Evolution of Helium | HOSTEL
Helium is an essential resource required in many industrial applications including modern MRI systems, fiber optic production, semiconductors, space exploration and arc welding. The more hi-tech the world becomes, the more helium will be needed, and for most uses there is no substitute available. A recent study suggests that global helium demand could exceed production until 2025, and even last until 2030, due to the expansion of Internet access, increased demand for semiconductors and even advances in quantum computing.
North America has historically been the largest source of helium consumption, with the United States consuming 74 million cubic meters of helium and Qatar second with almost half of consumption at 45 million meters cubes.
HEVI chose southern Saskatchewan for a variety of reasons. First, decaying uranium in basement rocks in the region has produced large helium reserves throughout southern Saskatchewan. Second, Helium Evolution’s target geological formation, known as The Deadwood, contains up to 2.0% proven helium and over 95% nitrogen. Existing geophysical data is readily available and will help Helium Evolution select the best drill targets.
Why is this important? The presence of nitrogen as a carrier gas allows Helium Evolution to vent the gas in an environmentally friendly manner while providing cost advantages during the helium extraction and liquefaction processes. Additionally, helium drilling is similar to conventional natural gas extraction, meaning no specialist equipment is required and management’s existing oil and gas development expertise can be leveraged. to profit. Low-cost vertical drilling is all HEVI needs to start mining.
HEVI is led by an impressive management team with a combined 150 years of resource development experience, including engineering, geology and general management in the corporate landscape. CEO Greg Robb has 35 years of direct experience in Western Canada where he focused on the acquisition and development of the region’s natural resources. Patrick Mills, Chief Operating Officer, also brings over three decades of leadership, management and engineering experience in Western Canada. Meanwhile, Vice Chairman John Kanderka has 40 years of directly applicable experience in the energy and minerals sectors, serving as a leader in both public and private entities. The management team is complemented by a very strong Board of Directors, which includes former Saskatchewan Premier Brad Wall and senior energy executives Mike Graham, Philip Hughes and James Baker.
- HEVI capitalizes on the untapped potential of Saskatchewan’s helium resource
- The Company holds land rights to over 5 million acres with a pending application for an additional 1 million acres, representing the largest package of land held by a public company in North America.
- HEVI’s holdings in Saskatchewan position the company in a resource-friendly province with a skilled local workforce and supportive government
- HEVI focuses on extracting helium from wells containing nitrogen as a carrier gas, creating an environmentally friendly operation that will also create a cost advantage during the extraction and liquefaction processes.
- The HEVI ground package contains large helium targets created by radioactive decay; existing exploration data will help the Company select drill targets with higher probabilities of success
- The company is led by an impressive management team with a combined 150 years of experience in resource development and executive leadership
Helium Evolution is targeting a geological formation known as the Deadwood Sand Reservoir for initial exploration and development. Several drill targets for near-term development have already been identified. Seismic data from these targets is being analyzed prior to the start of drilling.
- Existing geophysical data: Helium Evolution has acquired a significant amount of data including well logs, aeromagnetic data and seismic data to evaluate the best drill targets
- Simple drilling process: Helium drilling is similar to conventional natural gas drilling, requiring only a vertical drill and requiring no specialized equipment or fracture stimulation
- Nitrogen Carrier gas: Nitrogen is the main carrier gas, allowing environmentally friendly ventilation and a cost advantage during extraction and liquefaction
- Wells nearby: A nearby helium development, the Mankota Pool, has demonstrated a nitrogen-rich reserve with a helium content of 1.08% and has a nearby helium production facility.
- Short term drilling: Initial drilling is expected to begin in Q2-Q3 2022 on 4 test wells selected based on seismic data. Helium Evolution’s goal is to complete the drilling program and begin crude helium production Q1-Q2 2023.
Greg Robb – Chairman and CEO, Director
Greg Robb brings over 35 years of experience in all facets of the Western Canadian energy resources business, including exploration and development, acquisitions and dispositions, and reserve evaluations. He previously held management positions in several E&P companies and founded Salvo Energy Corp. in 2006. He has extensive experience in heavy oil, shallow gas, coal bed methane, deep tight gas and conventional oil and gas plays, valuing over $500 million. assets acquired.
Patrick Mills – COO
Patrick Mills has over 36 years of leadership, management, engineering and operating experience in the Western Canadian Sedimentary Basin. He previously founded Mustang Resources and Pegasus Oil & Gas where he held executive and board positions, as well as technical and executive roles at Texaco, Imperial Oil Ltd and Startech Energy.
Ryan Tomlinson – Chief Financial Officer
Ryan Tomlinson holds the Chartered Professional Accountant (CPA) and Certified Management Accountant (CMA) designations. He has extensive experience in financial accounting with national and international private and public oil and gas companies and has raised capital in the private and public markets. He held key positions with increasing responsibilities as Controller and Chief Financial Officer.
John Kanderka – Vice President, Corporate Development
John Kanderka has over 40 years of experience in the energy and minerals sectors as an executive and director of private and public entities. Previously, he founded several companies, which gave him extensive experience in corporate finance, mergers and acquisitions, takeovers and corporate restructuring. He is currently a director of Orestone Mining Corp. and Chairman and Founder of Visionary Gold Corp.