Helix Exploration PLC
07 October 2026
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("UK MAR").
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7 October 2026
Helix Exploration PLC
("Helix" or the "Company")
Rudyard - Ollie #1 Well Completion
Highest mudlog helium readings at Rudyard to date
Helix Exploration PLC (AIM: HEX, OTCQB: HEXFF), the US-focused helium producer and liquefier, is pleased to announce completion of the Ollie #1 well at Rudyard with casing set and cemented to surface.
Key information
· Total depth of 6,311 ft, completed in 20 days, ahead of schedule and under budget as a result of Helix owning its own drilling rig.
· Highest mudlog helium readings of any Rudyard well drilled to date at 4,800 ppm* (0.48%) in drilling mud - the previous mudlog high of a Rudyard well was 1,200 ppm.
· Ollie #1 is in the Northern Dome of the Rudyard field, approximately one mile north of Weil #1, and is intended to be the fourth production well providing throughput to the PSA plant.
Next steps
· Helix is in the process of contracting a workover rig to perforate and test target intervals - a further announcement will be made upon rig mobilisation which the Company currently expects to be by 31 October 2026.
· Subject to flow testing and gas analysis, Helix intends to tie Ollie #1 into the existing gathering system at Weil #1 and connect it to the PSA Plant, within the existing current membrane capacity.
· The next helium well to be drilled within the planned production expansion programme will be Ross #1, another well on structure helping to further delineate the field - the drilling rig will shortly be relocated, and a further announcement will be made upon spudding of Ross #1 which, subject to Montana Board of Oil and Gas Conservation approval, may commence by 31 October 2026.
*Mudlog readings readings are an encouraging indication of helium presence, but they should not be unduly relied upon as a measure of ultimate helium content, production potential or reserves. Higher mudlog showings do not necessarily translate into higher recoverable helium volumes than wells with lower recorded showings, as mudlog responses can be influenced by drilling and formation conditions. Ollie #1 will be subject to detailed gas composition analysis and flow testing to properly assess helium concentration, deliverability and commercial potential.
Bo Sears, Chief Executive Officer, commented:
"We are delighted to complete Ollie #1 under budget and in record time - a benefit of the Company owning its own drilling equipment. Real-time measurements of helium gas concentrations extracted from drilling fluid as the borehole was drilled were the highest I have encountered in my career to date and provide an encouraging basis to proceed to wireline logging and flow testing. Workover unit availability is tight in the region, but we are seeking to contract equipment as soon as possible - and likely within the next two to three weeks.
"We have also designated Ross #1 as the next helium well in the production expansion programme due to its location on the Rudyard structure. We look forward to updating investors further on the progress of both the Ollie #1 and Ross #1 wells being advanced in tandem."
Enquiries:
|
Helix Exploration plc Bo Sears Keith Spickelmier |
info@helixexploration.com |
|
Cairn - Nominated Adviser Liam Murray Ludovico Lazzaretti James Western |
+44 (0)20 7213 0880 |
|
Hannam & Partners - Broker Neil Passmore Leif Powis |
+44 (0)20 7907 8502 |
|
Vigo Consulting - Financial PR Ben Simons Patrick d'Ancona |
+44 (0)20 7390 0234 helix@vigoconsulting.com |
About Helix
From explorer to integrated US helium producer in just over two years.
Helix Exploration PLC (LSE: HEX) is a US-focused helium producer and liquefier building an integrated position across the helium value chain. Its flagship Rudyard Project in Montana commenced production in February 2026, with first commercial sales in July 2026. Production is currently subject to a regulatory pause requested by the Montana Board of Oil and Gas Conservation, as announced on 3 September 2026.
Helix is now expanding Rudyard through a drilling and processing capacity programme, supported by its own drilling rig, while the July 2026 acquisition of the Keyes Helium Complex in Oklahoma provides ownership of one of only six operational helium liquefaction facilities in the United States.
The combination of producing helium resources, owned drilling capability and liquefaction infrastructure gives Helix unique control across the value chain and creates multiple avenues for growth, including increased production, third-party processing and liquefaction.
Helix is focused on scaling a vertically integrated helium business positioned to serve the growing North American and global markets.
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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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