Helix Exploration PLC (AIM: HEX) informed investors that the Clink #1 well at the Ingomar Dome project has encountered substantial indications of helium and hydrogen gas in the Amsden, Charles, and Flathead formations.
The well reached its target depth of 8,030 feet on August 23. However, operations have been paused before wireline logging due to wellbore stability issues.
Helix plans to deploy a new rig that can install intermediate casing through the shale to address this. This procedure is anticipated to take approximately one month.
Chief Executive Bo Sears emphasised that Helix is fully funded for its operations.
“While it’s disappointing that the completion and appraisal of Clink #1 have been delayed, we are very encouraged by the well’s results so far,” Sears stated.
“The mud log indicates high-quality reservoir strata with promising helium results. Clink #1 seems to be a strong well overall, though the problematic shallow interval has complicated our completion efforts.
“Nevertheless, the well confirms the presence of helium across all our target reservoir horizons.”
He also noted: “The Clink #1 well has shown the presence of geological hydrogen in the deeper Cambrian sandstones.
“Hydrogen concentrations increased as we approached the total depth of 8,030 feet, while the well was still producing gas and had not yet reached the basement.”
