Helium Evolution has announced that its partner, North American Helium, has successfully completed drilling and casing of the farm-out well located at 9-35-3-9W3 (Test Well Area #1) in Saskatchewan, Canada.
North American Helium was 100% responsible for the drilling costs for Test Well Area #1. However, any future joint operations at Test Well Area #1 will be shared by North American Helium and Helium Evolution at an 80% and 20% ratio, respectively.
The partners plan to complete, test, and evaluate Test Well Area #1 in the coming weeks to verify the presence of helium and assess the commerciality of the potential helium discovery.
Helium Evolution announced the spudding of Test Well Area #1 earlier this month (Jan 2024).
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