Helix Exploration – Quarterly Newsletter
Company News
With Q3 commenced last week and drilling just around the corner we take the opportunity to look back over what has been an active Q2 period. We listed on the AIM market only three short months ago with an oversubscribed order book of £22m from which we placed £7.5m. Since then activity in Montana has been non-stop with Rig Contract Signed, the publication of a Scoping Study over Ingomar with NPV8 $304m, and the Acquisition of Rudyard.
Drilling Rig, less than two weeks after listing Helix executed a binding contract with Treasure State Drilling, LLC for the provision of their Cardwell KB-150 D1D Drilling and equipment for the Company’s Q3 2024 appraisal drilling campaign at the Ingomar Dome project. This is now only weeks away from commencing operations.
The Scoping Study, was conducted by an independent expert Aeon Petroleum Consultants Corporation. The key elements of their findings were an initial capital expenditure of only $19.7mm, an NPV8 of $303.1 million and a net revenue of $605.6 million after taxes, royalties, capital expenditure and operating costs.
The acquisition the Rudyard project, this is a closure that has a proven helium discovery with tested flow rates at 1.3% He and Contingent Resources with in-situ value ~$250 million. This strategic acquisition adds a known helium resource to the company’s portfolio and complements our flagship Ingomar Dome Project.
CEO Bo Sears’ Commentary (LinkedIn)
“The U.S. faces a challenge in securing domestic helium supply due to conflicting federal policies. The 2019 Dingell Act aimed to facilitate helium exploration on federal lands. However, recent Bureau of Land Management (BLM) regulations overhauling onshore oil and gas leasing have inadvertently hindered helium exploration… ”
Helium insights from the Helix Exploration team
This month, the Helix management team have launched a mini-series with Proactive Investors where they discussed important topics related to helium, helium production and the helium industry.
Watch the latest three episodes here:
We have received overwhelmingly positive reactions from the financial community. This includes Oak Securities upgrading their price target from 39p to 93p, that is over four times the current share price. Helix Exploration has already delivered share price growth more than six times above average against the London Stock Exchange estimated benchmark and looks set to continue. As we move into drilling in Q3 we are excited to continue delivering for you and the broader helium industry!
Helium Exploration’s social media channels
Summary of Helix Exploration
Helix Exploration is a helium exploration company with operations in Montana, North America. Its strategic focus is to discover and develop new sources of economically viable, primary helium. Operations are focused on their flagship Ingomar Dome and Rudyard projects, large-scale closures on the Montana Helium Fairway where historic drilling has already identified gas in target reservoir horizons.
The company aims to use the net proceeds raised from the IPO in April 2024 to commence scoping studies and test drilling over Ingomar Dome and Ruduard projects with a first gas target of Q4 2025. Helix hopes to become a disruptive new entrant in the North American helium sector, growing production through exploration-led discoveries as well as developing mid-stream capacities to sell helium directly to end-users.
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