REG - Helix Exploration - Successful first Helium Gas Production

Helix ExplorationAnnouncement

23/02/2026 07:00

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RNS Number : 9938T  Helix Exploration PLC  23 February 2026

23 February 2026

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

Successful first Helium Gas Production at Flagship Rudyard Project & Inez
Testing Update

Helix Exploration PLC, the helium exploration and development company with
near-term production assets within the 'Montana Helium Fairway', is pleased to
announce the commencement of gas production at its flagship Rudyard Project
making it the first Helium gas producer in the state of Montana.

Highlights

·    First Helium gas producer in Montana: Helix has successfully
commenced production of Helium gas at its flagship Rudyard project. Helium gas
is being processed from 3 production wells initially and the Company will
integrate the Inez well into production capacity once testing on Inez has been
completed.

·   Offtake negotiations: Now that Helium production has commenced, the
Company will be welcoming potential offtake distributors at Rudyard.

·   Capacity & Scale Up: Capacity will scale towards full production
over the coming months as the on-site team consolidate the processes around
the PSA plant.

 

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

"Helix is elated that it can claim to be the first Helium producer in the
state of Montana. I am extremely proud of our team and the way that we have
executed progressing from IPO to production in just over 21 months. This also
includes our supportive shareholders.

I would also like to extend a special thank you to the entire team at Wikota
& Darren Heustis and his team at Nu Wave for their dedication to the
project.

The commencement of production marks a transitionary event for the Company as
we move from an explorer to a revenue-producing business.  We believe that
the current market presents significant potential for the Company to continue
to grow. The first step will be entering into offtake agreements with
discussions now due to commence onsite."

 

Keith Spickelmier, Non-Executive Chairman of Helix Exploration, commented:

"Production at the Rudyard Project is a significant milestone for the Company
and validates the faith that our shareholder base has placed in our team to
deliver. I wish to extend my congratulations and appreciation to Bo and his
team on the ground for their tireless work in bringing the Company to this
stage and look forward to the next phase of continued growth for the Company."

 

Background

The achievement of first production at the Rudyard project marks a milestone
for the Company and the state of Montana as it recognizes first production of
Helium for both parties. Helix has connected three wells being the Linda, Weil
& Darwin wells to the gathering system which will provide initial
throughput to the PSA plant. The Inez well will be connected to the gathering
system once testing activities have been completed.

 

Offtake Strategy

Now that production has been confirmed it gives the Company and off takers
greater certainty about the ability of Helix to deliver and subsequently
greater confidence in negotiations. Helix will be meeting various off takers
over the coming weeks with the aim of entering a mix of short & long-term
contracts to maximise price and revenue for the Company.

 

Inez Testing Update

During the re-entry process at the Inez well, the drilling team encountered a
"snapping off" incident where parts of the drill string have broken off from
the drilling equipment. This is a common occurrence in drilling activities and
means that components of the drill string will need to be retrieved from the
well.

There is no compromise between the Hydrogen potential or the Helium reserves
in the well. Currently the Company is fully focused on production and entering
into offtake agreements and will re-visit the testing activities once it has
entered into offtake agreements. As previously announced, Helix is continuing
discussions with several interested parties regarding the hydrogen potential
of the Rudyard Field.

 

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
 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 - Joint Broker

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

 

Camarco - Financial PR

 Tilly Butcher  +44 (0)20 3757 4980
 Billy Clegg    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 to target
first gas in 2025. 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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