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 to advance Montana’s brand new helium processing facilities.
Global Helium has retained Journey Engineering of Calgary, Alberta to provide specialized services to develop a pre-FEED (Front End Engineering and Design) study for a helium purification plant at Global’s helium asset in Rudyard, Montana. The pre-FEED study is expected to be completed by the end of Q1 2023 and will provide a basis for the design including a process flow diagram, equipment list and cost estimate for Class 4; This allows Global to model ongoing development drilling plans and proceed with material identification and purchasing plans to facilitate construction targets.
As previously announced (see press release dated June 8, 2022), Global’s position in Rudyard, Montana, covers over 15 square miles and includes one well producing more than 2.5 mmcf/day raw gas with a helium concentration of 0.9 % can produce . This implies a crude helium production of 22.5 mcf/day. Management has completed a detailed deposit analysis over a 5 square mile area surrounding the Rudyard well which is aiding the progress of the pre-FEED study and further development planning for the property.
A recent BNN-Bloomberg article put wholesale helium prices in the United States at $1,500/mcf and 2024 prices at $750/mcf. There is currently no publicly accessible market for the pricing of gaseous helium, as the sale of helium is negotiated through contracts between buyers and sellers.
Jesse Griffith, President of Global, advises, “We look forward to working closely with Journey Engineering and leveraging their proven track record and helium expertise to bring Global’s Rudyard asset online quickly and efficiently.”
Journey Engineering is an established engineering firm and has successfully designed, sourced and installed multiple helium purification plants throughout the United States and Canada. For more information about the company, visit: https://journeyengineering.com/.
ON BEHALF OF THE BOARD OF DIRECTORS OF GLOBAL HELIUM CORPORATION
For more informations:
Walter Spagnuolo, Investor Relations
Tel: +1 (877) 816 8163
mcf = thousand cubic feet
mmcf = millions of 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 declining helium supply in North America and around the world. The company has an experienced team of industry professionals and technical experts and has established relationships with North American and international helium buyers. Collectively, the team has acquired 100% owned claims covering over 1.5 million acres prospective for helium in Saskatchewan’s well-established helium fairway and recently acquired a significant proven asset in the state of Montana.
Learn more at: https://globalhelium.com/.
No securities regulatory authority has reviewed and accepts responsibility for the adequacy or accuracy of the contents of this press release.
This press release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements in this internal release, other than statements of historical fact, 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 failure to comply with the requirements of the applicable securities exchange(s) and other risks arising from time to time in the Company’s filings with securities regulators documents are listed. The reader is cautioned that assumptions used in preparing the forward-looking information may prove to be incorrect. Events or circumstances could cause actual results to differ materially from those projected as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. The reader is cautioned not to place undue reliance on any forward-looking information. Although this information was believed to be reasonable by management at the time it was prepared, it could prove to be incorrect and actual results could 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 publicly update or revise any forward-looking statements contained herein as expressly required by applicable law.