Helium Evolution Announces Spudding of Joint Well

Source: www.gulfoilandgas.com 12/4/2023, Location: North America

Helium Evolution Incorporated (TSXV:HEVI) ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to announce that its partner, North American Helium Inc. (“NAH”), has spud the previously announced joint well located at 9-18-3-8W3 (“Joint Well #2”) on joint lands held at Mankota in Saskatchewan. Joint Well #2 is approximately six kilometers north of HEVI’s helium discovery at 2-31-2-8W3 (“Joint Well #1”), as announced on November 21, 2023.

HEVI will participate in the drilling of Joint Well #2 at its 20% working interest, which is estimated to cost the Company approximately $0.4 million net. Funding of the Company’s share of Joint Well #2 is supported by HEVI’s strong working capital position which totaled $7.8 million at September 30, 2023.


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