Royal Helium Resumes Climax Field Operations and Appoints Shayne Neigum as Manager of Well Operations
SASKATOON, SK, July 6, 2021 /CNW/ - Royal Helium Ltd. ("Royal" or the "Company") (TSXV: RHC) (TSXV: RHC.WT) (OTCQB: RHCCF) is pleased to announce that it has resumed the resource and reservoir testing program ("Completions Program") of the remaining untested helium zones of interest up hole from the recently reported Regolith discovery zone (~2,600m depth) in the Climax-3 well. The intervals being tested are in the Wymark zone at approximately 1,800 meters depth. This completions program is expected to take 10-14 days after which the service rig and completions team will move to Climax-2. Once the service rig moves to Climax-2, Royal plans to immediately spud Climax-4.
The Climax-4 well is designed as a production offset to Climax-3 and will be specifically targeting the newly discovered Regolith zone. Core samples from the Regolith will be analyzed to determine the most effective method of producing the helium from this 100 meter (328 feet) thick zone.
Royal is also very pleased to announce the appointment of Mr. Shayne Neigum, B.Sc. Honours, as Manager of Well Operations for the Company's helium exploration and production ("E&P") programs in southern Saskatchewan. Having been involved in the drilling of hundreds of oil & gas wells in Western Canada, Mr. Neigum has extensive experience in E&P project management, geo-steering, and wellsite supervision.
Andrew Davidson, President and CEO comments, "Shayne successfully managed our maiden well program earlier this year as a consultant and we are very happy to now bring Shayne into Royal's corporate fold. His experience is a great asset for Royal in planning and managing current and future programs. Shayne seamlessly transitions over as we recommence our completions program, work to bring the first 3 wells on production and start our new, seven well drilling program."
Royal also announces the grant of 2,850,000 incentive stock options with a strike price of $0.60. The options vest immediately and, if not exercised, will expire on July 2, 2026. Of the total, 1,750,000 were issued to officers and directors, with the remainder issued to consultants.
Royal Helium Ltd.
Royal Helium is focused on the exploration and development of helium production in southern Saskatchewan. With over 1,000,000 acres of prospective helium lands held under a combination of permits, leases and applications, Royal is one of the largest helium rights holders in North America. Located next to highways, roads, cities and, importantly, existing oil and gas infrastructure, Royal's projects were methodically evaluated for helium potential and have been vetted by helium experts, professional geologists and engineers.
For more information, please contact Andrew Davidson, the Chairman, President and CEO of the Company.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
SOURCE Royal Helium Ltd.
Andrew Davidson, CEO, Royal Helium Ltd., 1 (306) 653-2692, [email protected]
Share this article