Imperial Helium Begins Drilling Second Well At Steveville

Imperial Helium (TSXV: IHC) continues to simply do the work. The firm this morning announced that it has spud its second well at its flagship property in Alberta, known as the Steveville Property.

The well itself is referred to as an appraisal well, with two such wells to be drilled on the property. Drilling is again targeting the Steveville structure, with the well itself being an offset well to both the first well drilled by Imperial on the property, as well as the historic Steveville blowout well that was drilled in the 1940’s.

The second well is currently slated to be drilled to a depth of 2,170 metres, similar to the 2,167 metres the first well on the property was drilled to. The company intends to first set casing in the Nisku Formation before proceeding to this depth, after which the company will collect well logs before finishing the well. The company is aiming to further confirm helium concentrations within the structure as well as flow rates, which were initially established in 1940.

“The successful drilling, logging and casing of our first well at 102/03-01-020-12W4, confirmed our technical view of the Steveville structure. Production testing of IHC-Steveville-1 will begin soon, with production testing of IHC-Steveville-2 to follow.”

David Johnson, CEO

Imperial Helium last traded at $0.34 on the TSX Venture.

FULL DISCLOSURE: Imperial Helium is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Imperial Helium on The Deep Dive, with The Deep Dive having full editorial control. Additionally, the author personally holds shares of the company. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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