SASKATOON, SK, Aug. 21,
2023 /CNW/ - Royal Helium Ltd. (TSXV: RHC)
(OTCQB: RHCCF) ("Royal" or the "Company")
is pleased to report that all of the component modules for
the Steveville Helium Processing Facility are now on site and both
the 12-12 and 10-22 helium wells are tied in. The
mechanical, electrical and instrumentation contractors
have been on site since mid-June
installing and tying in components as they arrived and, with the
final two components arriving last week, are entering the final
assembly phase and preliminary commissioning. Further updates
will be provided once the plant is fully commissioned and
processing gas.
Andrew Davidson, President
& CEO of Royal states, "We are exceptionally pleased with the
progress on the completion of the Steveville helium plant, as it
brings us one step closer to being the first Canadian public helium
producer. Having the full facility onsite is a major
milestone and is a definitive message to all stakeholders and
shareholders that this new industry in the Brooks region is now
here, and is only the beginning for Alberta's helium future. Plant
operations personnel and services have been organized as we
complete the final installation over the coming weeks, concurrent
with commissioning, to be followed by full-scale
production."
The Steveville plant is designed to process 15,000,000
cubic feet/day of raw gas fed by the two 100% owned helium wells at
Steveville, Alberta and produce
22,000 mcf of 99.999% helium per year. The engineered life of the
plant is 25 years while both wells are expected to remain on stream
for a minimum of 9 years. The plant will also produce enough fuel
gas to power the plant and up to 22,000,000 pounds of commercial
CO2, which provides for a potentially significant secondary cash
flow stream to Royal.
About Royal Helium Ltd.
Royal is an exploration, production, and infrastructure
company with a primary focus on the development and production of
helium and associated gases. The Company controls over
1,000,000 acres of prospective helium permits and leases across
southern Saskatchewan and
southeastern Alberta. Given the
current and foreseeable global undersupplied nature of this
critical and non-renewable product, Royal is well positioned to be
a leading North American producer of this increasingly high value
commodity.
Royal's helium reservoirs are carried primarily with
nitrogen. Nitrogen is not considered a greenhouse gas (GHG) and
therefore has a low GHG footprint when compared to other
jurisdictions that rely on large scale natural gas production for
helium extraction. Helium extracted from wells in Saskatchewan and Alberta can be up to 90% less carbon intensive
than helium extraction processes in other jurisdictions.
Andrew Davidson
President and Chief Executive Officer
Royal Helium Ltd.
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 news release.
This news release includes certain statements that may
be deemed to be "forward-looking statements". All statements in
news this release, other than statements of historical facts, that
address events or developments that management of the Company
expects, are forward-looking statements, including, the Company's
intended use of the net proceeds of the Offering. 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.