REG - Helix Exploration - Inez #1 Well Re-entry

Helix ExplorationAnnouncement

26/05/2026 07:00

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RNS Number : 6576F  Helix Exploration PLC  26 May 2026

26 May 2026

 

Helix Exploration PLC

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

 

Inez #1 Well Re-entry

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 re-entry operations at the Inez
#1 well have commenced. The Company is rigged up and re-entering the wellbore
has commenced. Inez #1 will be placed on production from the Souris River
interval as the outcome of these operations, representing a meaningful
addition to the Company's growing production base at Rudyard.

 

Highlights

•   Re-entry operations are live and Helix is rigged up and actively
re-entering the Inez #1 wellbore.

•   Production from the Souris River interval is the objective of the
re-entry.

•   If the Retrieval (defined below) is successful, the Company will
evaluate an option to core the hydrogen-bearing interval at Inez #1 - a
potentially high-value data opportunity given Helix's association with the
Chimaera Fund and the United States Air Force, both of which have expressed
interest in natural hydrogen data from the Montana Helium Fairway.

•   If the Retrieval is unsuccessful, equipment will be left in place and
the Company will proceed directly to re-perforation of the Souris River
interval and production - a straightforward path to first gas from Inez #1.

•   The Inez #1 well was originally perforated to characterise the lower
reservoir, specifically to understand the distinction between the Red River
and Souris River carbonate formations - both productive intervals at Rudyard.
As this scientific objective has been substantially met; the focus now is
production.

•   Helix now has operations active across multiple wells and an offtake
arrangement for 100 per cent. of deliverable volumes. Today's commencement at
Inez #1 advances the Company's stated goal of building production scale
efficiently and systematically.

 

 

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

 

"I am pleased to announce that operations have commenced. The rig is on site,
and we have re-entered the well over the weekend, as planned following
announcement of our offtake arrangement to the market. We will perforate the
Souris River interval in the coming days and look forward to evaluating its
potential. Production is our objective - and what we will deliver as we
continue to grow our asset base and strengthen our offtake arrangements."

 

 

Background

During the course of initial perforation operations at Inez, downhole
equipment became lodged in the wellbore, requiring a fishing operation (the
"Retrieval") before the Company could proceed to full-interval production
perforations. The re-entry operation commencing today is designed to address
this directly.

The well carries an additional point of strategic interest. A hydrogen-bearing
interval has been identified within the Inez #1 wellbore, and this has
attracted interest from the Chimaera Fund - a dedicated natural hydrogen
investment vehicle - and from the United States Air Force, both of which
recognise the potential scientific and strategic value of coring this
interval. If the Retrieval is successful in clearing the wellbore, the Company
will consider whether to exercise this option before proceeding to production
perforations. If not, the Company will move immediately to re-perforate the
Souris River and bring Inez #1 on stream.

 

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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