Imperial Helium Corp. has successfully drilled, logged, and cased its first well, IHC Steveville 102/03-01-020-12W4, on its historic Steveville helium asset, in southeastern Alberta.

“As soon as is practical, the company will commence completion and production testing of the well, and begin field operations in preparation for drilling the second well in our program, IHC Steveville 103/10-22-020-12W4,” said the company.

Steveville 02/03-01, the first appraisal well of the Steveville structure, reached a total depth of 2,167metres and penetrated the crest of the structure, as expected. Preliminary petrophysical analysis of well logs confirms the presence of a 152-metre section of the Beaverhill Lake Formation. The depth and thickness of the gas-saturated intervals calculated from logs are in line with pre-drill estimates and are consistent with those identified in the original Steveville blowout and four other wells penetrating the structure.

“The preliminary results of this first appraisal well are tremendously encouraging and support management’s estimate of at least 1.1 BCF of recoverable helium from the Steveville structure,” said David Johnson, director and CEO. “Shortly, we will commence production testing to appraise reservoir quality and deliverability potential.

“In addition, we will begin drilling IHC Steveville 03/10-22, the second appraisal well directly offseting the Steveville blowout. We remain on schedule with our plan to complete an independent resource assessment of the pool during the fourth quarter of 2021.”

Imperial Helium’s Steveville property is situated over a large basement dome with four-way closure, approximately 200 kilometres east of Calgary and 40 kilometres northeast of Brooks. Highways 544 and 876 cross the structure, providing easy access for drilling and development. The property includes land leased from Heritage Royalty Resource Corporation covering 24,635 hectares (95 square miles), with rights for natural gas (including helium) below the base of the Big Valley and Nisku formations.

Petrel Robertson is a founding partner of Imperial Helium, and PRCL President Brad Hayes is Co-Chair of IHC’s Board of Directors.