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The Helium Act of 1925 authorized the Bureau of Mines (“BLM”) to build and operate six helium plants.
In 1960, Congress changed the federal government’s role from producer to conservator and contracted with natural gas producers to sell crude helium to the federal government for storage.
In 1996, Congress approved the Helium Privatization Act, ordering the U.S. government to sell off most of the 29 Bcf of Helium reserves. BLM set price averages $40-$70/mcf, designed to pay down BLM debt – not tied to market price
In 2013 - Congress approved the Helium Stewardship Act, to auction off and turn over all remaining helium assets, including the remainder of the federal stockpile, to private industry.
BLM increases price to $84/mcf
In 2015, the Global Helium team set out to become technical experts and build downstream relationships, based upon the “shrinking supply” and “growing demand” opportunity. The team was self-funded and received multiple offtake commitment letters in addition to securing a significant land base.
Final BLM helium sale, brought a sense of panic amongst buyers and the highest price reached US$330/mcf with an average price of approximately US$300/mcf.
Federal Helium storage remaining in the US is estimated to be only 2.5 Bcf in October 2021, all of which is exclusively reserved for US government usage.
September 30, 2021 BLM will no longer manage a Federal Helium Reserve – none is accessible to private buyers.
The Helium Act of 1925 authorized the Bureau of Mines (“BLM”) to build and operate six helium plants.
In 1960, Congress changed the federal government’s role from producer to conservator and contracted with natural gas producers to sell crude helium to the federal government for storage.
In 1996, Congress approved the Helium Privatization Act, ordering the U.S. government to sell off most of the 29 Bcf of Helium reserves. BLM set price averages $40-$70/mcf, designed to pay down BLM debt – not tied to market price
In 2013 - Congress approved the Helium Stewardship Act, to auction off and turn over all remaining helium assets, including the remainder of the federal stockpile, to private industry.
BLM increases price to $84/mcf
In 2015, the Global Helium team set out to become technical experts and build downstream relationships, based upon the “shrinking supply” and “growing demand” opportunity. The team was self-funded and received multiple offtake commitment letters in addition to securing a significant land base.
Final BLM helium sale, brought a sense of panic amongst buyers and the highest price reached US$330/mcf with an average price of approximately US$300/mcf.
Federal Helium storage remaining in the US is estimated to be only 2.5 Bcf in October 2021, all of which is exclusively reserved for US government usage.
September 30, 2021 BLM will no longer manage a Federal Helium Reserve – none is accessible to private buyers.
The disappearance of the global helium reserve in the US creates greater opportunity for helium exploration in the Canadian Prairies.
(Cormark Securities Inc. July 2, 2020)
Canada offers an attractive environment for helium extraction given the availability of:
Drilling for helium is nearly identical to the process of drilling for natural gas, an industry which generated massive data on helium. Unlike the USA, this data is reliably available within the historic oil and gas field records of the Canadian prairies.
The disappearance of the global helium reserve in the US creates greater opportunity for helium exploration in the Canadian Prairies.
(Cormark Securities Inc. July 2, 2020)
Canada offers an attractive environment for helium extraction given the availability of:
Drilling for helium is nearly identical to the process of drilling for natural gas, an industry which generated massive data on helium. Unlike the USA, this data is reliably available within the historic oil and gas field records of the Canadian prairies.
Market Cap
$56.2 million
Market Cap
$28.2 million
Market Cap
$92.0 million
Market Cap
$37.5 million
Market Cap
$56.2 million
Market Cap
$28.2 million
Market Cap
$92.0 million
Market Cap
$37.5 million
An industry experienced team aiming to explore & develop this scarce and increasingly valuable resource to meet the growing demands of industry, government, medicine, and research.
Jesse Griffith
CEO
Vice-President , Geosciences
Duncan MacKenzie is a geoscientist with 20+ years’ experience with all aspects of finding and commercializing industrial gases primarily in western Canada. Duncan has also worked as a geoscientist on U.S., South American, and West African projects.
He is well versed in gas reserve evaluations and is privileged to be part of a network of skilled and experienced geoscientists focusing on environmentally friendly, non-combustible gases. He has been working on rare gas exploration since 2015.
CFO
Nathan Steinke is a chartered professional accountant with over 18 years of experience leading the finance functions for both public and private companies in the international resource sector.
Since 2003, Mr. Steinke’s responsibilities have comprised of all financial aspects of the companies including; debt and equity financings, corporate structure design and management, cash flow management and forecasting, legal and regulatory compliance, stakeholder engagement and reporting, dual listing execution and management, and risk management.
Jesse Griffith
Director
Kevin Cameron
Director
Mr. Cameron has an extensive background across multiple industries, most recently as the CEO of Ionetix Corporation, a cutting-edge diagnostics and therapeutics company that manufactures superconducting cyclotrons for the point-of-care production of PET radioisotopes. Kevin is also the Executive Chairman and co-founder of Glass Lewis, the world’s second largest corporate governance and proxy advisory services firm. He served as President and General Counsel from 2003 to 2007, and then on Glass Lewis’ Research Advisory Council from 2007 to 2019. Prior to co-founding Glass Lewis, he was general counsel of Moxi Digital, a technology venture that was sold to a company controlled by Microsoft co-founder Paul Allen. Previously, he was the general counsel at NorthPoint Communications, a publicly traded broadband telecommunications company. Kevin was an attorney with the corporate law firm of Kellogg, Huber, Hansen, Todd & Evans in Washington D.C. and served as a law clerk to the Hon. James L. Buckley of the United States Court of Appeals for the District of Columbia Circuit.
Darcy Spady
Director
Mr. Spady holds a Bachelor of Science degree in Petroleum Engineering from the University of Alberta and brings close to 40 years of energy industry engineering and leadership experience. Mr. Spady is currently the Managing Partner and co-founder of Carbon Connect International, a firm working with governments and the private sector to build technical capacity and develop pathways to achieve net zero emissions targets. Prior to co-founding Carbon Connect International, Darcy was the first ever Canadian President for the Society of Petroleum Engineers. (International) after being elected to the position for 2018. Prior to that, Darcy held executive and management positions at two Calgary-based TSX Venture Exchange companies and a Calgary-based global energy services company. Prior to moving to Calgary, Mr. Spady was based in Charleston, West Virginia and Fredericton, New Brunswick, serving in various management positions as part of the Columbia Natural Resources / Triana Energy team, that sold to Chesapeake Energy for $2.2 billion USD in 2005. The combined experience and leadership of Mr. Cameron and Mr. Spady will help HECO navigate the evolving landscape of helium development and guide the Company through its next phase of growth.