Helix Exploration, the helium exploration and development company focused on helium deposits within the 'Montana Helium Fairway', is pleased to announce the commencement of drilling at the Rudyard project ("Rudyard") area in Montana.
Highlights
· Commencement of drilling at the Darwin #1 well, to test the stacked reservoir targets in the Souris, Red River and Dry Creek intervals.
· Historic drilling has tested helium flow to surface at up to 1.3% He and P50 Gross Contingent Resources of 484,193Mcf across the Souris and Red River intervals.
· Additional P50 Gross Unrisked Prospective Resources of 112,445Mcf in the untested Dry Creek interval.
· Drilling expected to take 2-3 weeks to complete, followed by wireline logging and extended flow tests.
· The Company remains fully funded for the drilling and testing of Darwin #1 at Rudyard, being run in parallel with extended well testing at Clink #1 at Ingomar Dome.
Details
Drilling has commenced at Darwin #1 well utilising Treasure State Drilling Cardwell KB-150 D1D Rig. Surface Casing has been set to a depth of 625ft (190m) and is preparing to drill on.
Drilling is expected to take 2-3 weeks to reach target depth of 5,500ft. The well is an appraisal well so will be completed with production casing prior to perforation and extended well testing.
The Company will keep investors updated as drilling progresses via RNS, including updates on any significant helium gas shows in drilling mud, wireline results, initial flow test gas composition and extended well test results.
