Focused on the commercial development of its Worsley helium project, First Helium has announced the acquisition of six kilometres of natural gas gathering pipeline assets, 2,112 acres of land and four wells.
In addition to the acquisitions, the Canadian helium exploration company has also conducted an additional flow-test on its original 15-25 well, acquired representative raw gas samples and submitted them for comprehensive independent expert gas and isotope analyses.
Through doing this, First Helium hopes it will be provided with a detailed gas composition analysis, including the existence of any potential scarce isotopes, to be used in refining its helium processing facility design parameters.
On the company updates, Ed Bereznicki, President and CEO of First Helium, said, “Closing of the Acquisition accelerates the commercial development of our helium project at Worsley.
“The addition of these assets, at a cost well below our estimated replacement value of approximately $1m, expands our extensive infrastructure system at Worsley, enables us to get a head start on commissioning the gathering system for the receipt of future helium gas production, extends the main gathering line that we require to support the larger scale commercial development across our entire Worsley asset base, and allows us to focus our infrastructure resources on well site facilities and helium extraction.”