Slide from Helium Evolution’s March 21, 2022 corporate presentation outlining its drilling targets. Helium Evolution

 

CALGARY – It was a big day for Helium Evolution Incorporated on March 30. The junior helium explorer, one of four active in Saskatchewan, commenced trading on the TSX Venture Exchange (TSXV).

The Canadian-based helium exploration and production company focused on developing assets in southern Saskatchewan, said their common shares would be trading on the TSX Venture Exchange under the symbol ‘HEVI’.

Helium Evolution said in a release it “aims to help solve the growing global helium shortage that has developed as a result of challenges associated with COVID-19, technical malfunctions at key suppliers, and the supply chain breakdown resulting from current political instability in Europe. HEVI currently holds the largest helium land position in North America among publicly-traded companies at 5.4 million+ permitted acres, with multiple seismically defined targets. Using existing well, seismic and aeromagnetic data to identify helium leads in HEVI’s target geological zone, the Deadwood formation, the company anticipates the commencement of its drilling program in spring of 2022.”

Within the company’s news release of March 28, 2022, details of the number of common shares which will be subject to future escrow and legend restrictions was provided.

The company’s March 21, 2022 corporate presentation said they have identified at least six drilling targets through detailed seismic analysis. They have a drilling program scheduled to begin in the second or third quarter of 2022. The company has over 475 kilometres of 2D seismic data purchased and shot to date.

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That presentation noted their land base “surrounds what appears to be a successful North American Helium discovery. North American Helium has drilled five production wells on a helium structure adjacent to HEVI’s initial drilling targets.”

That same presentation says they are aiming for initial production of helium by the first or second quarter of 2023.

The company says it has identified over 180 potential helium anomalies on its land. The drill targets identified in the corporate presentation are not in the extreme southwest, however. Instead they are in the region around Mankota. Weil Helium had a production facility just southeast of Mankota, but it’s been out of operation for some time. Helium Evolution identifies targets to the northeast and west of the Mankota site.

Last fall, the Government of Saskatchewan announced its Helium Action Plan, with the intention of securing 10 per cent of global market share by 2030. That was before Russia invaded Ukraine. Russia is a major helium exporter on the world market. Helium Evolution pointed out Russia’s issues prior to the invasion, with a fire at a major production facility in January. “Experts believe that recent global economic sanctions on Russia resulting from the invasion of Ukraine may not allow Russian helium to reach international markets,” the presentation pointed out.

Helium Evolution also said Saskatchewan has an “attractive royalty structure.” The royalty rate is 4.25 per cent.

The other players active in Saskatchewan include North American Helium, which is far and away the furthest along, with production facilities in the extreme southwest corner of the province. Royal Helium started drilling in January 2021 and has punched holes at Climax and Ogema, with an announced intention of drilling at Val Marie after spring breakup. Global Helium and Helium Evolution round out the quartet, but are still early in the game.

Helium Evolution is headed up by Greg Robb, president and CEO, with Patrick Mills as chief operating officer, John Kanderka as VP of land and corporate development and Ryan Tomlinson as chief financial officer. Notable among its board is former Saskatchewan Premier Brad Wall, who from time to time contributes opinion pieces to Pipeline Online. The board’s chair is James P. Baker, while Michael Graham, Philip Hughes and Jeff Barber fill out the board.

 

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  • 0026 Buffalo Potash Quinton Salt
  • 0023 LC Trucking tractor picker hiring mix
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0019 Jerry Mainil Ltd hiring dugout
  • 0018 IWS Hiring Royal Summer
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