Helix Exploration declares discovery in Clink well – exceptionally high helium and hydrogen concentrations
HeLIX Exploration PLC (AIM:HEX) has declared its Clink-1 well a new discovery, as it reported latest test results.
The well, part of the Ingomar Dome project, in Montana, demonstrated robust production potential in the tests, the company told investors..
It tested multiple zones, with the Flathead formation notably yielding exceptionally high helium and hydrogen concentrations (2.5% and 55.2% respectively in samples), ahead of management expectations.
The Amsden formation showed robust production rates, flowing 4,250 thousand cubic feet per day (Mcf/d) of raw gas – with estimates under production pitched at up to 8,000 Mcf/d. Gas analysis is underway to confirm sustained production rates.
Clink’s Charles formation did not flow to the surface during the initial test, but Helix said it anticipates that its strong pressure readings and drilling data indicate significant potential for the future. Helix plans additional testing to unlock value from this reservoir.
Chair David Minchin said in a statement,
The discovery of helium at Clink #1 is a milestone event for the company and a significant achievement considering we only listed in April 2024,
“With testing ongoing at Clink #1 and ready to commence at Darwin #1, we hope that this is the first of several discovery announcements to be made before the end of this year.”
Bo Sears, Helix chief executive, added:
Clink #1 has delivered encouraging results, particularly in the Amsden formation, which has demonstrated robust production potential.
“The unexpected findings in the Flathead formation-including 2.5% helium in sampled gas and 55.2% hydrogen concentration in gas isolated during drilling- represent a unique and exciting opportunity for the company. We can see significant opportunities to collaborate with experts in the hydrogen field to understand the origins and potential of the Ingomar system. The results underscore the significant untapped potential of our Montana Helium Fairway acreage. This lays a strong foundation for advancing shareholder value as we continue to unlock the value of our portfolio for shareholders.”
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Helix Exploration declares discovery in Clink well – exceptionally high helium and hydrogen concentrations, source
