Bo Sears, CEO of HeLIX Exploration PLC (AIM:HEX), explains to Proactive the significance of its latest news from the Rudyard project, where it has just announced a helium discovery.
Bo Sears: This is a great discovery—the kind of discovery you dream of as a helium explorer. We had great flows. We perforated a large zone, we’re high on structure, and the reservoir has excellent permeability. All the boxes were checked. This is a fantastic find.
Proactive: Can you share more about the area and some of the numbers you’re seeing?
Bo Sears: This is in Montana, where known helium deposits already exist, concentrations over 0.5% are considered high, and we recorded 1.1% in this particular well. The area has everything needed for a commercial reservoir, including structural closure.
Proactive: And this can generate significant revenue for the company as well?
Bo Sears: Absolutely. From a processing standpoint, it’s quite easy. We don’t have to handle large amounts of contaminants like CO2 or H2S. This makes the processing much simpler and faster. I think we can get helium production going in no time.
Proactive: That area also has strong infrastructure benefits, doesn’t it?
Bo Sears: Exactly. While you might think Montana is remote, it’s quite the opposite. We’re on the most heavily travelled rail line in the US, with access to three-phase power. Markets on either coast are accessible to us.
Proactive: Looking back on this year and ahead to 2025, you’ve drilled two wells in 2024. It sounds like there’s more potential coming.
Bo Sears: Definitely. We’re staying very busy and keeping investors informed. We’re running on all cylinders, and it’s an exciting time to be part of HeLIX Exploration.