Helix Exploration PLC (AIM:HEX, OTCQB:HHEXF) CEO Bo Sears talked with Proactive about the latest developments at the Rudyard Field, where the Inez #1 well has confirmed helium-bearing zones across a broader area.
Sears explained that the logs from Inez #1 look identical to the earlier Linda #1 well, underlining the field’s large aerial extent.
"The PSA is effectively finished. There's just some minor piping to be done," Sears said. He noted that once the concrete pad is completed, membrane units will be installed and the equipment will be moved onsite.
These steps are expected to lead to first helium production on schedule.
Sears also highlighted how Helix aims to become Montana’s first helium producer, supported by a strong local team and backing from the state.
He emphasised that wireline logging is already complete and well completion operations are underway. The next phase involves perforating the target zones to commence flow testing, which will help further de-risk the Rudyard project and define its production profile.
Proactive: Bo, very good to speak with you. With Inez #1 confirming helium-bearing zones across a wider area, how does this impact your estimates for the Rudyard Field’s total reserves and long-term production potential?
Bo Sears: Yeah. With this new well, with the Inez #1, it just further highlights the aerial extent of this field. It’s quite large. We just ran logs. The logs look identical to the Linda #1 well. So we are really pleased with the results here.
Proactive: Can you share some more about the timeline from completing the PSA plant installation to achieving first helium production, and what milestones investors should be watching out for?
Bo Sears: Yeah. So the PSA is effectively finished. There’s just some minor piping to be done. We’re waiting on the delivery of the membrane units. Once the concrete pad is built on the pad site that we’ve already begun construction on, we’ll just start moving that equipment up there. So everything is right on time. We’re really excited. The teams that have been working on this have been outstanding. So we couldn’t be happier.
Proactive: Bo, how do you see Helix differentiating itself as the first helium producer in Montana, especially in terms of cost efficiency and speed to market compared to other North American projects?
Bo Sears: It’s exciting. Even I almost can’t believe it, Stephen. We have really assembled a great team over here on the US side, specifically in Montana, and everything has just gone so well that we couldn’t be happier. To be the first helium producer in Montana is very exciting. We’re getting a lot of support from the state. So I think the entire state is very excited about the prospects of helium exploration and production in the state.
Proactive: And what role will the upcoming wireline logging and flow testing play in de-risking the Rudyard project? When do you expect to have those results?
Bo Sears: Logging is complete. We are actually completing the well right now, setting casing and submitting that to surface. Once we are ready, we will go in there with perforating guns and perforate the zones of interest, and we’ll get going.
Proactive: Well, Bo, I hope you’ll continue to keep us updated with progress. Thank you very much for speaking with us today.