Helix Exploration Names Matthew Ciardiello as CFO as Ryan Neates Steps Down Amid Key Operational Milestones

Matthew Ciardiello’s CFO Appointment and Expertise in Natural Resources

At 44 years old, Matthew Ciardiello joins Helix Exploration as CFO and Board Director starting 31 July 2026. A natural resources specialist, Ciardiello brings over 20 years of experience encompassing roles as founder, board member, principal investor, and advisor. He currently leads Anexus CFO, a fractional CFO service provider focused on natural resources clients. His appointment represents a strategic move to centralize Helix’s finance operations in the US, aligning with the location of its helium production and liquefaction assets.

Ciardiello’s professional background includes CFO positions at US companies Thermolic and Gura Gear. He founded and served as CEO of Poplar Resources LLC, where he managed a nitrogen-enhanced oil recovery project and pursued helium exploration in Montana’s oilfields, directly relevant to Helix’s Rudyard Project. Additionally, he was CFO of NASDAQ-listed Magellan Petroleum Corporation, overseeing operations across Montana, Australia, and the UK, providing him with extensive experience in managing public companies and multi-jurisdictional assets.

Ryan Neates’ Departure After Two Years of Helium Production Growth

Ryan Neates is stepping down as CFO and Board Director to enable the consolidation of Helix’s finance function in the US. During his two-year tenure, Neates guided the company through significant milestones, including financing and launching one of North America’s few new primary helium projects and acquiring a key processing asset to diversify revenue streams. Chairman Keith Spickelmier praised Neates’ contributions to Helix’s commercial progress.

Neates expressed pride in Helix’s rapid development and highlighted the company’s strong foundation for becoming a fully integrated helium producer capable of disrupting the industry and creating shareholder value. He noted that Ciardiello’s appointment marks a natural transition from the establishment phase to operational maturity. Neates will continue supporting UK-based financial and reporting matters, ensuring continuity in administrative functions. No details on severance or future roles beyond UK-related support were disclosed.

Helix’s Rudyard Project in Montana Begins Commercial Helium Production

The Rudyard Project, Montana’s first producing helium field, represents a major milestone for Helix Exploration. Featuring three stacked helium reservoirs and an initial four wells, production started in February 2026 using an on-site pressure swing adsorption (PSA) facility. The project’s first commercial helium sales began in July 2026 to an industrial gases group.

Ciardiello’s appointment coincides with this operational transition from development to revenue generation, necessitating financial leadership with expertise in US-based helium operations. The Rudyard assets are characterized by low-cost production, established infrastructure, and fully funded expansion potential, positioning Helix for sustainable growth.

Strategic Acquisition of Keyes Helium Complex Enhances Integrated Model

Helix’s acquisition of the Keyes Helium Complex in Oklahoma marks a transformative step, expanding the company from upstream helium production to an integrated producer with liquefaction capabilities. The Keyes facility is one of only six operational helium liquefaction plants in the US, providing a strategic advantage. This vertical integration enables Helix to process its own helium and offer liquefaction services to third parties, enhancing revenue diversity.

The acquisition supports the expanding North American helium market by offering flexible, independent liquefaction capacity. Combining upstream production in Montana with downstream processing in Oklahoma creates a multi-state operational footprint, underscoring the need for a CFO experienced in managing complex, multi-asset natural resources businesses, as Ciardiello’s background demonstrates.

Educational and Professional Credentials of Matthew Ciardiello

Ciardiello holds a Bachelor of Arts degree from Harvard University and is a Chartered Financial Analyst (CFA) charterholder, reflecting rigorous financial and investment expertise. The announcement does not specify his academic major, CFA completion date, or other certifications. At appointment, Ciardiello holds no shares or options in Helix Exploration, indicating future alignment with shareholders will depend on forthcoming equity compensation arrangements.

Board Remarks on Leadership Transition and Strategic Outlook

Helix Chairman Keith Spickelmier stated, "We are pleased to welcome Matthew to Helix. His extensive geographical and commodity experience will be invaluable as we operate revenue-generating assets in Montana and Oklahoma." This confirms the board’s focus on Ciardiello’s helium sector expertise and familiarity with multi-state US operations.

Spickelmier also thanked Neates for his two years of service, highlighting his role in financing and bringing to commercial production one of North America’s few new primary helium projects and acquiring a strategic processing asset. The board anticipates Neates’ continued support on UK financial and reporting matters, reflecting Helix’s ongoing UK regulatory obligations due to its London Stock Exchange listing.

Regulatory Disclosures and Past Directorships

In compliance with AIM Rules, the announcement discloses Ciardiello’s full name as Matthew Ryan Ciardiello, age 44, with no current shares or options in Helix Exploration. No current directorships were reported at appointment. Past directorships over the last five years include Poplar Resources Corporation, Poplar Holdings LLC, TerraStor Energy Corporation, BoardBuild, Adam Energy Fort Worth, and several non-profit organizations.

Notably, Poplar Resources LLC, where Ciardiello was a director, filed for Chapter 7 bankruptcy in May 2025, with proceedings ongoing. Chapter 7 denotes liquidation in the US. The announcement provides no further details on Ciardiello’s role or the bankruptcy circumstances.

Helium Market Overview and Helix’s Industry Position

Helix operates in the specialized helium production and liquefaction sector, characterized by limited competition and high entry barriers. The Keyes Helium Complex is among just six operational helium liquefaction facilities in the US, highlighting the concentrated infrastructure. The Rudyard Project is Montana’s first producing helium field and one of few new primary helium projects in North America, underscoring limited new supply development.

Helix’s business model targets the growing North American helium market with flexible, independent liquefaction capacity, indicating demand outstrips current supply. The company’s assets are described as low-cost with established infrastructure, positioning Helix competitively, though no comparative cost or efficiency data was provided.

Investor Relations and Contact Information

For inquiries on the directorate change, Helix Exploration contacts include Bo Sears and Chairman Keith Spickelmier via [email protected]. Nominated Adviser Cairn representatives Liam Murray, Ludovico Lazzaretti, and James Western can be reached at +44 (0)20 7213 0880. Broker Hannam & Partners contacts Neil Passmore and Leif Powis are available at +44 (0)20 7907 8502. Financial PR support is provided by Vigo Consulting’s Ben Simons and Patrick d'Ancona at +44 (0)20 7390 0234 or [email protected].

Helix trades on the London Stock Exchange (ticker HEX) and OTCQB in the US (ticker HEXFF), offering investor access across major markets. Additional information and regulatory updates are available on the company website helixexploration.com, LinkedIn at linkedin.com/company/helixexploration, and X (formerly Twitter) at x.com/HelixExp.