TSXV: HELI     OTCQX: FHELF    FRA: 2MC

A PREMIUM HELIUM PROJECT


WORSLEY AREA

  • 60,000 Acres on Core Project, 100%-Owned, multiple drill locations
  • “15-25” Discovery Well Tested 1.3% Helium, 3rd Party Evaluation
  • Peer-group-leading helium resource, target production H2 - 2024
  • Ten-year, take-or-pay, with first 5 years firm price, helium offtake sales agreement and 20% volume availability for direct/alternative sales strategies
  • “14-23” Horizontal Helium Target Sets Up Potential Regional Play

group 167

 

 


First Helium Contingent resources report | Discovery well 15-25

 

Volumes

Helium
mmcf

Natural Gas
mmcf

Natural Gas Liquids
mbbl

323

12,632

372

Net Present Values

0%
$MM

5%
$MM

10%
$MM

$78,282

$32,158

$15,243

Sproule Associates Ltd. (“Sproule”) Report Unrisked Best Estimate Contingent Resources 1

  • Capital required: $10.5MM for single well facility to produce Discovery Well
  • Helium pricing assumption: constant $340/mcf adjusted for transportation
  • Other product pricing: Sproule March 31, 2021 forecast

NPV 10%

$300 / mcf
$MM

$340 / mcf
$MM

$400 / mcf
$MM

$500 / mcf
$MM

$600 / mcf
$MM

$12.1

$15.2

$19.9

$27.7

$35.5

 

Sproule Unrisked Best Estimate Contingent Resources

  • Sensitivity to helium pricing prepared by First Helium Management
  • Helium Prices in Canadian Dollars, Base Case $340 per mcf
 

1. See First Helium’s Final Prospectus dated June 28, 2021, filed on First Helium’s SEDAR profile at www.sedar.com for additional information.

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