The 4-29 properly is positioned close to the corporate’s 1-30 mild oil discovery properly, and roughly 3 km SE of the 15-25 helium properly on the core Worsley Property. A geologic and seismic evaluation of the area means that just like the 1-30 and 15-25, the 4-29 prospect presents as a structural excessive on the Leduc Reef Advanced, the corporate stated.
The 1-30 mild oil discovery properly examined at roughly 419 barrels of 35 diploma API mild oil over 3 days and is anticipated to be introduced on-stream in early February at roughly 400 barrels per day.
The 15-25 was most not too long ago examined final month to include 1.3% helium content material primarily based on a 10-day stream interval at 2 million cubic toes per day of uncooked fuel. The uncooked fuel stream is comprised of roughly 65% pure fuel, which shall be produced together with the helium fuel, offered to market and in addition used to generate energy for facility operations.
The 1-30 Leduc properly was drilled primarily based on an in depth 3D seismic analysis of the Worsley Property. The outcomes verify First Helium’s geologic mannequin for the world. Primarily based on the Firm’s evaluation of financial Leduc wells alongside the Worsley Pattern, roughly 20% have been mild oil producers, the stability have been pure fuel producers containing potential financial helium content material.
An in depth geological and geophysical analysis of lands within the neighborhood of the 15-25 properly, the 1-30 properly, and alongside the broader Worsley Pattern has yielded extra compelling drill targets, the corporate stated, including that it’ll incorporate the outcomes from the drilling and testing of the 4-29 properly to strategically pursue new drilling areas throughout the 90 km huge Worsley Pattern.
The corporate expects to start drilling operations in mid-February.