Discovery Clonk 119 Nov 2024 07:03
Highlights
· Flathead formation gas sample tested 2.5% helium, demonstrating significant helium potential with additional stimulation required to generate commercial flow rates.
· Flathead formation tested 55.2% hydrogen in gas sample isolated from drilling mud, in contrast to formation gas sample tested 0.7% hydrogen.
· Successfully flowed 4,250 thousand cubic feet per day (Mcf/d) of raw gas from the Amsden formation on a 30/64" choke and 1,050 PSI wellhead pressure.
· Amsden formation appears to be a robust gas producer with additional gas analysis underway.
· Absolute Open Flow (AOF*) estimated to be up to 8,000 Mcf/d.
· Charles formation exhibiting strong pressure indications for future stimulated flow testing.
*AOF is the maximum production rate and does not represent sustained production rates. Prudent flow rates will be lower.
Bo Sears, CEO of Helix Exploration, said:
"Clink #1 has delivered encouraging results, particularly in the Amsden formation, which has demonstrated robust production potential. The unexpected findings in the Flathead formation-including 2.5% helium in sampled gas and 55.2% hydrogen concentration in gas isolated during drilling- represent a unique and exciting opportunity for the Company. We can see significant opportunities to collaborate with experts in the hydrogen field to understand the origins and potential of the Ingomar system.
"The results underscore the significant untapped potential of our Montana Helium Fairway acreage. This lays a strong foundation for advancing shareholder value as we continue to unlock the value of our portfolio for shareholders."