HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) told investors it has started the mobilisation of the drill rig and equipment to the Inez-1 location, at its Rudyard project in Montana.
Construction of the access road and drill pad has been completed. Drilling is expected to start next week and, once underway, will take about 10 to 14 days.
Inez-1 is the fourth production well at the site, it will target the extension of known helium reservoirs in the Souris and Red River formations to the south of the Linda -1 well.
“The fourth production well is strategically positioned to extend proven helium reserves and prepare increased helium flow ahead of first production,” chief executive Bo Sears said in a statement.
“Expanded production increases near-term cash flow, reduces the timeline to full-field production and delivers stronger project economics and long-term value creation."
Helix noted that it expects that additional production wells are expected to help increase cash flow within the first six months of production and support an expanded drilling campaign in 2026.