Rudyard
Helix acquired Rudyard directly from leaseholders in June 2024 for a consideration of only $250,000 paid mostly in shares. This transaction was made possible by the deep connections Helix management have developed over 20 years of operating in the Montana Helium Fairway. Darwin #1 drilled in Q4 2024 confirmed a commercial helium discovery at Rudyard.
The Rudyard Project
- Large: co-joined domal anticlinal underlain by the Great Fall Tectonic Zone
- Thick: 236ft of Darwin #1 perforated simultaneously, testing Souris and Red River reservoir horizons
- Discovery: High grade helium assayed at 1.1% helium in nitrogen gas with commercial flow rates sustained at 2,750 thousand cubic feet per day
- Reserves: Reserves of 355 million cubic feet of recoverable helium calculated by Aeon Petroleum Consultants Corp. (“Aeon”) on northern dome only, with additional 280 million cubic feet of helium remaining as Contingent Resources in Southern Dome
Rudyard reserves and resources of 635 million cubic feet of helium
Economic:
- NPV8 $78 – $146 million
- IRR >1000%
- Net Revenue $115 – $220 million over 12-14 year life of field
- Peak sustained post-tax cash-flow $16.5 – $28 million per year
- Low CAPEX: Takes advantage of existing infrastructure on site including three-phase power, road and rail transport connections.
- Processing Plant: Already acquired a high-performing Xebec PSA plant and equipment for $500,000, with a proven capacity of 48,000Mcf per year of high-grade helium
- Fully Funded: With undiscounted equity raise of £5m in Jan 2025
Helix is targeting for production from our fully funded Rudyard Project in 2025
Helium Reserves (Mcf)
| Proved | Proved & Probable | Proved, Probable & Possible | ||||
|---|---|---|---|---|---|---|
| Reservoir | Gross | Net | Gross | Net | Gross | Net |
| Souris and Red River | 165,300 | 142,200 | 241,500 | 207,800 | 355,300 | 305,700 |
Helium Contingent Resources (Mcf)
| 1C (P90) | 2C (P50) | 3C (P10) | ||||
|---|---|---|---|---|---|---|
| Reservoir | Gross | Net | Gross | Net | Gross | Net |
| Souris River | 59,340 | 51,032 | 132,395 | 113,860 | 295,335 | 253,988 |
| Red River | 70,525 | 60,652 | 147,716 | 127,036 | 305,833 | 263,016 |
| Total | 129,865 | 111,684 | 280,111 | 240,895 | 601,168 | 517,004 |
Helium Prospective Resources (Mcf)
| 1C (P90) | 2C (P50) | 3C (P10) | ||||
|---|---|---|---|---|---|---|
| Reservoir | Gross | Net | Gross | Net | Gross | Net |
| Dry Creek. (risked)1 | 38,510 | 33,119 | 82,063 | 70,574 | 169,445 | 145,722 |
| Dry Creek (unrisked) | 52,754 | 45,368 | 112,415 | 96,677 | 232,116 | 199,620 |