REG - Helix Exploration - Commencement of Drilling Inez #1

Helix ExplorationAnnouncement

23/06/2025 07:00

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RNS Number : 8945N  Helix Exploration PLC  23 June 2025

23 June 2025

 

Helix Exploration PLC

("Helix Exploration" or "Helix" or the "Company")

Commencement of Drilling Inez #1

Plant Construction Update

 

Helix Exploration, the helium exploration and development company with
near-term production assets within the 'Montana Helium Fairway', is pleased to
announce the commencement of drilling at Inez #1 drill location, the
( )fourth production well at the Rudyard Project, Montana.

Highlights:

·    Drilling has commenced at Inez #1, the fourth production well at
Rudyard, testing known helium reservoirs within the Souris and Red River
formations

·    Situated approximately two miles south of Linda #1, and is the first
well on the southern dome

·    Drilling will take c.10-14 days to complete, followed by wireline
logging and extended flow tests

·    Plant mobilisation commenced

·    On-site plant pad construction work to commence this month

Bo Sears, CEO of Helix Exploration, commented:

"Spudding Inez #1 marks another meaningful step forward for Helix as we build
on our successes at Rudyard. The well targets two of the same formations that
are already known to contain helium within our acreage, but is the first well
in the southern dome.  Therefore, a successful test here will allow us to
significantly expand our reserves.

"Meanwhile, our membrane systems are enroute from Germany, bringing us closer
to operational readiness. We remain focused on disciplined execution as we
transition toward production and unlock the full potential of our northern
Montana assets."

Inez #1

Helix has commenced drilling at Inez #1, the fourth production well to be
drilled on the Rudyard field.   The Inez #1 well, located approximately two
miles south of the Linda #1 well, is designed to test two proven
helium-bearing formations: the Souris River Formation and the Red River
Formation, both of which have demonstrated commercial potential elsewhere in
the region.

Inez #1 is the first well to be drilled in the southern dome.  As announced
on 23 January 2025, the southern dome currently has 2C gross contingent
resources of 280 million cubic feet of helium.  A successful flow test within
the southern dome could upgrade these contingent resources to reserves,
further de-risking the subsurface potential of Rudyard and increasing the
proven commercial assets of the Company.

Drilling is expected to take circa 10 - 14 days to complete, following which
the Company will move immediately to wire-line logging and flow testing.  The
Company will keep the market updated as drilling completes.

Plant Update

Plant construction on site at Rudyard will commence within the next two weeks
with the creation of foundation footings for processing plant modules which
have been manufactured off-site.

The membrane unit module has already been mobilised from Germany and is
expected in at the Wikota Engineering facility in Brookshire, nr Houston,
Texas, within the next few weeks.  The membrane unit sits in front of and
enriches flow into the PSA module by removing excess nitrogen prior to further
processing.

Refurbishment and testing of the PSA plant module has been completed.  Final
assembly and integration will take place upon arrival of the membrane unit,
with plant mobilisation to Montana expected before the end of July 2025,
subject to fabrication timing and weather conditions.

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation, and the Directors of the Company are responsible for
the release of this announcement.

 

Enquiries

Helix Exploration

 Bo Sears       via Camarco
 David Minchin  info@helixexploration.com

Cairn - Nominated Adviser

 Liam Murray          +44 (0)20 7213 0880
 Ludovico Lazzaretti
 James Western

 

Hannam & Partners - Joint Broker

 Neil Passmore      +44 (0)20 7907 8502
 Leif Powis

 Tavira Financial  - Joint Broker
 Chris Kipling                         +44 (0)20 7100 5100

 Oliver Stansfield

 Jonathan Evans

Camarco - Financial PR

 Emily Hall     +44 (0)20 3757 4980
 Tilly Butcher  helixexploration@camarco.co.uk

 Billy Clegg

 

Notes to Editors

Helix Exploration is a helium exploration company focused on the exploration
and development of helium deposits within the 'Montana Helium Fairway'.
Founded by industry experts with extensive experience of helium systems in the
US, the Company listed in April 2024.

Helix is focused on production at its Rudyard Project in northern Montana,
taking advantage of existing infrastructure and low-cost processing to target
first gas in 2025. The Company has three production wells targeting up to
236ft Helium / Nitrogen gas in the Souris and Red River formations, flowing up
to 3,800 Mcf/day at 1.2% helium. Rudyard field can support multiple production
wells and has potential to generate net revenue of $115 - $220 million over a
12.5 year life of field.

Helix is committed to open and transparent communication with investors and
the wider market as the project progresses through development into
production.

"Our approach is simple: build scale efficiently, develop resources
strategically, and deliver near-term cash flow." CEO - Bo Sears

The Company's Admission Document, and other information required pursuant to
AIM Rule 26, is available on the Company's website
at https://www.helixexploration.com/ (https://www.helixexploration.com/) .

 

 

 

 

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