12th Aug 2024 10:55
(Alliance News) - Helix Exploration PLC on Monday said that drilling of the Clink 1 well on the Ingomar Dome project area in Montana has started.
Helix is an exploration company focused on the commercial development and monetisation of a non-hydrocarbon associated helium rich gas structure in the Ingomar Dome, located in central Montana.
Drilling will test stacked reservoir targets, with known gas identified in the Amsden, Charles and Flathead formations
"We are delighted to commence drilling at the Clink 1 well on the crest of the Ingomar Dome anticline....This well will allow us to fully appraise each target horizon with an extended flow test. If successful, the Clink 1 well will be used as a future production well, reducing time and cost to move towards first gas production anticipated before the end of 2025," explained Chief Executive Officer Bo Sears.
Drilling will take three or four weeks to complete, and will be followed by wireline logging and extended flow tests.
"I'd like to express my gratitude to everyone involved in bringing the company from IPO to drilling in less than 4 months. We look forward to keeping the market informed and to delivering a safe and successful drilling campaign," CEO Sears added.
Shares in Helix Exploration were down 7.7% to 18.82 pence each in London on Monday morning.
By Holly Beveridge, Alliance News senior reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.