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Helix Exploration Plc ( (GB:HEX) ) has provided an announcement.
Helix Exploration PLC has completed drilling at the Linda #1 well in the Rudyard Project, Montana, marking its third production well. The well reached a total depth of 5,398ft, revealing significant helium gas shows and encouraging oil shows in various formations. The results suggest a promising expansion of the Rudyard Field’s helium asset, with potential secondary income from oil discoveries. The company plans to commence wireline logging and flow testing soon, with first helium production scheduled for summer 2025.
More about Helix Exploration Plc
Helix Exploration is a helium exploration company focused on the exploration and development of helium deposits within the ‘Montana Helium Fairway’. Founded by industry experts with extensive experience of helium systems in the US, the company listed in April 2024, raising £7.5 million. Helix is fully funded and focused on production, leveraging existing infrastructure and low-cost processing to target first gas in 2025.
YTD Price Performance: -7.71%
Average Trading Volume: 2,118,761
Technical Sentiment Signal: Strong Buy
For detailed information about HEX stock, go to TipRanks’ Stock Analysis page.