Global Helium Corp. announced to share an update on the company?s second helium discovery at 10-08-012-04W4/00 (?10-08?), following initial testing and post-flow pressure transient analysis. The 10-08 exploratory well was drilled and cased in November of 2023 and is situated on the farm-in land block of Perpetual Energy Inc. along the Manyberries helium trend near the Medicine Hat region of Southeast Alberta.

Positive Results From 10-08 Well: On April 16, 2024, the Company announced that following remediation work and stimulation, the 10-08 well production tested at approximately 4.1 million cubic feet per day at 3,500 kilopascal flowing tubing pressure from the Beaverhill Lake formation over a four-day extended test. Helium concentrations from the Beaverhill Lake zone were 0.56% ? 0.68% based on several analyzed gas samples from the well, confirming that the 10-08 well represents HECO?s second commercially viable opportunity.

Subsequently, a post-flow pressure transient analysis (?PTA?) and composite reservoir model were used to record pressure response, flow rates, reservoir properties and potential pool boundaries. The PTA indicated the reservoir appears expansive and productive, with no discernible depletion in reservoir pressure or demarcation of reservoir boundaries. Moreover, the PTA revealed an absolute open flow potential of 8.05 million standard cubic feet per day (MMscf/d).

Operations Update: North American Helium Elects to Drill Well on HECO Lands: the Company announced that North American Helium Inc. has elected to drill a test well in the Vermillion Hills area of HECO?s Saskatchewan acreage. This election follows the execution of a seismic review option agreement dated April 8, 2024 between HECO and NAH, which afforded the Company the opportunity to advance its Saskatchewan land base while mitigating up-front capital costs and exploration risk. Pursuant to the Agreement, NAH has the right to review HECO?s proprietary seismic data covering the majority of the Company?s exploration permits in Saskatchewan and select a drilling location based on this review.

In third quarter 2024, the company expects NAH to spud this new well, incurring 100% of the drilling cost, while HECO has retained the option to participate in the completion and testing of the well at a 20% working interest in any potential discovery, with NAH retaining an 80% working interest in the operations and said lands. Expanding HECO?s Asset Base in Northern Alberta: The Company has successfully acquired eight sections of land in Northern Alberta, situated within a region prospective for helium. These new sections of land expand HECO?s existing asset base, and represent an exploratory asset for HECO, with the potential to provide further developmental opportunities designed to contribute to the Company?s long-term sustainability.