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NASCO Flow Tests 2 Helium Wells on Hogback at Almost 8% Helium

NASCO has announced results from the flow tests of the first 2 of its 3 well exploration drilling campaign on the 4,480-acre Hogback field, New Mexico. Both wells flowed good gas to surface (no rates released) with pressures in line with the Company's expectations. The gas samples showed helium concentration of 7.828% in the Hogback Deep 12-42 Well in the Barker Creek formation and 7.966% in the Hogback Deep 12-40 Well in the Lower Akah. The wells were drilled in Q1'22 to a depth of ~7,000ft with helium encountered in the Paradox formations. Results are still pending from the 12-41 well after which NASCO will look to bring production online. NASCO has a long-term supply agreement with Praxair (Linde).

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