Helix Exploration: Rudyard Operational Update

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("UK MAR").

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16 October 2026

Helix Exploration PLC

("Helix" or the "Company")

Rudyard Operational Update

Approval granted to restart Rudyard operations immediately

Further to the Company's announcement on 3 September 2026, Helix Exploration PLC (AIM: HEX, OTCQB: HEXFF), the US-focused helium producer and liquefier, provides the following update on commercial operations at the Rudyard facility in Montana following the hearing held on 15 October 2026 before the Montana Board of Oil and Gas Conservation ("MBOGC").

The MBOGC has granted an exemption, subject to standard periodic gas composition review, allowing the Company to vent waste gas (which at Rudyard is primarily nitrogen) and therefore restart Rudyard operations with immediate effect.

The Company has commenced the process of restarting the wells and production facility and expects to recommence filling tube trailers on a continuous rotation basis, pursuant to the helium sales arrangement announced on 25 September 2026, within the coming days. Both of the Company's leased tube trailers are at the facility awaiting filling. A further announcement will be made once flow rates have been established and filling has recommenced.  

Bo Sears, Chief Executive Officer, commented:

"We thank the Montana Board of Oil and Gas Conservation for granting its approval to restart operations at Rudyard. We look forward to bringing the wells back on and restarting the facility while simultaneously advancing our field expansion programme."

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About Helix

From explorer to integrated US helium producer in just over two years.

Helix Exploration PLC (LSE: HEX) is a US-focused helium producer and liquefier building an integrated position across the helium value chain. Its flagship Rudyard Project in Montana commenced production in February 2026, with first commercial sales in July 2026. Following approval from the Montana Board of Oil and Gas Conservation on 15 October 2026, production is being restarted after the regulatory pause announced on 3 September 2026.

Helix is now expanding Rudyard through a drilling and processing capacity programme, supported by its own drilling rig, while the July 2026 acquisition of the Keyes Helium Complex in Oklahoma provides ownership of one of only six operational helium liquefaction facilities in the United States.

The combination of producing helium resources, owned drilling capability and liquefaction infrastructure gives Helix unique control across the value chain and creates multiple avenues for growth, including increased production, third-party processing and liquefaction.

Helix is focused on scaling a vertically integrated helium business positioned to serve the growing North American and global markets.

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Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.