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.
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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.
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.
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.
Brad Nichol, P. Eng., MBA
Executive Chairman, Interim CEO
Brad Nichol is a mechanical engineer with 25+ years’ experience in oil field operations, business consulting, and as an oil and gas executive and board member in Canada, the United Kingdom, the United States, and South America.
Mr. Nichol has worked extensively on producing oil and gas fields in Canada and Colombia and recently on (re)-establishing commercial Helium production in Canada. He has participated in identifying or acquiring more than 30 bcf of natural gas and 4.5 million barrels of oil in North America. Brad brings access to an experienced network of engineering, operational and finance professionals in Calgary, Toronto, London, New York and Switzerland. In addition to completing his Bachelor of Science in Mechanical Engineering, Brad also received a Masters in Business Administration, with honors, from the London Business School.
Brad is currently the President and CEO of Alpha Lithium Corp, an environmentally responsible lithium explorer and producer in Argentina.
Chris Cooper, B.A., MBA
Chris Cooper has over 20 years of experience in management and finance in the oil and gas, mining and technology industries. Mr. Cooper received his B.A. from Hofstra University and his MBA from Dowling College, both in New York State. He has been involved in the creation and funding of several oil and gas issuers including Choice Resources Corp., an intermediate oil and gas producer before it was taken over in August 2007 by Buffalo Resources Corp.
Mr. Cooper also sits on the board of other junior public companies, including: Counterpath Corporation; Westridge Resources Inc. (CSE); Bullion Gold Resources Corp. (TSX.V); and Planet Mining Exploration Inc. (TSX.V). He has sat on the audit committee of many public companies in several different industry sectors and has a broad comprehensive knowledge of financial reports.
Rod Nichol, B. Comm, MBA
Rod Nichol is an entrepreneur, senior adviser and private investor primarily based out of Vancouver. Over his 23-year financial services career, he was the Managing Director of Lionsgate Capital Limited, a principal investment and advisory firm which he founded in Hong Kong in 2010, and a senior investment banker, based in London, with Merrill Lynch, Dresdner Kleinwort, and The Europa Partnership LLP. He has originated and executed numerous notable transactions globally, having been directly involved in over USD60bn (equiv.) in transaction value.
He has an MBA from London Business School and a Bachelor of Commerce degree from the Sauder School of Business at the University of British Columbia.
Wes Siemens, P. Eng.
Wes Siemens was most recently President of Global Helium and previously the founder, President and CEO of a private-equity funded, energy exploration company, based in Western Canada. Wes began his career in 1993 at Canadian Occidental Petroleum Ltd. and held several technical and management positions over 21 years throughout its evolution to Wascana, Nexen, and CNOOC Ltd. Mr. Siemens held international and senior management positions in the company included Operations, Corporate Planning and Business Development, Business Development Africa and Middle East, Oil Sands and Technical Excellence. He has accumulated extensive experience in M&A, including billions of dollars of transactions. Wes received his Bachelor of Science Degree in Mechanical Engineering from the University of Alberta and completed an Executive Leadership Program at Oxford.
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