First Helium Inc. (TSXV: HELI) (FRA: 2MC) CEO Ed Bereznicki Interview 🎯 RICH TV LIVE
Channel: RICH TV LIVE
Date: 11/01/2022

First Helium Inc. (TSXV: HELI) (FRA: 2MC) CEO Ed Bereznick Interview 🎯 RICH TV LIVE - January 11, 2022 - #firsthelium #edbereznicki #richtvlive #trading #stocks #money #helum #pennystocks #edbereznicki #interview #ceo #education #oil #news #business

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (FRA: 2MC), today announced that it has delivered for sale over 1,100 barrels of light crude oil, realizing over $90,000 in sales revenue for the Company.

"In December, First Helium delivered approximately 1,100 barrels of light oil, produced during flow-testing of its 1-30 discovery well. The sale of that oil signifies the first revenue and a significant milestone for the Company as it continues with its exploration and development of helium gas in the Worsley area," said Ed Bereznicki , President & Chief Executive Officer of First Helium. "Not only does 1-30 establish operating cash flow, but it also has the potential to significantly increase the underlying asset value of the Company," added Mr. Bereznicki.

Based on the production and field level netback assumptions outlined below, First Helium management estimates annualized cash flow of approximately $6 million , which when capitalized at a typical industry field level cash flow multiple of 3.0x, results in potential incremental market value of approximately $18 million attributable to the 1-30 well. In addition, the Company's helium discovery well 15-25 was assigned an un-risked, "best estimate" contingent resource NPV10 value of $15.2 million by Sproule Associates Ltd., independent evaluator, in a report dated March 31, 2021 , referenced by First Helium in its Final Prospectus dated June 28, 2021 . When considered together, these two assets alone indicate a potential aggregate value of over $30 million , prior to giving consideration to First Helium's extensive portfolio of prospective exploration opportunities.

Over the next month, First Helium anticipates that it will complete construction and commissioning of an oil battery at 1-30, including the installation of multiple storage tanks to mitigate seasonal weather impacts, reduce downtime and allow tank treating to minimize operating costs. The Company has procured all equipment necessary for the construction of the oil battery and expects to bring the 1-30 well into full production in early February.

First Helium expects to commence production of light oil from 1-30 at an estimated rate of 400 barrels per day, with expected field netbacks of CA$45.00 to CA$50.00 per barrel based on a current WTI price of US$68.00 to US$73.00 per barrel, which is anticipated to provide ongoing operating cash flow for the Company in mid-Q1. In connection with its March year end, the Company will commission an independent reserves evaluator to prepare an NI51-101 compliant reserve report for 1-30, including a net present value of estimated oil reserves. Lastly, the Company will continue to explore alternatives to maximize the value of 1-30 to further the Company's helium exploration and development strategy.

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