VANCOUVER, BC, July 25,
2022 /CNW/ - Total Helium Ltd. (TSXV:
TOH) (OTCQB: TTLHF) ("Total Helium" or the "Company")
announces that the largest natural gas producer in the
State of Kansas (or the
"Producer") has exercised its option to purchase 25% of Total
Helium's 3,648 acres near the Boltz Well in the Hugoton Gas Field
of Kansas.
The Company previously entered into a farmout agreement with the
largest natural gas producer in the State
of Kansas to drill the Boltz well on the Producer's oil,
gas, and helium leases. The agreement also established an Area of
Mutual Interest (AMI) near the Boltz well. Total Helium
successfully acquired leases in the AMI. As part of the agreement,
the Producer had the right to purchase 25% of Total Helium's leases
within the AMI. At this time, the Producer has exercised their
option.
Positive implications for both
parties
The Producer's decision to purchase 25% of Total Helium's leases
within the AMI is a positive indicator for both companies. For
Total Helium, the fact that a major private company is taking an
interest in its assets is an indicator that Total Helium is on the
right track when it comes to helium exploration and production. For
the Producer, the purchase of Total Helium's leases demonstrates
that the agreement is yielding valuable assets as part of an
overall beneficial partnership. Lastly, this transaction further
demonstrates the operational synergies between the Company and the
Producer when it comes to bringing helium to a market in desperate
need of additional supply.
"At Total Helium, our ability to work with some of the
world's leading oil and gas and industrial gas companies is
something that we pride ourselves on. We place a tremendous amount
of value on these strategic relationships and today's
announcement reinforces the fact that our partnerships
are mutually beneficial," said Robert B. Price, CEO of Total Helium.
Total Helium is a helium exploration, production and
storage company focused on bringing a reliable domestic supply of
helium to the US market. The Company's footprint includes the
largest continuous conventional natural gas and helium field in
North America, the Hugoton Gas
Field. In addition to its helium production activities, Total
Helium is establishing an underground helium storage facility with
its industrial gas partner to ensure that the United States has a stable supply of
helium at all times into the foreseeable future.
On behalf of the Board,
Robert B. Price, Director and
CEO
Total Helium Ltd. -
www.totalhelium.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Statements included in this announcement, including
statements concerning our plans, intentions and expectations, which
are not historical in nature are intended to be, and are hereby
identified as, "forward-looking statements".
Forward-looking statements may be identified by words
including "anticipates", "believes", "intends", "estimates",
"expects" and similar expressions. The Company cautions readers
that forward-looking statements, including without limitation those
relating to the Company's future operations and business prospects,
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those indicated in the
forward-looking statements.
SOURCE Total Helium Ltd