Imperial Helium Announces Spud of Initial Well at the Steveville Property

Imperial Helium Corp. [TSXV-IHC] has reported their first well, IHC Steveville 1, on its Steveville Helium Property, located in Southeastern Alberta, on schedule.

IHC Steveville 1 is the first of two appraisal wells Imperial Helium plans to drill on the historic Steveville structure. This first well targets the crest of the Steveville structure. With surface casing set, the rig will drill forward and set intermediate casing in the Stettler Formation, before continuing on to a target depth of 2,047 metres. Upon reaching the target objective a comprehensive suite of well logs will be acquired and evaluated, before completing the well and proceeding with production testing. The objective of this first appraisal well is to confirm helium concentrations and flow rates from the Steveville structure established by the historic blow-out in 1940. The well following IHC Steveville 1 will approximately twin the Steveville blow-out.

David Johnson, CEO and Director commented “We are incredibly pleased to spud our first well and have the drill-bit smoothly turning to the right. We look forward to providing shareholders with future updates regarding both well results and those other value-creating initiatives that are planned to follow drilling.”