Helium Evolution holds North America’s largest helium land acreage among publicly-traded companies, concentrated in a historically helium rich area of Saskatchewan.
Our farmout with North American Helium (NAH) accelerates HEVI’s drilling through to 2024, with little capital required, and provides numerous value driving catalysts through 2023 and beyond. In addition, HEVI continues to leverage our skilled technical expertise to focus on internally generated helium resource opportunities, and future drilling prospects across our extensive, world-class land holdings.

Helium Evolution Advantages

  • 5.6 million acres of permitted land
  • Excellent geological data available
  • Unique farmout with an industry-leader, North American Helium (NAH), differentiates HEVI
  • NAH test drilling commenced in Q4/22 and has continued through 2023 and into 2024, with farmout wells not requiring capital from HEVI
  • First helium discovery in Q4/23
  • Two subsequent wells have encountered helium; completion and testing anticipated in Q1/24
  • Strategy for production & offtake
  • Commitment to conservative execution & contingency planning
  • Supportive regulatory jurisdiction & strong government relationships
  • Working capital of $7.8M at Sep 30/23

Massive untapped land position being developed by HEVI directly and via North American Helium farmout

  • Eleven well targets have been drilled and tested to date; seven cased and four drilled & abandoned.
  • First helium discovery announced in Q4 2023 at 2-31 joint well
  • Completion and testing of two wells that encountered helium are currently underway (9-18 joint well and 9-35 farmout well)
  • Farmout wells are 100% funded by NAH (HEVI retains 20% working interest). Joint wells are funded 80% by NAH and 20% by HEVI, with same working interest.
  • HEVI is reviewing ~2,000 km of seismic, which may result in additional prospective locations

Basal Cambrian Sandstone Structure

Radioactive decay of the uranium in Southern Saskatchewan’s basement rocks has produced significant helium reserves.

Up to 2.0%


Over 95%


Potential for continued development at Mankota

Development around Confirmed Discovery:

  • First helium discovery at 2-31 joint well (NAH 80% and HEVI 20%) confirmed in Q4 2023
    • 0.95% helium concentration with steady rates and pressures
    • Potential stimulation and development drilling to be scheduled

Completion & Testing:

  • Completion and testing of the 9-18 joint well and the 9-35 farmout well are ongoing (NAH 80% and HEVI 20%)

Generating Internal Targets:

  • HEVI is in the process of reviewing the ~2,000 km of seismic that it owns over the basin, which may result in additional prospective locations

Subscribe for
updates and reports.

Join the evolution