HeLIX Exploration PLC (AIM:HEX) has begun the crucial 'civils' work ahead of its first two wells along the Montana helium fairway - the first of which is slated for early next month.
Drill pad construction should take place 'relatively quickly' following the construction of a drill pad.
Clink #1 at Ingomar will be first, followed by Darwin #1 at Rudyard. The timeline includes one week for mobilisation and rig setup, three to four weeks for drilling, one week for wireline and well completion, and four weeks for flow testing and appraisal.
By using local suppliers, the company has managed to reduce costs significantly with the outlay for Clink #1 put at $2.13 million.
Darwin #1 is expected to come in at around $1.98 million, due to its shallower target depth.
"The company will keep investors updated as drilling progresses via RNS, potentially including updates on commencement of drilling, significant helium gas shows in drilling mud, wireline results, initial flow test results and full flow test results," investors were told.