Royal Helium Ltd. is set to step up its helium exploration programme in Saskatchewan, Canada, and is in talks with “several” major companies to be a processing partner.
Royal has over 300,000 acres of prospective helium land in south western and south-central Saskatchewan. All of Royals’ lands are in close vicinity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land near existing helium producing locations.
Andrew Davidson, Royal Helium President and CEO, said, “With shareholder support, Royal can now finalise its restructuring while continuing the advancement of its core helium properties. The company has commenced advanced exploration activities at the Climax property [in Saskatchewan], and is looking to have detailed drill targets identified by early August. Drill plans will be announced once finalised. Importantly, the detailed findings of our studies of geological economic and well data have been used to methodically identify several potential helium reservoir targets to drill.”
Royal’s studies of geological economic and well data identified several potential geological reservoir structures and traps over multiple land packages within Royal’s helium properties. Of the several structures identified, Royal’s initial focus is the Climax area in Saskatchewan.
The study, carried out by Steve Halabura P.Geo, Royal’s Vice-President of Exploration, found that focus areas are identified within a region of Saskatchewan with current helium production and historic gas composition analysis are some of Saskatchewan’s highest known concentrations of helium.
Over the next three months, Royal will focus on the advanced exploration and development of its properties specifically with the initial aim to start a multi-well drill programme in the fourth quarter at Climax, while continuing to further define the number of other well targets identified in the study, subject to financing.
Royal, which aims to become a leading North American producer of helium, is in discussions with several of the major industrial gas companies looking to select and secure a helium processing partner for Royal’s initial development.
Shareholders also re-elected Davidson, Tom MacNeill and John Pringle as the Royal’s directors at the Saskatoon, Canada-based company’s recent Annual General Meeting.