VANCOUVER, BC, May 16, 2023
/CNW/ - Total Helium Ltd. (TSXV: TOH), (OTCQB: TTLHF)
("Total Helium" or the "Company") provides an operational update on
its Pinta South Project.
Pipeline Construction Underway,
Wells Hooked to Processing Facility
As part of Total Helium's acquisition of the Pinta South Project
in Arizona, Total Helium acquired
a 20% working interest in 2 producing wells and a 50% working
interest in 27,000 acres which includes 8 additional wells that are
awaiting connection to the helium processing facility. Total Helium
has constructed a six mile pipeline and has connected 5 of those 8
wells to the helium processing facility.
3 Additional Wells
Drilled
In addition to the 10 wells that Total Helium initially
acquired, in the last two weeks an additional 3 wells have now been
drilled and are awaiting completion.
Initial Soil Gas Survey Completed,
Follow Up Study Underway
An effort is underway to optimize drilling locations by
conducting an additional helium soil sample survey. Previous
surveys have shown promising results that indicated the presence of
several anomalies to help delineation of sand channels/river
systems. Although Total Helium's drilling program anticipates most
wells will be drilled and completed within the blanket Shinarump
formations, "sand channel" wells are expected to enhance production
rates. The 20% owned two producing wells are "sand channel" wells
and have produced 243,700 MCF (28-1 NS Well) and 179,000 MCF (27-1
NS Well) with 8% helium over the past three years. As warmer, dryer
weather has arrived in Arizona,
Total Helium and its joint venture partner have begun the helium
soil sampling survey to identify these channel systems. The soil
gas survey will run from mid-May through early June 2023.
"The fact that we hit the ground running on our joint venture
in Arizona is a sign of things to
come as we enter a new chapter in Total Helium's evolution. We
appreciate the efforts of our joint venture partners as we work
together to drill new wells, install pipeline, and bring helium to
a market that desperately needs it," said Robert B. Price, Director and CEO of Total
Helium.
Total Helium is a helium exploration and production
company with a mission to ensure that there is a stable supply of
domestically produced helium to support the many high tech
industries that rely on this important element. The Company's main
footprint includes helium producing assets in the prolific
Holbrook Basin of Arizona, where its wells produce 5-8% helium
concentrations. Total Helium is meeting domestic industrial demand
for helium with one of the greenest supplies of helium available on
the market.
On behalf of the Board,
Robert B. Price, Director and
CEO
Total Helium Ltd. - www.totalhelium.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Statements included in this announcement, including
statements concerning our plans, intentions and expectations, which
are not historical in nature are intended to be, and are hereby
identified as, "forward-looking statements". Forward-looking
statements may be identified by words including "anticipates",
"believes", "intends", "estimates", "expects" and similar
expressions. The Company cautions readers that forward-looking
statements, including without limitation those relating to the
Company's future operations and business prospects, are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those indicated in the forward-looking
statements.
SOURCE Total Helium Ltd