Helix Exploration commences re-entry operations at Inez well

(Alliance News) - Helix Exploration PLC on Tuesday said it has begun re-entry operations at the Inez 1 well, with the company set to perforate the Souris River interval "in the coming days".

The London-based helium exploration and development company is advancing the Rudyard helium project in northern Montana.

Helix Exploration said re-entry operations are now live, with Helix rigged up and actively entering the Inez 1 wellbore.

The company said production from the Souris River interval is the re-entry objective.

Helix explained that during initial perforation operations at Inez, downhole equipment was lodged in the wellbore and needed a retrieval operation to proceed to full-interval production perforation.

Should the retrieval be successful, Helix said it will evaluate an option to core the hydrogen-bearing interval at Inez 1. If the retrieval is not successful, the company said equipment will be left in place and it will proceed to re-perforation of the Souris River interval and production.

The company said the commencement of re-entry operations at Inez 1 advances its goal of building production scale efficiently and systematically.

Shares in the company were down 0.8% at 40.68 pence on Tuesday morning in London.

"I am pleased to announce that operations have commenced. The rig is on site, and we have re-entered the well over the weekend, as planned following announcement of our offtake arrangement to the market," said Chief Executive Bo Sears.

"We will perforate the Souris River interval in the coming days and look forward to evaluating its potential. Production is our objective - and what we will deliver as we continue to grow our asset base and strengthen our offtake arrangements."

By Christopher Ward, Alliance News reporter

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