HeLIX Exploration PLC (AIM:HEX) chairman David Minchin takes Proactive's Stephen Gunnion through the company’s latest milestone—discovering helium during testing operations at the Clink #1 well at the Ingomar Dome Project in Montana.
Minchin expressed excitement about achieving this just six months after the IPO. He shared impressive findings, including 2.5% helium and 55% hydrogen in the tested samples, surpassing initial estimates used in the company’s CPR and NPV scoping studies. “We clearly sat on a large scale, highly commercial closure. It's really exciting stuff,” he said.
Minchin explained the company’s approach to addressing slower-than-expected flow rates, including plans for reservoir stimulation to enhance permeability. He also highlighted the Amsden formation, which is already producing commercially at 8,000 cubic feet per day, with potential from other formations like Flathead and Charles.