Global Helium Engages Journey Engineering to Advance Montana Helium Processing Facility
CALGARY, Alberta, Nov. 29, 2022 (GLOBE NEWSWIRE) — Global Helium Corp. (CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), one of North America’s largest helium exploration and development companies, is pleased to announce the commencement of activities towards the advancement of all-new helium processing facilities in Montana.
Global Helium has engaged Journey Engineering of Calgary, Alberta, to provide specialized services to develop a pre-FEED (“Front End Engineering and Design”) study for a helium purification facility at Global’s Rudyard, Montana helium asset. The pre-FEED study is expected to be completed by the end of Q1 2023 and will provide a basis of design, including a process flow diagram, equipment list, and Class 4 cost estimate; thereby, allowing Global to model ongoing development drilling plans and to proceed with materials identification and purchasing plans to facilitate construction targets.
As previously announced (see news release dated June 8, 2022), Global’s position in Rudyard, Montana encompasses over 15 square miles of land, and includes a well capable of producing greater than 2.5 mmcf/day of raw gas with a 0.9% helium concentration. This implies 22.5 mcf/day of raw helium production. Management has performed a detailed reservoir analysis on a five square mile area around the Rudyard well which supports moving forward with the pre-FEED study and further development planning on the asset.
A recent BNN Bloomberg article noted wholesale helium pricing in the United States of US$1,500/mcf and 2024 pricing of US$750/mcf. Currently, there is no publicly available market for gaseous helium pricing, as helium sales are negotiated via contracts between buyers and sellers.
Jesse Griffith, President of Global advises, “We look forward to working closely with Journey Engineering and benefiting from their proven track record and helium expertise to bring Global’s Rudyard asset on-stream quickly and efficiently.”
Journey Engineering is a well-established engineering firm and has successfully designed, procured, and installed multiple helium purification facilities across the U.S. and Canada. For more information on the company, please visit: https://journeyengineering.com/.
ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION
For more information:
Walter Spagnuolo, Investor Relations
Tel: +1 (877) 816 8163
mcf = thousand cubic feet
mmcf = million cubic feet
bcf = billion cubic feet
About Global Helium (CSE: HECO) (OTC: HECOF)
Global Helium one of Canada’s largest helium exploration and development companies, focused on the exploration, acquisition, development, and production of helium to meet the needs of increasing helium demand and shrinking helium supply in North America and around the world. The Company has a seasoned team of industry professionals and technical experts and has established connections with North American and international helium buyers. Together, the team has captured 100%-owned permits encompassing over 1.5 million acres prospective for helium in Saskatchewan’s well-established helium fairway and has recently acquired a significant, proven asset in the State of Montana.
Find out more at: https://globalhelium.com/.
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