Imperial Helium Sees Second Well Completed At Steveville
Imperial Helium (TSXV: IHC) continues to plod along on its path to production. The company this morning announced that it has completed its second well at its flagship Steveville property, referred to as IHC-Steveville-2.
Drilling, logging, and casing is now formally completed on the well, with completion and production testing scheduled to commence in the near term. Final testing of the well will occur once such testing is completed on the firms first well, which began a little over a week ago.
The second well was drilled to a total depth of 1,959 metres, making it slightly shorter than the 2,167 metres that the first well was drilled to. Preliminary data reports that a 133 metre section of the targeted Beaverhill Lake Formation was intersected, compared to 152 metres on well 1, with the interval said to be in-line with estimates.
Commenting on the completion of the well, CEO David Johnson stated that data collected to date from the two wells, “support the stratigraphic continuity and potential for reservoir continuity.”
The company is reportedly on schedule to complete a resource estimate within the fourth quarter.
Imperial Helium last traded at $0.375 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
