HeLIX Exploration PLC (AIM:HEX) told investors it has successfully completed drilling the Darwin-1 well, at the Rudyard project in Montana, encountering significant helium shows in multiple horizons.
The well was drilled down to 5,488 feet, and measured helium concentrations of up to 1,312 parts per million (ppm) – which is around 250 times the level found in ambient air.
According to mud logging, the firm sees over 330 feet of potential gross pay, including new formations not seen in prior drilling.
The targets, which now require further testing, are described as “high to prognosis”, with the company now anticipating “a larger anticline structure than previously modelled”.
"The Darwin #1 well at the Rudyard Project has significantly surpassed initial expectations,” chief executive Bo Sears said in a statement.
"We are proceeding with a triple-combo wireline to further delineate our potential reservoir.
“With testing also ongoing at Ingomar, we are poised to evaluate our second well concurrently, marking an exceptionally active and promising period for the company."