Helix Exploration, the helium exploration and development company with near-term production assets within the Montana Helium Fairway, is pleased to announce the results of wireline testing at its Inez #1 well and to provide an operational update on the Rudyard Field testing programme and plant construction.
Highlights
· Inez #1 wireline logging can casing complete
· 140 ft reservoir identified in Souris and Red River formations
· Gas indicated throughout by neutron-density porosity crossover
· Wireline log correlates closely to the Linda #1 production well in the same Rudyard Field anticline
· Membranes have arrived at Wikota in Houston ready for transport to Helix's plant site in Montana
· Membrane skid piping fabrication is complete (testing now) and the Helium PSA skid is complete and ready for function testing
· Ground works at Rudyard plant site nearing completion with cement pouring due to commence imminently
· Workover rig mobilisation and flow testing to commence in early August 2025
Bo Sears, CEO of Helix Exploration, commented:
"We are pleased to update the market on continued progress at the Rudyard Field project. Wireline results from Inez #1 look extremely encouraging with clearly defined gas bearing reservoir intervals in the Souris and Red River formations. Importantly, the wireline characteristics are similar to Linda #1, which is located two miles to the north in the same Field. While log correlation does not guarantee similar test outcomes, it provides a basis for further testing ahead of planned flow and gas composition testing at Inez #1."
Background
The Inez #1 well has been drilled, logged, and cased to surface. Petrophysical interpretation from open-hole logs acquired in Inez #1 indicates a strong correlation in log character to Helix's previously drilled Linda #1 well, located approximately two miles to the north within the broader Rudyard Field anticline.
Notable results include the identification of 140 ft of good quality reservoir with abundant neutron-density crossover effect ("gas effect") identified in the Souris and Red River formations. Gas effect zones correlate significant helium gas-shows up to 948ppm (180x background) in drilling mud, as announced on 14 July 2025.
Flow testing is planned to commence as soon as a workover rig is available to arrive on site. Testing will focus on the principal gas-bearing intervals correlated in wireline logs and will include flow performance data, helium grade and gas composition. All required downhole hardware for planned testing operations is on site or in transit, and the contracted workover unit is expected to mobilise no later than early August 2025. Based on current schedules, Helix also anticipates commencing testing operations in early August 2025.
Plant construction is continuing in-line with the planned project schedule. Groundworks are nearly complete with cement pouring for plant pad due to commence in early August 2025. The Company has also submitted an application for an approach road from the State Road to the plant site with construction commencing shortly.
Qualified Person Statement
The technical information contained in this disclosure has been read and approved by James Weaver, P.E., who is a qualified Petroleum Engineer and acts as the Qualified Person under the AIM Rules - Note for Mining and Oil & Gas Companies. James Weaver is the Chief Executive Officer for Aeon Petroleum Consultants Corp. which has been retained by Helix Exploration plc to provide technical support.
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.