HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) told investors it has begun drilling the Inez-1 well at the Rudyard Project in northern Montana.
It is the fourth production well in the field, and will test the Souris River and Red River formations. It will also target the southern dome, which has 2C gross contingent resources of 280.00 million cubic feet of helium.
Drilling is expected to take around 10–14 days. And will be followed immediately by wireline logging and extended flow tests.
"Spudding Inez-1 marks another meaningful step forward for Helix as we build on our successes at Rudyard,” chief executive Bo Sears said in a statement.
“The well targets two of the same formations that are already known to contain helium within our acreage, but is the first well in the southern dome.
“Therefore, a successful test here will allow us to significantly expand our reserves.”
Helix, meanwhile, reported that on-site plant pad construction will start this month, and full plant mobilisation to Montana will be due before the end of July.
Sears added: “Our membrane systems are en route from Germany, bringing us closer to operational readiness.
“We remain focused on disciplined execution as we transition toward production and unlock the full potential of our northern Montana assets."