REG - Helix Exploration - Flow Testing Update for Linda #1 and Weil #1

Helix ExplorationAnnouncement

07/05/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250507:nRSG5809Ha&default-theme=true

RNS Number : 5809H  Helix Exploration PLC  07 May 2025

07 May 2025

 

Helix Exploration PLC

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

Mobilisation of Flow Testing Equipment to Linda #1 and Weil #1

Helix Exploration, the helium exploration and development company with
near-term production assets within the 'Montana Helium Fairway', is pleased to
provide an update on flow testing scheduled for Linda #1 and Weil #1 within
the Company's Rudyard Project.

Highlights:

·    Mobilisation of work-over rig and testing equipment to commence this
week

·    Testing will commence with perforation at Weil #1 well testing
combined flow from helium bearing Souris and Red River formation

·    Work-over rig will then move to Linda #1 well to test helium bearing
horizons

·    Testing is expected to take approximately ten days on each well with
results to be announced from each well separately once helium assays have been
received

Bo Sears, CEO of Helix Exploration, commented:

"The imminent testing of two promising helium zones at Linda #1 and combined
flow potential from the same zones in Weil #1 are key milestones towards our
goal of being a leading onshore US helium producer."

"The encouraging oil shows encountered in the Duperow Formation have not gone
unnoticed. While not the current focus, the scale and quality of these shows
is exciting, and we intend to examine them more closely in future wells. This
is a large, underexplored field, and we believe the Rudyard Project has
potential beyond helium."

Background to flow testing

Helix Exploration is commencing the mobilisation of a work-over rig and flow
testing equipment to Weil #1 and Linda #1 wells. The unit will be used to
perforate and test two helium-bearing formations identified during drilling,
in alignment with the Company's core strategy to advance near-term helium
production.

The Company will commence testing operations at Weil #1 well.  Weil #1 has
previously been tested at 0.9% - 1.1% helium with good flow rates from
separate perforations in the Souris and Red River formations.  Helix plans to
re-enter the Weil #1 well and create a single perforation to test both
formations simultaneously, including any pay in potential fracture porosity
between the two reservoirs.  It is anticipated that this completion will
produce higher absolute flow rates and allow for better production profile in
line with Darwin #1 and Linda #1 when helium processing commences over summer
2025.

The Linda #1 well was cased to surface following the successful completion of
drilling, which included multiple gas shows and strong indications of
helium-rich intervals. The Company plans to test the Souris and Red River
formations in a single perforation across both intervals, as at both Weil #1
and Darwin #1.  Perforation and testing is expected to take roughly ten days
on each well with results to be announced from individual wells once helium
assays have been received.

The Linda #1 well also encountered encouraging oil shows within the Duperow
Formation - an extensive carbonate reservoir across the 15,000-acre Rudyard
Field. While the Company's immediate focus remains on proving up helium
resources and feeding its processing infrastructure, the Duperow oil zone
presents an intriguing longer-term opportunity. Helix intends to further
evaluate this zone as part of its upcoming drilling campaign, beginning with
the Inez #1 well.

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

The Company has drilled two wells on two assets in 2024. Darwin #1 well at
Rudyard Project tested 276ft in the Souris and Red River formations, flowing
2,750 Mcf/day at 1.1% helium. Rudyard field can support multiple production
wells and has potential to generate net revenue of $115 - $220 million over a
12 - 14 year life of field.

Helix Exploration is fully funded and focused on production, taking advantage
of existing infrastructure and low-cost processing to target first gas in
2025. 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/) .

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDPKABPKBKBQPK