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First Helium Receives $1.2 Million For April Oil Production Deliveries
First Helium Receives $1.2 Million For April Oil Production Deliveries Canada N...
About this update from First Helium Inc.
[{"type":"text","content":"\n \n \n \n First Helium Receives $1.2 Million For April Oil Production Deliveries\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.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 Reports Average Daily Oil Production of 520 BBL/D Over Last Five Days\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n June 13, 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\n \n $1.2 million\n \n for light oil volumes that the Company delivered for sale during the month of April. Cash flow from the light oil sales will continue to be deployed to help fund the Company's ongoing helium exploration and development activities at its 100% owned Worsley Property, and the\n \n Southern Alberta\n \n (\n \n Lethbridge\n \n ) Lands.\n \n \n \n \n \n \n \n \n \n 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 expected production capability. The lower volume was a result of down-time related to a number of seasonal factors that included: inclement regional wet weather at the Company's oil battery location, road use restrictions and limited access due to overland flooding. During the down-time, the Company took the opportunity to complete some required regulatory testing and reporting requirements and to optimize its oil battery operations.  In late June, the Company expects to receive approximately\n \n $700,000\n \n for oil volumes delivered during May.\n \n \n \"While periods of combined precipitation and spring run-off limited our ability to produce and truck oil volumes at normal capacity during late April and May, we are pleased that we were able to use the unscheduled down-time to optimize the configuration of the two-well oil battery and perform some necessary operations to meet regulatory reporting requirements,\" sai...