Imperial Helium has today (26th July) said that it has successfully drilled, logged and cased its first well on its Steveville Helium asset, in South-eastern Alberta.
The company said that as soon as it is practical, it will commence completion and production testing of IHC-Steveville-1 and begin field-operations in preparation for drilling IHC-Steveville-2.
IHC-Steveville-1 is Imperial Helium’s first appraisal well of its Steveville structure reached a total depth of 2167.46m (plug back total depth) and penetrated the crest of the structure, as expected.
David Johnson, Director and CEO, commented, “The preliminary results of this first appraisal well are tremendously encouraging and support management’s estimate of at least 1.1Bcf of recoverable helium from the Steveville structure.”
“Shortly, we will commence production testing of IHC-Steveville-1 to appraise the reservoir quality and the deliverability potential last demonstrated by the Steveville blow-out. In addition, we will begin drilling IHC-Steveville-2, the second appraisal well which directly offsets the Steveville blow-out.”
“We remain on schedule with our plan to complete an independent resource assessment of this our founding asset during the fourth quarter of 2021.”