Helix Exploration Announces Significant Helium Discovery at Rudyard Project

December 12, 2024 10:26 PM AEDT | By Team Kalkine Media

Helix Exploration Announces Significant Helium Discovery at Rudyard Project — Image source: Shutterstock

Discovery Details

The Darwin #1 well has logged commercial flow rates of 2,750 thousand cubic feet per day (Mcf/d) of raw gas on a 40/64" choke, confirming the presence of valuable helium resources. This marks a critical step in Helix Exploration’s journey to establish itself as a leader in the growing helium sector.

Chief executive Bo Sears described the discovery as “company-making,” highlighting its commercial significance and the potential to accelerate Helix’s roadmap toward production. “With deep experience taking helium projects through exploration into production, the board is uniquely positioned to rapidly advance our projects,” he noted in the company’s trading update.

Attractive Project Economics

Helix emphasized the Rudyard Project’s low capital requirements and high-yield return on investment as key advantages. These factors make the project highly attractive for various forms of project financing, paving the way for swift development and operational scaling.

Path to Cash Flow

Looking ahead, Helix has ambitious plans to transition from exploration to cash-generating operations before the end of 2025. The company’s strategic focus on leveraging its helium resources aligns with the growing demand for this critical gas, which is vital for industries such as healthcare, technology, and aerospace.

Market Response

The market responded positively to the news, with Helix shares climbing to 19.62p in Thursday’s trading session. This reflects strong investor confidence in the company’s ability to capitalize on its latest discovery and deliver long-term value.

A Promising Future

As the Rudyard Project moves forward, Helix Exploration is poised to strengthen its position within the helium industry. With its combination of high-potential assets, experienced leadership, and favorable project economics, the company is set to make significant strides in the year ahead. Further updates on development plans and progress toward production are anticipated, with 2025 shaping up to be a pivotal year for Helix Exploration.

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