11:59 AM EDT, 06/17/2024 (MT Newswires) -- Helium Evolution ( HEEVF ) on Monday reported a delay in the stimulation of a well within its Mankota helium discoveries in Saskatchewan.

The company said the 9-18-3-8W3 well stimulation is now anticipated to take place later in June or in July. Helium Evolution ( HEEVF ) attributed the delay to higher-than-normal rainfall impacting surface conditions of the site.

The company added that it is working on acquiring surface leases for several drilling locations on four sections of recently acquired land.

Helium Evolution ( HEEVF ) and its partner North American Helium are also working together to finalize drilling locations and acquire surface leases for up to nine joint development wells in the Mankota area. The new wells are expected to spud between the third quarter of this year and the second quarter of 2025.

Helium Evolution's ( HEEVF ) shares were last seen up $0.01 to $0.145 on the TSX Venture Exchange.

Price: 0.15, Change: +0.01, Percent Change: +7.41