Operational update

Helix Exploration PLC

13 February 2026

 

13 February 2026

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

Operational update

Helix Exploration PLC, the helium exploration and development company with near-term production assets within the 'Montana Helium Fairway', provides an operational update on its flagship Rudyard project.

During the final stages of commissioning, the Company identified a minor technical issue with the Variable Speed Drive ("VSD"), which had temporarily delayed the start of helium production. The issue has since been resolved, and the VSD is now operating seamlessly.

Helix intends to provide a further update to the market regarding its production milestone together with a broader operational update, during the week commencing 16 February 2026. Once production is underway, Helix plans to host several prospective offtake partners at the Rudyard site. The Company will evaluate potential offtake arrangements with a focus on securing the most attractive terms to maximise shareholder value.

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

"Our team has worked tirelessly, and thanks to their dedication and expertise, we are now closer than ever to achieving a significant milestone - becoming the first helium producer in the state of the Montana.

"The Board remains confident in the tremendous potential of the Rudyard project and is excited to take this important step towards production, creating value for our shareholders while contributing to the global helium market."

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	[e-mail]

Cairn - Nominated Adviser

Liam Murray	[phone]
Ludovico Lazzaretti
James Western

Hannam & Partners - Joint Broker

Neil Passmore	[phone]
Leif Powis

Camarco - Financial PR

Tilly Butcher	[phone]
Sam Morris	[e-mail]

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 Q1 2026. 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.

 

END