First Helium Agrees to Acquire Heavy Oil Assets in Alberta's Worsley Area

First Helium agreed to acquire shallow heavy oil assets in Worsley, Alberta, effective January 1, 2026. Asset retirement security requirements, including purchase consideration, total approximately $7.8 million, subject to Alberta Energy Regulator review. Reactivating six wells targets approximately 300 barrels per day, potentially rising to 400 barrels per day through additional reactivations. The acquisition includes 5,760 net acres with 11 identified horizontal drilling locations. Closing requires financing, regulatory approvals, license transfers and satisfaction of asset retirement security requirements. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. First Helium Inc. published the original content used to generate this news brief via (Ref. ID: 202610141755ACCESSWRNAPR_____1237014) on October 14, 2026, and is solely responsible for the information contained therein. (C)