HeLIX Exploration PLC (AIM:HEX) has completed drilling operations at the Linda-1 well, part of the Rudyard project in Montana, and has reported ‘shows’ in multiple horizons.
The well was drilled down to 5,398ft, over an 18-day programme.
It encountered helium gas shows in multiple horizons, with concentrations measured up to 1,117ppm, whilst a total of 230ft of pay was identified in the Souris and Red River formations.
Also, oil shows were also recorded in the Nisku and Duperow formations, mirroring results seen previously in the Darwin-1 well.
"Helix Exploration continues to deliver with the completion of drilling at our third production well,” said chief executive Bo Sears.
“Although early stage, the identification of oil at Rudyard warrants further investigation as a potential source of secondary income alongside our existing helium discovery."
Sears added: "With so much to go for in this well we look forward to commencing wireline logging and flow testing, with flow test results to be announced as soon as possible."