This past Friday the Royal Helium Ltd (OTCMKTS:RHCCF) stock was trading in a range but at the same time it is also necessary for investors to keep in mind that the company had also made a key announcement that ought to be looked into.
Trading Data
On Friday, RHCCF stock fell 1.78% to $0.31 with more than 6.4k shares, compared to its average volume of 47K shares. The stock moved within a range of $0.3098 – 0.3149 after opening trade at $0.31.
Royal Helium Commences 3D Seismic over Climax/Nazare and 2D Seismic over Val Marie South Block
The company announced on Friday that it had flagged off a pair of seismic programmes in the south western region of Saskatchewan. The programmes that the company launched were both being conducted in collaboration with RPS Energy Canada, which is the company’s geophysical and seismic contractor. It was a major new announcement from the company but it did not lead to any particularly excitement from investors and the stock remained within a range.
Royal Helium also announced that it was going to conduct 39 kilometres through 3D seismic and it will be conducted in the central are of Climax. The 3D is going to help the company in further advancing the development modelling that is in place. At this point in time, it could be a good idea for investors to consider adding the stock to their watch lists and keep an eye on the upcoming developments.
Key Quote
Stephen Halabura, VP Exploration comments, “With our recently announced results from the successful 100 meter frac program at Climax 4, the 3D program will provide enhanced reservoir and structural resolution as well as extend coverage to the north of the currently delineated Nazare zone. The 3D will be used to advance our development modelling, production planning and expansion not only for the Nazare reservoir but also for the conventional helium zones in the Duperow and Souris River formations above Nazare. Integration of the 3D seismic to our current subsurface database will provide further guidance for the development of the conventional helium traps intersected in earlier drilling, which tested inert gas flow up to 1.8 mmcf per day during initial testing.
