REG - Helix Exploration - Commencement of Civils at Linda #1

Helix ExplorationAnnouncement

27/03/2025 07:15

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RNS Number : 4682C  Helix Exploration PLC  27 March 2025

27 March 2025

 

Helix Exploration PLC

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

Commencement of Civils at Linda #1

Helix Exploration, the helium exploration and development company with
near-term production assets within the 'Montana Helium Fairway', is pleased to
report the commencement of construction work on access road and drill pad
("Civils") at the Linda #1 well at Rudyard Project, Montana.

Highlights:

·    Construction commenced at Linda #1 well site ahead of mobilisation of
rig and crew which is expected to occur within the next few weeks

·    Linda #1 to be the third of three production wells to be completed
ahead of first helium production at Rudyard Project

·    Fabrication work commenced on a helium membrane package for delivery
ahead of production in summer 2025

Bo Sears, CEO of Helix Exploration, commented:

"We are excited to be on the ground getting ready to drill our third
production well on Rudyard Project at Linda #1.  The well is strategically
located only a mile south of our discovery well at Darwin #1.

"Progress on the plant is proceeding as planned with the fabrication of a
six-million cubic feet per day helium membrane package currently underway with
a leading technology company.  The membrane package rejects nitrogen and
increases helium grade before feeding gas into the PSA plant.  It is an
essential part of our processing pathway, and we are delighted to have secured
this module for delivery ahead of our planned production in the near term."

Background

Helix has commenced construction work at the Linda #1 wellsite ahead of
mobilisation of drill rig and crew which is expected to occur within the next
few weeks.  The Linda #1 well will be drilled by Treasure State Drilling
utilising the same rig and crew which successfully drilled Darwin #1 well in
only 12 days in November 2024.  The well, located roughly one mile south of
Darwin #1, is expected to encounter similar reservoir characteristics as the
Darwin #1 well and on structure.

Helix has contracted Wikota Design & Construction LLC to source a membrane
package from one of the world's leading specialty processing companies.  The
membrane package has been specifically developed for helium recovery and
purification, enabling highly pure helium to be efficiently produced from our
specific gas composition.  Fabrication of the membrane package has commenced
for delivery ahead of production in summer 2025.

 

 

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 Securities - 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 raising £7.5 million from an offer book
of over £22 million.

The Company has drilled two wells on two assets in 2024. Darwin #1 well at
Rudyard Project tested 236ft 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.

Clink #1 well at Ingomar Dome Project recovered gas samples from the Flathead
Formation assayed at 55.2% Hydrogen in gas sample isolated from drilling mud
and 2.5% helium in gas sample recovered from the reservoir. Gas samples
demonstrate helium and hydrogen potential with additional stimulation required
to potentially generate commercial flow rates in Flathead and Charles
formations.

Helix Exploration is focused on early production at the Rudyard Projects,
taking advantage of existing infrastructure and low-cost processing to target
first gas production in 2025. Helix is committed to open and transparent
communication with investors and the wider market as the project progresses
through development into production.

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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