REG - Helix Exploration - Successful Inez #1 flow test and gas results

Helix ExplorationAnnouncement

10/09/2025 07:00

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RNS Number : 6848Y  Helix Exploration PLC  10 September 2025

10 September 2025

 

Helix Exploration PLC

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

Successful Flow Testing & Gas Analysis results at Inez #1

Helix Exploration, the helium exploration and development company with
near-term production assets within the 'Montana Helium Fairway', provides an
update on flow testing and gas analysis results from the Inez #1 well in the
Rudyard Field Project, Montana.

Highlights:

·    Inez #1 was perforated at a specifically chosen 55ft interval within
the Lower Souris and Red River formation from 5,175ft-5,230ft.

·    High grade helium assayed at 1.2% helium with the balance being
primarily nitrogen.

·    Flow rates established with Absolute Open Flow estimated at 1,157
thousand cubic feet per day (Mcf/d) and a maximum surface pressure of the zone
tested at 1,541 psi.

·    Testing the lower zone provides valuable data on helium grade,
pressures, porosity, and permeability across a distinct reservoir separate
from the upper Souris River zones.

·    The Inez#1 well brings the number of producing wells at the Rudyard
project to four.

·    The Company will look to perforate additional zones in the upper
Souris River formation which has the potential to add to current flow rates.

Bo Sears, CEO of Helix Exploration, commented:

"The Inez #1 well delivers another productive outcome for the Rudyard Field,
adding additional volume to our plant and further validating the field's
commercial potential. Importantly, this well was designed to maximize the
science we can extract from Rudyard. By electing to test the deeper Lower
Souris and Red River formation, we are gaining insight into helium
concentration, flow characteristics, and pressure regimes that will help guide
both future drilling and eventual 3D seismic across the field.

 

"The helium percentage recorded at Inez #1 is as high as observed from any of
our wells, underscoring the strength of the system. We now look forward to
perforating the upper Red River reservoir, which is geologically distinct and
has the potential to deliver additional volumes. With every new well, we are
broadening our knowledge of the field, expanding reserves, and reinforcing
Rudyard as a cornerstone helium project."

Background

Helix has successfully tested target reservoirs at Inez #1 in the lower Souris
and Red River over a 55ft interval from 5,175ft-5,230ft. This was a strategic,
targeted decision designed to enhance our understanding of reservoir
performance, fluid distribution, and pressure regime across the field.

Following initial perforating of the Lower Souris and Red River formations,
flow rates were constrained by significant skin damage caused by heavy
drilling fluids during the original completion.  To remediate this, the
Company elected to acidize the well. Post-stimulation, results improved
dramatically, delivering commercial flow rates.

While this rate is lower than Linda #1, the outcome provides valuable insight
demonstrating the variability in deliverability between zones and underscores
the importance of targeting the most productive intervals. The reduction in
flow rates compared to the 3 previous wells was not unexpected and can be
explained by the comparably small perforation zone of 55ft at Inez (Linda 218
ft, Darwin 236ft). The Company plans to perforate the upper Souris River
formation in the coming month subject to the availability of a workover unit.

The success of the acidization process at Inez #1 also suggests that the other
wells in the Rudyard field may respond positively to acidization with
increased flow rates.

Samples of gas were sent to Isotech Laboratories in Illinois for analysis and
returned 1.2% Helium and 96% Nitrogen with very low levels of Methane and no
water or material CO(2).  The gas mix observed is similar to gas seen at
Linda #1, indicating a continuity of grade across the Rudyard closure.

The Company continues its strong progress towards production and will update
the market as updates come to hand.

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

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

 Oliver Stansfield

 Jonathan Evans

Camarco - Financial PR

 Tilly Butcher  +44 (0)20 3757 4980

 Emily Hall
 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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