First Helium

First Helium Inc. is a helium exploration and production company focused on developing its helium resource in the Worsley region of Alberta, Canada. The company's flagship Worsley project consists of 60,000 acres held 100% by First Helium where an independent report by Sproule Associates estimates an unrisked contingent resource of 323 million cubic feet of helium.

First Helium is at the pre-production stage, having discovered helium at its Worsley 15-25 discovery well. The company is working towards installing a helium processing facility to commence production at Worsley, targeting first gas sales by Q4 2024. First Helium also has an offtake agreement in place with a major industrial gas company for the purchase of up to 80% of helium production from the 15-25 well.

In addition to the 15-25 discovery well, First Helium has identified over 15 prospective drill locations at Worsley and 276,000 acres in Lethbridge area for further helium, oil, and gas exploration. Successful appraisal drilling around the discovery well could support a scalable development with the potential to produce over $100 million in annual revenue. The company also holds a large exploration land package at Lethbridge, Alberta where 3D seismic is being used to mature drill targets.