Helix Exploration PLC (AIM:HEX, OTCQB:HHEXF) has begun mobilising a drill rig and equipment to the Inez-1 location at its Rudyard project in Montana, the company announced.
Construction of the access road and drill pad is now complete, with drilling expected to commence next week. The operation is forecast to take between 10 and 14 days once underway.
Inez-1 marks the fourth production well at the site and is designed to extend known helium reserves in the Souris and Red River formations, located south of the existing Linda-1 well.
Highlights:
· Construction completed access road and drill pad at Rudyard
· Mobilisation commenced utilising Treasure State Drilling Cardwell KB-150 D1D drilling rig
· Drilling of Inez #1 is well expected to commence next week
Bo Sears, CEO of Helix Exploration, commented:
“Mobilisation of drilling equipment to Inez #1 marks the rapid acceleration of the development of the Rudyard Project. The fourth production well is strategically positioned to extend proven helium reserves and prepare increased helium flow ahead of first production. Expanded production increases near-term cash flow, reduces the timeline to full-field production and delivers stronger project economics and long-term value creation.”
Helix added that additional production wells are anticipated to boost cash flow within the first six months of output and support a broader drilling campaign planned for 2026.
