Helix Exploration Secures Rig for Rudyard Re-Entry and Coring Program

Helix Exploration PLC (AIM: HEX), the helium exploration and development company with near-term production assets within the Montana Helium Fairway, has secured a drilling rig to re-enter the Inez #1 well at its flagship Rudyard Project, marking a major step toward validating natural hydrogen potential within the same subsurface system already known for helium production.

Operations are set to begin the week of November 17, 2025, with the campaign focused on coring an additional 30–40 feet of ultramafic rock — the reactive rock type responsible for generating natural hydrogen through serpentinization. The re-entry will also remove existing tubing to enable a full evaluation of the Souris River zone.

Geochemical results announced in October revealed a ³He/⁴He ratio of 0.74 Rₐ, indicating a ~9% mantle helium component: one of the highest values recorded in the continental U.S. outside of Yellowstone. This mantle connection, combined with hydrogen-producing ultramafic lithologies, positions Rudyard as one of North America’s most promising dual hydrogen–helium systems.

“Coring the ultramafic interval in the Inez #1 well represents a defining moment for Helix,” said Bo Sears, CEO of Helix Exploration. “The rock composition and alteration signatures are consistent with active natural hydrogen generation — and we believe these core samples could be the first ever taken from an ultramafic zone at this depth in the United States.”

Following coring and evaluation, Helix plans to perforate the Souris River zone to initiate helium production, supplying its nearby PSA/Membrane processing facility in Rudyard. This integrated strategy, leveraging existing helium infrastructure while testing for hydrogen generation, underscores Helix’s ambition to become a first mover in U.S. natural hydrogen co-production.

The Rudyard field currently hosts four production wells, targeting helium/nitrogen gas in the Souris and Red River formations, flowing up to 3,800 Mcf/day at 1.2% helium. Helix estimates potential net revenues of $115–$220 million over a 12.5-year field life.

With both hydrogen and helium now in focus, Helix is building a pathway toward multi-resource clean gas development that bridges near-term revenue and long-term energy transition potential.

Full press release is attached below:

13 November 2025

Helix Exploration PLC
("Helix Exploration" or "Helix" or the "Company")

Helix Exploration PLC, the helium exploration and development company with near-term production assets within the 'Montana Helium Fairway', is pleased to announce that it has secured a drilling rig to re-enter the Inez #1 well at its flagship Rudyard Project.

The operation represents the next step in evaluating the Rudyard subsurface system for potential hydrogen resources, supported by previous findings of mantle helium signatures and rock chemistry conducive to natural hydrogen generation.

Highlights

• Rig Secured for Re-Entry: Helix has finalised a rig contract to re-enter the Inez #1 commencing the week of 17 November 2025.
• Targeting Hydrogen Source Rocks: The Company will remove existing production tubing and drill through to total depth, coring an additional 30-40 feet of ultramafic rock - the critical rock type responsible for natural hydrogen generation.
• Evidence of Deep Mantle Connection: As announced on 16 October 2025, geochemical studies have confirmed a ³He/⁴He ratio of 0.74 Rₐ, representing a ~9 % mantle helium component and one of the highest ratios recorded in the continental United States outside Yellowstone.
• Hydrogen Potential: The combination of altered ultramafic lithologies, mantle helium, and active fluid pathways makes Rudyard one of the most scientifically compelling and economically attractive natural hydrogen prospects in North America.
• Helium Production Integration: Following coring operations, Helix will perforate the entire Souris River zone to complete the well for helium production, enabling helium bearing gas to supply the Company's new PSA/Membrane processing plant in Rudyard.

Background

Natural hydrogen is the cleanest and most cost-effective hydrogen on Earth, generated deep underground by simple natural reactions between water and ultramafic rock - with zero carbon emissions. Unlike synthetic hydrogen ("grey hydrogen") produced from fossil fuels, geological hydrogen offers a self-recharging, emission-free resource.

Helix intends to deliver near-term helium revenue while pioneering one of North America's first commercial natural hydrogen discoveries.

Bo Sears, Chief Executive Officer of Helix Exploration, commented:

"Coring the ultramafic interval in the Inez #1 well represents a defining moment for Helix. Laboratory results from our XRD, XRF, and Mössbauer analyses identified that these rocks are actively undergoing, or have undergone, alteration processes capable of generating hydrogen. The rock exhibits a composition and geochemical balance consistent with systems known to generate hydrogen through natural alteration processes that can remain active over long geological timescales. To my knowledge, no better rock has been encountered in the United States for geological hydrogen exploration. We believe these core samples will be the first ever taken from an ultramafic zone at this depth in the U.S., and they provide a rare opportunity to study a live hydrogen-forming system in place. While our immediate focus is on coring this lower hydrogen interval, we will also be testing the upper Souris River for helium production. Together, these efforts advance our goal of unlocking two clean energy resources-helium and hydrogen-from the same subsurface system."

This announcement contains inside information for the purposes of the UK Market Abuse Regulation, and the Directors of the Company are responsible for the release of this announcement.

Enquiries

Helix Exploration

Bo Sears | via Camarco
Keith Spickelmier | info@helixexploration.com  | 

Notes to Editors

Helix Exploration is a helium exploration company focused on the exploration and development of helium deposits within the 'Montana Helium Fairway'. Founded by industry experts with extensive experience of helium systems in the US, the Company listed in April 2024.

Helix is focused on production at its Rudyard Project in northern Montana, taking advantage of existing infrastructure and low-cost processing to target first gas in 2025. The Company has four production wells targeting up to 236ft Helium / Nitrogen gas in the Souris and Red River formations, flowing up to 3,800 Mcf/day at 1.2% helium. Rudyard field can support multiple production wells and has potential to generate net revenue of $115 - $220 million over a 12.5 year life of field.

Helix is committed to open and transparent communication with investors and the wider market as the project progresses through development into production.

"Our approach is simple: build scale efficiently, develop resources strategically, and deliver near-term cash flow." CEO - Bo Sears

The Company's Admission Document, and other information required pursuant to AIM Rule 26, is available on the Company's website at https://www.helixexploration.com/.

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.