Business
Completion of Drilling at Clink #1
Completion of Drilling at Clink #1.
About this update from Helix Exploration Plc
[{"type":"text","content":"\n\n28 August 2024\nHelix Exploration PLC\n(\"Helix Exploration\" or \"Helix\" or the \"Company\")\n \nCompletion of Drilling at Clink #1\n \nHelium Shows and Hydrogen Shows in Cambrian Strata\n \n \nHelix Exploration, the helium exploration and development company focused on helium deposits within the 'Montana Helium Fairway', is pleased to report the completion of drilling activities on the Clink #1 well at the Ingomar Dome Project.\n \nHighlights\n· Completion of drilling at Clink #1 to Target Depth (\"TD\") of 8,030ft (~2,450m), delivered ahead of time and below budget.\n· Elevated helium encountered in drilling muds throughout the sedimentary column demonstrates presence of helium within all target horizons. \n· Significantly elevated hydrogen in drilling muds of up to 103,000ppm (10.3% H2) demonstrates presence of a hydrogen system within Cambrian strata.\n· Wireline logging and appraisal via extended flow testing will commence shortly to enable the Company to assess the helium and hydrogen concentrations.\n \n \nBo Sears, CEO of Helix Exploration, said:\n \n\"We are delighted to report the safe and successful completion of the drilling of our maiden exploration well at Clink #1 delivered ahead of time and below budget. Drill operations took 11 days from spud to Target Depth, completing well ahead of the 2-3 week guidance provided.\n \n\"We are highly encouraged by anomalous helium identified in all target strata, indicating that we have elevated levels of helium throughout the sedimentary column. Additionally, the discovery of anomalously high hydrogen shows within Cambrian strata is a welcome development. A number of highly elevated readings up to 103,000ppm (10.3%) suggest a significant level of hydrogen in the lower part of the system. This will need to be fully investigated before any conclusions on economic potential can be drawn.\n \n\"We are now moving directly onto preparing the well for wireline logging and appraisal via extended flow testing and will keep the market updated as we learn more about the helium and hydrogen system identified in mud-shows at the Ingomar Dome Project.\" \n \nBackground\n \nThe Clink #1 well reached Target Depth (\"TD...