Cloudbreak Discovery PLC (LON:CDL) said that Imperial Helium Corp., a company in which it has a 1.25% interest, has spudded its first well at the Steveville Helium Property in Southeastern Alberta.

The new well, IHC Steveville 1, is the first of two appraisal wells Imperial Helium plans to drill on the Steveville structure. This first well targets the crest of the Steveville structure. With surface casing set, the rig will drill forward and set intermediate casing in the Stettler Formation, before continuing to a target depth of 2,047 metres.

Upon reaching the target objective, a comprehensive suite of well logs will be acquired and evaluated, before completing the well and proceeding with production testing.

“This is a very positive step for Imperial Helium at Steveville and the team should be incredibly pleased to have reached this milestone,” said Kyler Hardy, chief executive of Cloudbreak Discovery.

“I look forward to working with them on this project as they work to establish the resource available.”


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