Helium Evolution Announces Seismic Program, Pooling Agreement and Provides Operations Update

Core Viewpoint - Helium Evolution Incorporated (HEVI) has announced the initiation of significant seismic programs and a pooling agreement with North American Helium Incorporated (NAH), aimed at enhancing helium exploration and development in southern Saskatchewan [1][2]. Pooling Agreement and Seismic Program - HEVI and NAH have entered a pooling agreement covering approximately 40,000 acres in the Grasslands/Mankota area, with a land split of 51% for NAH and 49% for HEVI [2]. - The pooling agreement includes both 100%-owned acreage from each party and undeveloped acreage previously held at an 80% NAH / 20% HEVI working interest, which will now be revised to the new split [2]. - A 3D seismic program covering about 170 square kilometers is being initiated, expected to enhance subsurface understanding and reduce drilling risk [3][4]. Financial Aspects - The 3D seismic program is projected to cost approximately $4.9 million gross, with HEVI's net share being $2.4 million [4]. Operations Update - The Soda Lake Facility has been temporarily placed on standby due to production levels falling below operational requirements, necessitating further optimization [7]. - The 3D seismic program is expected to inform the development strategy for the Soda Lake Facility, potentially allowing for quicker tie-ins of successful wells [8][11]. Future Plans - Drilling targets are anticipated to be finalized following data interpretation in Q2-2026, with drilling expected to commence around September 1, 2026 [9]. - Successful wells could lead to the reactivation of the Soda Lake Facility and production from the Mankota/Grasslands area [9][10]. Strategic Outlook - HEVI's partnership with NAH is designed to share costs and risks, enabling a broader scope of exploration and development initiatives in 2026 [10]. - The company aims to build a scalable helium asset base in one of Canada's most prospective helium-producing regions [11][13].