First Helium Inc. · TSXV:HELI
First Helium — Investor Presentation (February 2025)
39 slides from First Helium's investor presentation, February 2025
Slide 1: Developing Alberta's Helium-Enriched Natural Gas & Oil Play
DEVELOPING ALBERTA’S HELIUM-ENRICHED NATURAL GAS & OIL PLAY TSX-V: HELI OTCQB: FHELF FRA: 2MC February 2025 CORPORATE PRESENTATION
Slide 2: Cautionary Notes & Forward Looking Statements
CAUTIONARY NOTES & FORWARD LOOKING STATEMENTS The information contained herein has been prepared to assist interested parties in making their own evaluation of First Helium Inc. (“First Helium” or the “Company”) and does not purport to contain all of the information that a prospective investor or pa
Slide 3: Future Oriented Financial Information
FUTURE ORIENTED FINANCIAL INFORMATION FUTURE ORIENTED FINANCIAL INFORMATION This presentation may contain future oriented financial information (“FOFI”) within the meaning of applicable Canadian securities laws and applicable United States securities laws, about prospective results of operations, pr
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS High Quality, Valuable Property Package – One of the Better Plays ➢ Exposure to Helium, Natural Gas, and Oil revenue streams – mitigates risk, enhances value ➢ Large Drill Target Inventory, become meaningful Helium supplier ➢ Large Helium Resource w/ Growth Potential, initial d
Slide 5: High Quality Property Package
HIGH QUALITY PROPERTY PACKAGE • 53,000 Acres (~83 Sq. Miles) Core Project, 100%-Owned • Large helium resource, independently evaluated • Multi-zone drilling for helium, natural gas & oil – mitigates risk • Large inventory of drilling locations Units Referred to Throughout Document mcf = thousand cub
Slide 6: Project Highlights
PROJECT HIGHLIGHTS HIGHLY SCALEABLE – TWO PLAYS ➢Leduc Play - 12 follow-up vertical drill targets, including one large feature opportunity, provide for substantial growth. Targeting $70 MM revenue in 3-5 years. ➢Blue Ridge Repeatable Play - Successful testing of 5-27 at West Worsley adds 30+ horizon
Slide 7: Worsley – Exposure to Multi-Zone Production
Worsley – Exposure to Multi-Zone Production • Established, historical multi-zone Production Zones Dunvegan: producing area based on key operated Mannville Gething/Bluesky, etc: wells - Gas & Oil. Charlie Lake: Montney: • Map highlights primary productive Shallower Wabamun: Helium zones. Producing we
Slide 8: First Mover – Northern Alberta Helium Natural Gas Play
FIRST MOVER – NORTHERN ALBERTA HELIUM NATURAL GAS PLAY 12 Highly Prospective Locations 53,000 Core Acres - 100% Owned Reduced Risk with Abundant Data ● Multi-zone Helium, Oil & Gas ● Area produced 315 Bcf gas & 17 ● Area has produced over 1 Bcf of ● Large feature opportunity mmbbl’s of oil – eg. She
Slide 9: Economics of the 15-25 Helium Well – Template for Growth
ECONOMICS OF THE “15-25” HELIUM WELL – TEMPLATE FOR GROWTH $ Canadian Unless Otherwise Shown Why We Like Helium Enriched Gas: ~ 3x the cash flow of a typical natural gas well !! CURRENT HELIUM MARKET Helium Price $C / mcf $500 Natural Gas Producers1 (No Helium) Revenue per mcf of Produced Gas2 $8.94
Slide 10: Worsley Leduc Play - Oil Opportunity Drilling Q1 2025
1-30 Leduc Oil Well Leduc Feature Drill Location Worsley Leduc Play - Oil Opportunity A 4-29 Leduc Oil Well Primary Leduc Drill Locations Drilling Q1 – 2025 !!! 7-30 PUD Location Proprietary 3D Seismic Drill, Complete & Tie-in 7-30 Proved Undeveloped (“PUD”) Well Location: • Proved + Probable Reserv
Slide 11: Worsley Blue Ridge Regional Play
Re-Complete & Test Existing Vertical Well – Worsley Blue Ridge Extend Regional Repeatable Play 26 KM to East Regional Play Horizontal Well Area Wells with Blue Development: Ridge Production 14 Primary, 17 Follow-up Locations Complete & Test Existing Horizontal Well West East in West – Sets Up Region
Slide 12: West Worsley Blue Ridge Development Scenario
West Worsley Blue Ridge Development Scenario • Successful Completion & Testing of Existing Horizontal Offset Vertical 5-27 Well Initiates West Worsley Development of Helium Blueridge Wells 0.74 BCF Enriched Natural Gas Play 2.9 mbo Helium: 0.88% • West Worsley “Upside” Revenue Estimate ~ $70 - $80 H
Slide 13: Worsley Project Area Scalability - Indicative Economics
WORSLEY PROJECT AREA SCALABILITY - INDICATIVE ECONOMICS One Vertical Ten Well Vertical West Worsley Total Project Project Scale Well (Existing Drill “Leduc” Repeatable Drill Vertical + “15-25”) Project2 “Blue Ridge” Project2 Horizontal Helium Price ($C / mcf) $500 $500 $500 $500 Total Drilling Costs
Slide 14: Path Forward
PATH FORWARD Q4/’24 – Q2/’25 Q4/’24 – Q3/’25+ 2025 - 2028+ Equity Financing Facility Target (3-5 June 2024 Completed Financing Years) Project & Inventory Four Key Operations Build Helium Established • Large Leduc Structure • Drill Significant Processing Helium Producer Identified on 3D Seismic Leduc
Slide 15: Gas Weighted Producers Comparison
GAS WEIGHTED PRODUCERS COMPARISON Oil & Gas Producer Trading Multiples Reflect Well on HELI’s Project Forecasts Implied Value Based on Gas Producer EV/DACF1 Multiples 4,500 700 5.3x Enterprise Value ($MM) 4,000 600 Production (mmcf/d) 3,500 500 3,000 7.1x 7.1x 2,500 400 2,000 300 5.0x 1,500 4.0x 4.0
Slide 16: Helium Peer Group Comparison Highlights
HELIUM PEER GROUP COMPARISON HIGHLIGHTS As “HELI” nears helium production, peer comparison suggests potential for 3 - 5x growth in Enterprise Value. Implied Helium Trading Value Comparison - $/mcf He Resource MARKET CAP./RESOURCE ($/MCF) MARKET CAPITALIZATION ($MM) 350 Saleable Helium Gas Resource $
Slide 17: Next Steps | 12 Months
NEXT STEPS | 12 Months Immediate Activities Next Activities ➢ Drill new Leduc 3D seismic anomaly. Evaluate Potential Partnership/Acquisition ➢ Drill Leduc 7-30 PUD Well. Opportunities to Facilitate ➢ Complete and Test Hz Well to add potential Development of Assets. helium production and establish Bl
Slide 18: Thank You
THANK YOU Contact us for more information on this investment opportunity! FIRST HELIUM INC. Corporate Office Suite 550, 800 West Pender Street Vancouver B.C. V6C 2V6 Canada Head Office Suite 1225, 635 Eighth Avenue SW Calgary, AB T2P 3M3 Canada Email: ir@firsthelium.com Toll-Free: (833) HELIUM-1 (83
Slide 19: Appendix
APPENDIX Table of Contents: Share Capitalization 20 Management & Directors 21 - 22 Helium “101” 23 - 30 Worsley Project – Additional Information 31 - 37
Slide 20: Share Capitalization
SHARE CAPITALIZATION COMMON SHARES OUTSTANDING AS AT January 1, 2025 Stock Symbol: TSXV - ”HELI” & OTCQB - “FHELF” Basic 213.9 (MM) Options (Exercise Price $0.35) 5.8 (MM) Warrants (Wtd. Avg. Ex. Price $0.08, Proceeds $10.5 MM) 127.5 (MM) Fully-Diluted 347.2 (MM) Management, Directors, Advisors and
Slide 21: Corporate Bench Depth
CORPORATE BENCH DEPTH First Helium boasts a seasoned management team, board and advisory group with successful track records and experience in oil and gas exploration and production, capital markets and finance, helium project development, construction and project management, and mining exploration
Slide 22: Independent Directors
INDEPENDENT DIRECTORS Todd Holmstrom Cal Watson B. Sc. P. Eng. 33+ years in leadership roles in Oil & Gas, 35 years Oil and Gas experience Mining, Wireless Communications, and Medical Devices ● Multiple roles across Operations, Production, and Reservoir Engineering, Gas ● Held the position of Presid
Slide 23: Helium: Unique, Rare and Valuable
HELIUM: UNIQUE, RARE AND VALUABLE Helium is essential in modern high-tech, medical, scientific and industrial applications because of its exceptional physical properties. There are a lack of substitutes for helium in many applications. QUICK DIFFUSION SMALL MOLECULAR SIZE NON-TOXIC ULTRA-HIGH Helium
Slide 24: Why Helium?
WHY HELIUM? GLOBAL DEMAND 6 bcf/year Source: Akap Energy Ltd.2 Global Helium Market to Grow 300% by 2030 $3.94 Billion (2021) - $13.26 Billion (2030) $US1 Global Market Prices for Helium have Increased! ● Global Helium Import Prices have grown over 53% from ~$US 310 per mcf in January 2020 to over $
Slide 25: Market Fundamentals
MARKET FUNDAMENTALS HELIUM DEMAND USES Big technology companies like Amazon, Google, Facebook, NVIDIA and Netflix all depend on this one gas to keep their servers up and running around the clock. Helium has everyday applications in the tech and medical industries as well as space travel and national
Slide 26: Helium Market Opportunity – Supply Issues
HELIUM MARKET OPPORTUNITY – SUPPLY ISSUES GLOBAL - helium supply issues and geopolitical uncertainty ● Qatar, Algeria and Russia are major suppliers 3 ● Russia Amur Plant start-up issues and war related trade sanctions have delayed new supply2 ● Ongoing regional supply disruptions and flow of helium
Slide 27: A Common Yet Finite Resource
A COMMON YET FINITE RESOURCE Helium is the second most prevalent element in the universe, but relatively uncommon on Earth. However, helium is very difficult to trap and store – due to its lack of density, it quickly rises and dissipates into the atmosphere. The majority of atmospheric helium is los
Slide 28: Market Fundamentals of Helium
MARKET FUNDAMENTALS OF HELIUM GLOBAL PRODUCTION OF HELIUM | 2022 Global helium production summary by Country1: CRITICAL MINERAL | Helium has been identified as a critical removeechart chare Million m 3 Billion ft3 mineral by Canada and Europe. It is receiving renewed attention by the US Government a
Slide 29: Economics of Helium vs Natural Gas
ECONOMICS OF HELIUM VS NATURAL GAS SUPPLY & DEMAND | Certain considerations will continue to drive the global supply demand balance for helium. ● Demand expected to grow from 6 Bcf per year by ~8% through 2026 ● Additional supply from Russia subject to technical issues and geopolitical uncertainty ●
Slide 30: Market Fundamentals of Helium - Helium Grading System
MARKET FUNDAMENTALS OF HELIUM - Helium Grading System1 Grade 6 (99.9999% Purity) The closest to 100% pure helium, 6.0 helium is used in the manufacturing of semiconductor chips. It’s also “6 Nines” used in laboratories for scientific research, laser cutting, MRI machines, and as a carrier gas in gas
Slide 31: Worsley Area Exploration
WORSLEY AREA EXPLORATION ● Historically active region for hydrocarbon exploration and development ● Multi-commodity presence enhances value proposition and mitigates helium exploration risk ● In late 1990’s, discovery of high-nitrogen, helium-rich natural gas, which did not meet sales pipeline speci
Slide 32: Worsley Helium Project
WORSLEY HELIUM PROJECT HELIUM DISCOVERY WELL “15-25” UNDERPINS PROJECT DEVELOPMENT ● Ready to produce helium gas, pending installation of scalable, modular, processing facility. ● Independent Resource Evaluation – 323 mmcf Helium, 12.6 Bcf Natural Gas, 372 mbbls NGL’s SCALABLE DEVELOPMENT ON ADJACEN
Slide 33: First Helium Contingent Resources Report | 15-25 Discovery Well
FIRST HELIUM CONTINGENT RESOURCES REPORT | “15 - 25” Discovery Well Prepared by Sproule Associates Ltd. March 31, 2021¹ Sensitivity to Helium Pricing VOLUMES NPV 10% Helium Natural Gas Natural Gas Liquids $300/mcf $340/mcf $400/mcf $500/mcf $600/mcf mmcf mmcf mbbl $MM $MM $MM $MM $MM 323 12,632 372
Slide 34: Worsley Area Reef Trend
WORSLEY AREA REEF TREND ● Deep-seated Faulting within the LOWER BANFF Basement ● Reef Build-up Associated with Faulting and Pre-existing High WABAMUN ● Hydrothermal Fluids Creating He Dolomite around Fault Conduits He NISKU IRETON ● Helium Generated in the Basement and Migrated through Existing Faul
Slide 35: 5-27 Horizontal Well Helium Target – West Worsley
“5-27” HORIZONTAL WELL HELIUM ● “5-27” Well successfully drilled TARGET – WEST WORSLEY and cased August 2022 (Prior ID “14-23”) ● Strategically targets reservoir 0.83% He First Helium 0.88% He with known historical natural Produced 5-27 Horizontal Produced gas production and helium 0.6 Bcf Natural W
Slide 36: Blue Ridge Forecast Well Economics
Blue Ridge Forecast Well Economics Forecast Production & Economics Existing 5-27 Blue Ridge Horizontal Well Capex - Completion, Equip. & Tie-in ($M) 1,400 5-27 Blueridge Horizontal Gas Production vs Time 4000 Before Tax Rate of Return 181.7% Raw Gas Production mcf/d 3500 IP: 3,000 mcf/d Raw Gas EUR
Slide 37: Risk Factors
RISK FACTORS Readers should carefully consider the risks and uncertainties described below and in First Helium’s Final Prospectus dated June 28, 2021, filed on First Helium’s SEDAR profile at www.sedar.com before deciding whether to invest in First Helium’s securities. These risk factors do not nece
Slide 38: Risk Factors
RISK FACTORS There is no assurance that further commercial quantities of helium, natural gas or oil will be discovered or acquired by First Helium. Helium, natural gas and oil exploration, development and production operations are subject to all the risks and hazards typically associated with such o
Slide 39: Risk Factors
RISK FACTORS Reliance on key personnel The success of First Helium will depend in large measure on certain key personnel and management. The loss of the services of such key personnel could have a material adverse effect on First Helium. The competition for qualified personnel in the helium, natural