REG - Helix Exploration - Helium Sales Arrangement

Helix ExplorationAnnouncement

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RNS Number : 9694E  Helix Exploration PLC  20 May 2026

20  May 2026

 

Helix Exploration PLC

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

 

Helium Sales Arrangement

Helix Exploration PLC (AIM: HEX, OTCQB: HEXFF), the helium exploration and
development company advancing the Rudyard Helium Project ("Rudyard") in
northern Montana, is pleased to announce that it has agreed terms for an
initial short-term spot sales arrangement (the "Arrangement") with an
industrial gases group (the "Counterparty") for the supply of helium produced
at Rudyard. The Arrangement represents the Company's first contracted route to
market for helium produced at Rudyard.

 

Highlights

 * First revenue-generating helium sales arrangement secured, marking the
Company's commercial debut in the helium market following the commencement of
production at Rudyard on 23 February 2026.

 * Pricing reflects current prevailing spot market rates and significantly
exceeds the Company's pre-IPO model assumptions. Commercial terms, including
the identity of the Counterparty and the specific price, are confidential
between the parties, as is standard practice in offtake arrangements of this
nature.

 * Production is currently from three wells; with further wells available for
acceleration as the Arrangement scales.

 * The Counterparty has committed to take 100 per cent. of helium volumes
available for delivery from Rudyard for an initial period of approximately
three months, with both parties anticipating an extension given current market
conditions.

 * Initial expected delivered volumes of approximately 30 to 40 Mcf per day.

 * The Counterparty has agreed to arrange additional trailer capacity to support
a continuous rotation, removing any logistics bottleneck on Helix's ability to
deliver volumes.

 * The Company continues to advance discussions for longer-term and larger-volume
arrangements, consistent with the Board's strategy of building a diversified
route-to-market portfolio.

 

Background and operational detail

Following first helium production at Rudyard, as announced on 23 February
2026, the Company has been engaged in active commercial discussions with a
number of potential offtake partners. The Board's stated strategy has been to
secure a mix of short and longer-term arrangements as production scales,
commencing with spot transactions that establish market relationships and
generate near-term cash flow, while progressing towards longer-term contracted
volumes.

The Counterparty is a large industrial gases group. Its decision to commit to
100 per cent of Helix's deliverable volumes and to proactively arrange
supplementary trailer capacity to ensure a continuous supply rotation is, the
Board believes, a strong endorsement of both the quality of the Rudyard
product and the operational credibility of the Helix team.

The Counterparty will lift product from the Rudyard site for onward transport
to their target markets. Initial deliveries are being made using the Company's
existing high-pressure jumbo tube trailer. The Counterparty is arranging
additional trailer capacity to support a continuous rotation, which will allow
Helix to deliver volumes on an uninterrupted basis as production runs.

While terms are confidential between the parties the Board is able to confirm
that the pricing achieved is at prevailing spot market rates for Grade A
helium, and is substantially in excess of the historical price assumptions
used in the Company's pre-IPO financial model. The Board considers the terms
achieved to be materially favourable and reflective of current global helium
supply dynamics.

The Company continues to advance discussions with a number of additional
potential offtake partners in respect of both short-term spot arrangements and
longer-term structured offtake agreements.

 

Bo Sears, Chief Executive Officer of Helix Exploration, commented:

 

"This is a defining moment for Helix as a company. From first gas at Rudyard
in February 2026 to a contracted offtake arrangement with a leading industrial
gas company in May 2026, the Company has transitioned from an explorer to a
revenue generating business in just over 2 years since its IPO.

I appreciate that some shareholders will want to see pricing disclosed,
however the terms agreed are commercially attractive and, in the Board's view,
represent a positive outcome for the Company. The pricing is at prevailing
spot market rates, and it is substantially higher than the price assumptions
used in our pre-IPO model, a model that was itself built on conservative
estimates. I can confirm to shareholders that the Arrangement represents a
strong commercial opportunity, and we look forward to updating the market on
its financial contribution in due course.

The global helium market is tight. Supply from traditional sources remains
constrained. Helix has built a producing asset in the Montana Helium Fairway
and is entering production at a favourable point in the market cycle.  We are
now producing, selling, and being paid at rates that exceed our own
expectations. This is just the beginning of an exciting new chapter."

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of the Market Abuse Regulation (EU) No. 596/2014, as it forms
part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("UK
MAR"). Upon the publication of this announcement, this inside information is
now considered to be in the public domain. The Directors of the Company are
responsible for the release of this announcement.

 

Enquiries

Helix Exploration

 Bo Sears           via Camarco
 Keith Spickelmier  info@helixexploration.com (mailto:info@helixexploration.com)

Cairn - Nominated Adviser

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

 

Hannam & Partners - Broker

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

Camarco - Financial PR

 Tilly Butcher  +44 (0)20 3757 4980
 Sam Morris     helixexploration@camarco.co.uk (mailto:helixexploration@camarco.co.uk)

 

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. The
Company has four 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/) .

 

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.

 

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