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First Helium Adds Over 500,000 Barrels of Total Proved + Probable Light Oil Reserves at Worsley
First Helium Adds Over 500,000 Barrels of Total Proved + Probable Light Oil Reserves at W...
About this update from First Helium Inc.
[{"type":"text","content":"\n \n \n \n First Helium Adds Over 500,000 Barrels of Total Proved + Probable Light Oil Reserves at Worsley\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSXV: HELI    OTCQB: FHELF    FRA: 2MC\n \n \n \n \n Receives\n \n $1.2 Million\n \n for Oil Deliveries in June\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Aug. 2, 2022\n \n \n /CNW/ -\n \n First Helium Inc. (\"First Helium\" or the \"Company\")\n \n (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC), today announced that it has received a reserve report from its independent evaluator, prepared in accordance with \"NI 51-101\" guidelines, indicating Total Proved plus Probable\n \n (\"2P\")\n \n gross reserves of 505,100 barrels of light oil with corresponding NPV 10% of\n \n $24.6 million\n \n \n 1,2\n \n , for its oil property at\n \n Worsley\n \n . In addition, the Company received revenue of approximately\n \n $1.2 million\n \n in late July for oil volumes that the Company delivered for sale during June. In late June, the Company received revenue of approximately\n \n $0.7 million\n \n for oil volumes that the Company delivered for sale during May.\n \n \n \n \n \n \n \n \n \n \"When combined with the independent contingent resource\n \n 5\n \n evaluation of First Helium's 15-25 well, the receipt of an independent evaluation of the Company's light oil reserves further substantiates First Helium's underlying asset value,\" said\n \n Ed Bereznicki\n \n , President & CEO of First Helium.  \"First Helium intends to deploy ongoing cash flow from its oil production to help fund further exploration of the numerous, internally generated heliu...