IN BRIEF: Helix Exploration announces farm-in agreement in Montana

Helix Exploration PLC - exploration company focused on the commercial development and ...

Alliance News 20 June, 2024 | 8:55PM
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Helix Exploration PLC - 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 - Announces the execution of a farm-in agreement whereby Helix buys a 100% working interest in 5,600 acres in Hill County, Montana from Adam Standiford, a consultant to the company for USD250,000 in cash and shares. In addition, Standiford will receive 600,000 shares in Helix at a price of 10 pence each as an introducer fee pursuant to his consultancy agreement. Helium has been proven from two wells in a 640-acre section on the northern anticline and adjacent to the Rudyard Project, both of which tested favourably for helium grade and overall flow rates though these wells are not included in the current Rudyard Project acquisition.

Chief Executive Bo Sears says: "Expanding our helium exploration portfolio is a strategic priority for Helix Exploration. The Rudyard Project represents an exciting addition that complements our flagship Ingomar Dome Project, which we expect to begin drilling in [the third quarter]."

Current stock price: 22.67 pence

12-month change: up 118%

By Jeremy Cutler, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Helix Exploration PLC 24.08 GBX 0.33 -

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