Helium Evolution Provides Update on 5-30 and 10-36 Wells

About this update from Helium Evolution Incorporated

[{"type":"text","content":"Helium Evolution Provides Update on 5-30 and 10-36 Wells\n\n\n\n CALGARY, Alberta, March 24, 2025 (GLOBE NEWSWIRE) --\n \n Helium Evolution Incorporated (TSXV:HEVI)\n \n (\"\n \n HEVI\n \n \" or the \"\n \n Company\n \n \"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to provide an update on two of the Company’s helium discovery wells: the 5-30-3-8W3 well (“\n \n 5-30 Well\n \n ”) and the 10-36-3-9W3 well (“\n \n 10-36 Well\n \n ”), both located along the Mankota helium fairway. HEVI holds a 20% working interest in both the 5-30 Well and the 10-36 Well, in partnership with the operator, North American Helium Inc. (“\n \n NAH\n \n ”).\n \n\n\n 5-30 Well Test Results\n \n\n\n On\n \n February 25, 2025\n \n , the Company announced preliminary results from the 5-30 Well including production of approximately 9.7 million standard cubic feet per day (“\n \n MMscf/d\n \n ”) at 10,700 kiloPascal (“\n \n kPa\n \n ”) flowing tubing pressure after a five-day extended flow period. The preliminary test results also confirmed a helium content of 0.76%, significantly higher than the commercially viable threshold of 0.3%. Additionally, negligible water was observed, signaling strong potential for efficient helium recovery and processing.\n \n\n Since HEVI’s initial announcement, a post-flow pressure transient analysis (“\n \n PTA\n \n ”) of the 5-30 Well, conducted by Petro Management Group Ltd. (“\n \n PMG\n \n ”) has provided promising data. The PTA utilized a composite reservoir model to assess pressure response, flow rates, and other reservoir properties, all of which are important data points for guiding future development plans in the area. The PTA indicated a calculated absolute open flow potential (“\n \n AOFP\n \n ”) of 20.7 MMscf/d.\n \n\n Moreover, bottomhole pressures recorders were installed in the nearby 9-35-3-9W3 well (“\n \n 9-35 Well\n \n ”), 10-1-4-9W3 well (“\n \n 10-1 Well\n \n ”) and the 10-36 Well during the 5-30 Well’s flow test. Pressure data analysis indicated the 5-30 Well is a new pool discovery. The PTA radius of investigation was almost three kilometers and further drilling will be necessary t...

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