SASKATOON, SK, March 3, 2021
/CNW/ - Royal Helium Ltd. ("Royal" or the "Company")
(TSXV: RHC) announces that it has engaged two service rigs and that
the completions and testing program has been initiated at Climax-1
and Climax-2. The finalized testing program, which was
developed in concert with Sproul Associates Ltd., involves the
sequential perforation and gas flow testing of several separate
intervals identified during drilling. Finalized results from
the testing program will be reported as the information becomes
available.
Royal further announces that the Climax-3 helium well has been
drilled to its target depth of 2,600 metres. Royal's
completion team is reviewing the log data at Climax-3 to determine
the intervals to be production tested. The completion and testing
program at Climax-3 will commence once testing is complete on
Climax-2.
Andrew Davidson, President and
CEO of Royal comments, "We are pleased to have our initial 3 wells
at Climax drilled to target depth and we are excited to be
production testing these high value targets. We want to thank the
team from Savanna 419 for their diligent work in completing this
drilling program safely and effectively".
Mr. Davidson continues "With 2 service rigs operating we
anticipate the testing to be completed on all 3 wells over the next
few weeks. While any significant developments will be announced as
they are received, all results will be evaluated by Sproule for a
potential helium resource and production over multiple separate
zones within this large structural closure".
The three Climax wells were drilled into the Precambrian
basement, directly below the Deadwood Formation. The Deadwood is a
sand and shale sequence that is a known helium production zone in
Saskatchewan. These first three wells are targeting different
parts of the same large structural trap identified on the central
portion of the Climax land block.
Qualified Person: Stephen P. Halabura P.
Geo. the Company's Vice President of Exploration is a
Qualified Person (as such term is defined in National Instrument
43-101 - Standards of Disclosure for Mineral Projects) and has
reviewed and approved the technical disclosure contained in this
news release.
About Royal Helium Ltd.
Royal is focused on the exploration and development of primary
helium production in southern Saskatchewan. With over 400,000
hectares of prospective helium lands held under permits, leases and
applications, Royal is one of the largest helium leaseholders in
North America. Located next to highways, roads, cities and
importantly close to existing oil and gas infrastructure, Royal's
projects were methodically evaluated for helium potential for over
two years, and have been vetted by helium experts, professional
geologists and engineers.
For more information, please contact Andrew Davidson, the Chairman, President and CEO
of the Company.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This release includes certain statements that may be deemed
to be "forward-looking statements". All statements in this
release, other than statements of historical facts, that address
events or developments that management of the Company expects, are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further information.
SOURCE Royal Helium Ltd.