrels of light oil for sale, down from previous months and from planned production capacity . The lower volume is the result of downtime related to a number of seasonal factors, including: severe rainy regional weather at the Company’s petroleum battery location, road use restrictions and the limited access due to overland flooding. During the downtime, the Company took the opportunity to fulfill certain regulatory testing and reporting requirements and to optimize its oil battery operations. At the end of June, the Company expects to receive approximately $700,000 for oil volumes delivered in May.

“While periods of combined precipitation and spring runoff limited our ability to produce and transport oil volumes at normal capacity in late April and May, we are pleased to have been able to use the unplanned downtime to optimize the configuration of both – oil the battery well and perform some operations necessary to meet regulatory reporting requirements,” said Ed BereznickiPresident and CEO of First helium. “We are also pleased to report that our two-well battery has returned to routine operation with daily production volumes averaging approximately 520 bbl/d of light oil over the past five days and that we have taken corrective actions to help mitigate future production time associated with limited road access to the battery,” added Mr. Bereznicki.

The Company is finalizing the necessary preparations to begin drilling the first of its two recently announced helium targets in July, subject to satisfactory weather conditions in the field. Similar to the Company’s helium 15-25 discovery well, which includes associated volumes of natural gas and natural gas liquids, First helium intends to commercialize all associated excess hydrocarbon volumes included in any new helium discovery wells in order to take advantage of the current strong natural gas and liquids price outlook, and to maximize cash flow to support future growth. First helium 79,000 acres along Worsley Trend hold great promise for helium and natural gas. Historical exploration and development drilling on the trend has encountered rich helium concentrations ranging from 0.5% to 1.9% in a number of formations.


Led by a team of senior executives with diverse and extensive experience in oil and gas exploration and development, mining, finance and capital markets, First helium aims to be one of the leading independent helium gas suppliers in North America.

Building on its successful helium 15-25 discovery well at the Worsley project, the Company has identified numerous follow-on drilling locations and acquired an extensive infrastructure system to facilitate future helium exploration and development across its Worsley land base. Cash flow from its successful oil wells to Worsley will help support First helium ongoing growth strategy for helium exploration and development.

First helium holds over 79,000 acres along the highly prospective Worsley Trend in Northern Alberta, and 276,000 acres in the Southern Alberta Helium Channel, near existing helium production. In addition to continuing its ongoing exploration and development drilling at Worsleythe Company has identified a number of high impact helium exploration targets on the prospective lands of the Southern Alberta Helium Fairway to create a second core exploration growth area for the Company.

For more information about the company, please visit


Edward J. BereznickiPresident, CEO and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.


This press release contains certain statements or disclosures relating to First helium which are based on the expectations of its management as well as on the assumptions made and the information currently available to First helium that may constitute forward-looking statements or information (“forward-looking statements”) under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, results, results or developments which First helium predicts or expects to occur or will occur in the future (in whole or in part) should be considered a forward-looking statement. In some cases, forward-looking statements can be identified by the use of the words “expects”, “will” and similar expressions. In particular, but without limiting the foregoing, this press release contains forward-looking statements regarding the timing and rate of production from discovery wells 4-29 and 1-30, respectively; expected cash flows; entering into off-take marketing arrangements; the use of funds and the Company’s strategy. The forward-looking statements contained in this press release reflect several important factors and expectations and assumptions of First helium including, without limitation: that First helium will continue to conduct its operations in a manner consistent with past operations; the general continuation of current or, as the case may be, presumed industry conditions; availability of sources of debt and/or equity to finance First helium capital and operating requirements, as required; and certain cost assumptions.

Forward-looking statements are based on management’s estimates and opinions as of the date they are made and are subject to risks, uncertainties and assumptions, including those set forth in the final prospectus dated June 28, 2021 and filed under the Company’s profile on SEDAR at Readers are cautioned that actual results may differ materially from the forward-looking statements made in this press release. Risks that could cause actual events or results to differ materially from those projected in the forward-looking statements include, but are not limited to, risks associated with the oil and gas industry; the ability to First helium finance capital and operating expenditures necessary to achieve its business objectives; the impact of the COVID-19 pandemic on the business and operations of First helium; the state of financial markets; increased costs and physical risks associated with climate change; the loss of key employees and the risks described in the Final Prospectus dated June 28, 2021. First helium does not undertake to update any forward-looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

THE SOURCE Premier Helium Inc.

© Canada Newswire, source Canada Newswire English

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