REG - Helix Exploration - Strategic Partnership with Petroleum Consultants

Helix ExplorationAnnouncement

15/04/2024 07:00

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RNS Number : 5325K  Helix Exploration PLC  15 April 2024

15 April 2024

Helix Exploration PLC

 

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

 

Strategic Partnership with Petroleum Consultants, LLC

 

 

Helix Exploration, the helium exploration and development company focused on
large scale and low risk helium deposits within the 'Montana Helium Fairway',
is pleased to announce it has signed an agreement with Petroleum Consultants,
LLC ("Petroleum Consultants").

 

Petroleum Consultants management team, which includes three Professionally
Licensed Petroleum Engineers, leverages over 40 years' combined experience in
hydrocarbon exploration and development. Services provided to over 50 clients
include engineering, project management, wellsite supervision, land and
regulatory assistance, accounting and administrative offerings.

 

The Company's selection was based on Petroleum Consultants extensive
operational experience within Montana and across the United States,
particularly in managing exploration activities throughout the Rocky Mountains
region.  The execution of this contract marks the initiation of the Company's
Phase 1 Work Programme and first steps towards the delivery of a safe and
successful drilling campaign in Q3 2024.

 

 

 

Bo Sears, CEO of Helix Exploration, said:

 

"We are pleased to announce the commencement of our appraisal well programme
through a strategic partnership with Petroleum Consultants, headquartered in
Billings, Montana. This collaboration entails comprehensive drilling
engineering services encompassing well design, completion design, flow-testing
procedures, and overall wellsite supervision. Leveraging their extensive
experience in the State of Montana and across the broader Rocky Mountain
regions, Petroleum Consultants will play a vital role in optimising our
drilling and testing processes.

 

"The company is committed to delivering an aggressive operational timeline
with drilling targeted for Q3 of this year.  Helix are dedicated to providing
regular updates to our stakeholders as the Project unfolds, including the
finalisation of a drilling contract with a rig supplier."

 

 

 

Rig Contract Selection

 

Helix successfully raised £7.5m in funding through its oversubscribed Initial
Public Offering (IPO) in early April 2024, ensuring it is fully funded for the
contracting of a drilling rig for the Ingomar Dome appraisal drilling.  As
such, the Company has exchanged a draft drilling contract with its preferred
supplier and anticipates executing the agreement within the coming weeks.

 

 

 

The Directors of the Company take full responsibility for the accuracy of this
announcement.

 

Enquiries

 

Helix Exploration

 Bo Sears       via Camarco
 David Minchin  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
 Andy Crispin
 Spencer Mignot

 SI Capital - Joint Broker
 Nick Emerson               +44 (0)14 8341 3500
 Renato Rufus
 Nick Briers

 

OAK Securities - Joint Broker

 Jerry Keen   +44 (0)20 3973 3678
 Henry Clark

Camarco - Financial PR

 Emily Hall     +44 (0)20 3757 4980
 Tilly Butcher  helixexploration@camarco.co.uk (mailto:helixexploration@camarco.co.uk)

 Billy Clegg

 

 

Notes to Editors

 

Helix Exploration is a helium exploration company focused on the exploration
and development of low risk, large scale helium deposits within the 'Montana
Helium Fairway'. Founded by industry experts with extensive experience of
helium systems in the US, the Company's assets comprise of 52 leases over the
Ingomar Dome; a large closure of 16,512 acres with P50 unrisked prospective
helium resource of 2.3Bcf and upside of 6.7 billion cubic feet. Historic
drilling and/or testing has identified gas in all target reservoir horizons.

 

Helix Exploration will focus on appraisal and early production at the Montana
Ingomar Dome Project.  An aggressive development timeline will see appraisal
drilling targeted for Q3 2024 and first helium production targeted for Q4
2025.  Helix is committed to open and transparent communication with
investors and the wider market as the project progresses through development.

 

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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