VANCOUVER, BC, Dec. 15,
2023 /CNW/ - Total Helium Ltd. ("Total
Helium" or the "Company") (TSXV: TOH) (OTCQX: TTLHF)
(FRA: Y02.F) provides the
following updates on the Pinta South project. The Arizona Oil and
Gas Conservation Commission has approved a drilling permit for the
23-10, the first of five additional tests to be drilled in Total
Helium's Pinta South area. The initial test site is located in
Section 23 of T19N-R26E and targets the Shinarump formation at a
depth of approximately 1,000 feet. It offsets a historical well
which tested 5% to 6% Helium from a gas rate of 115 MCFD on a 3/16
inch choke at 155 pounds of pressure from the Upper Shinarump
formation following a very small stimulation. The well was never
connected to a pipeline following deteriorating market conditions
for helium and the well was plugged and abandoned in 1971. In an
effort to gain greater understanding of the reservoir and fluid
properties, future tests will include open-hole logs, and a core of
the 23-10. The drilling rig is now scheduled for late January or
early February to spud the 23-10 well, depending upon weather at
the project location.
The second well is to be drilled shortly after receipt of the
approved Geologic Field Operations Plan from the Arizona State Land
Department and the approved drilling permit from the Arizona Oil
& Gas Commission (anticipated in late February or early March)
and will be located in Section 22 of T19N-R26E. The test will
target the Shinarump formation at a depth of approximately 1,000
feet. In late 2022 and early 2023 the surface of the project area
was tested for trace amounts of helium. Approximately 800 soil gas
samples were collected over nine square miles. Elevated helium
values were identified in several areas. The planned well in
Section 22 sits within one such anomaly. In addition, Section 22
also appears to be located on a structural high in a thicker
portion of the reservoir. Rather than drilling the remaining three
locations back to back, the company will pause future drilling long
enough to adequately interpret geological and reservoir
characteristics gained from the core and log suites.
In October Total Helium reported that the operator intended to
recomplete two of seven recently drilled Pinta South wells
following damage they may have received following an extended
shut-in period. Unfortunately the recompletion activities performed
on the 23-15 and the 22-8 wells failed to reinstate economic
production. We continue to work to better understand the Shinarump
as a reservoir, in order to establish economic production in the
project area.
ABOUT TOTAL HELIUM LTD.
Total Helium is a helium exploration and production company with
interests in the Holbrook basin of
Arizona. For more information,
please visit SEDAR+ (www.sedarplus.ca) and the Company's website
(www.totalhelium.com).
Forward Looking Statements
Statements included in this announcement, including
statements concerning our plans, intentions and expectations, which
are not historical in nature are intended to be, and are hereby
identified as, "forward-looking statements". Forward-looking
statements may be identified by words including "anticipates",
"believes", "intends", "estimates", "expects" and similar
expressions. The Company cautions readers that forward-looking
statements, including without limitation those relating to the
Company's future operations and business prospects, are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those indicated in the forward-looking
statements.
Neither the 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.
SOURCE Total Helium Ltd
