Business
Half-Year Report
Helix Exploration PLC has transitioned from an explorer to a producer, commencing helium production at the Rudyard Project in February 2026 and securing its first helium sales arrangement in May 2026 at pricing materially above pre-IPO assumptions. The company also strategically acquired the Cardwell KB-150 drilling rig for US$600,000 in June 2026, enhancing drilling control and future expansion capabilities. For the six months ended 31 March 2026, Helix reported an operating loss of £780,000 and a total comprehensive loss of £801,000, with cash and cash equivalents standing at £1,754,000. Disclaimer*
About this update from Helix Exploration Plc
30 June 2026 Helix Exploration PLC ("Helix Exploration", "Helix" or the "Company") Half-Year Report Helix Exploration (LSE: HEX), the US based helium producer, is pleased to announce its unaudited Interim Report for the six months ended 31 March 2026 ("Interim Report"). Highlights: · Transitioned from explorer to producer - commenced helium production at the Rudyard Project in February 2026, becoming the first helium producer in Montana and establishing operational production and a route to market. · Advanced field development activities - including continued testing of the Inez well, assessment of Rudyard's longer-term hydrogen potential, and expansion of operational infrastructure. · Strengthened logistics capability - leased first dedicated high-pressure jumbo tube trailer, with plans to add further transport assets as production scales. Post period end: · Secured first helium sales arrangement - agreed spot supply arrangement in May 2026 with an industrial gases group, establishing route to first contracted sales at pricing materially above pre-IPO assumptions. · Enhanced drilling control and future expansion capability - low-cost, strategic conditional acquisition in June 2026 of the Cardwell KB-150 rig, reducing future drilling costs, eliminating contractor dependence, and providing greater certainty over drilling schedules and production growth. Keith Spickelmier, Non-Executive Chairman, said: "In the first half of the financial year, Helix transitioned from explorer to producer. As one of the very few, low-cost helium producers in the United States, with production established, a route to market opened, and control of our own expansion drilling secured, the Company is exceptionally well placed to capitalise on market conditions and convert its position into sustainable cash flow and lasting value." CEO's Statement I am pleased to present the Company's unaudited interim results for the six months ended 31 March 2026. The period saw Helix achieve its primary objective that it has been working towards since admission to AIM two years ago: commencing helium production in Montana and becoming the first helium producer in the state. With ...
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