Helix Exploration Confirms Major Helium and Hydrogen Finds; Operations Temporarily Paused

Helix Exploration, a company focused on helium exploration within the "Montana Helium Fairway," has provided an operational update on its Clink #1 well at the Ingomar Dome Project. The well has encountered significant shows of both helium and hydrogen gas in the Amsden, Charles, and Flathead sandstone formations. However, operations at the Clink #1 well will pause for about a month as the company mobilizes a rig to set intermediate casing over the Mowry shale at approximately 2,100 feet.

The Clink #1 well reached its target depth (TD) of 8,030 feet (around 2,450 meters) on August 23, 2024. While setting up for wireline logging, the rig experienced stability problems in the Mowry shale starting at approximately 2,100 feet, resulting in wellbore instability. These stability challenges were unexpected, as they had not been observed in surrounding wellbores, including the nearby Hillison #1. To address this issue, Helix Exploration will need to rotate a 7" intermediate casing through the shale section. This step is crucial to allow the company to re-enter the well and test the lower sections, where a helium system has already been identified.

The casing operation requires a different rig capable of handling the 7" casing, which could take around a month to source and mobilize. In the interim, the well has been sealed with a cement plug and retrievable packer until it can be finished. Despite the delay, the company remains fully funded for all necessary operations, including the rig mobilization and the drilling of an appraisal well at Rudyard.

Bo Sears, CEO of Helix Exploration, expressed his frustration with the delay but emphasized the positive outcomes of the well so far. The mud log revealed high-quality reservoir strata with encouraging helium results, indicating the presence of helium across all target reservoir horizons. Additionally, the Clink #1 well has shown the presence of geological hydrogen within the deeper Cambrian sandstones, with hydrogen grades increasing towards the total depth of 8,030 feet, even though the well did not reach the basement.

Helix Exploration is committed to completing and testing the Clink #1 well as soon as possible and will provide a definitive timeline once it is available. The company looks forward to advancing its operations and capitalizing on these promising results.

Helix Exploration is a helium exploration company dedicated to discovering and developing helium deposits within the 'Montana Helium Fairway.' Established by industry veterans with deep expertise in U.S. helium systems, the company’s portfolio includes 52 leases over the Ingomar Dome, a significant 16,512-acre closure with a P50 unrisked gross prospective helium resource estimated at 2.3 Bcf, with potential upside reaching 6.7 Bcf. Historical drilling and testing have confirmed gas presence across all targeted reservoir horizons.

The company's second key asset is a 5,600-acre site in Rudyard, Montana, where historic drilling near the leases has uncovered a helium discovery with concentrations of up to 1.3% He. Rudyard boasts P50 gross contingent helium resources of 482,000 Mcf across two stacked reservoirs, with an additional 112,000 Mcf of gross prospective helium resource in untested horizons.