Helium Explorer First Helium Inc. Seeks to Ride Global Shortage

First Helium Inc. (TSXV: HELI) operates in a niche on the TSX Venture Exchange, focusing on helium exploration while generating revenue from conventional oil production.

The company's operations are centered at Worsley in northern Alberta, where it controls around 53,000 acres of land. This large position is key to its two-pronged strategy: advancing its Charlie Lake shallow heavy oil play and pursuing helium ambitions.

First Helium has made significant discoveries in the Leduc formation, including a 15-25 vertical well that tested natural gas containing about 1.3% helium, a commercially viable concentration. An independent resource assessment attributed roughly 323 million cubic feet of helium to this discovery, with an estimated net present value of $18 million.

The company has also drilled a horizontal well into the Blue Ridge formation at West Worsley, which is ready for completion and testing. Historical offset production suggests helium content around 0.8-0.9%, while a nearby vertical well tested about 1% helium.