Rudyard – Extension of Helium Sales Arrangement

In brief · summary, not quotable

Helix Exploration PLC has extended its spot sales arrangement for helium from the Rudyard facility through to March 2027, committing 100% of available volumes to an industrial gases customer. This six-month extension follows initial commercial sales and includes terms significantly above the company's pre-IPO pricing assumptions, though specific commercial details remain confidential. The company is also progressing its production expansion program, expecting to add additional wells and facilitate continuous trailer rotation for sales.

Full announcement

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Helix Exploration PLC (AIM: HEX, OTCQB: HEXFF), the US-focused helium producer and liquefier, is pleased to announce an extension of its spot sales arrangement (the "Sales Arrangement") with an industrial gases group (the "Customer") for the supply of helium, once production re-commences at Rudyard, through to March 2027.

Highlights

Six-month extension of the Sales Arrangement follows the initial three helium tube trailer sales to the Customer during Rudyard’s start-up phase representing Helix’s commercial debut in the helium market.

100% of available helium volumes from Rudyard committed to the Customer through to March 2027, with the potential for longer-term and higher-volume arrangements to be agreed in due course, supporting the Board's strategy of developing a diversified route-to-market portfolio.

Commercial terms remain confidential, including Customer identity and prices, in line with customary practice for helium offtake arrangements. The agreed pricing is significantly above the pricing assumptions used in the Company’s pre-IPO model.

Continuous trailer rotation will facilitate helium sales, using a combination of Helix-leased and Customer-supplied tube trailers.

Additional wells expected to be added through the ongoing production expansion programme.

Bo Sears, Chief Executive Officer, commented:

"Having demonstrated our capability as a supplier of high-grade helium to an important industrial gases group, we are pleased to convert a short-term arrangement into a longer-term spot sales agreement, taking advantage of strong helium demand. With a production expansion programme underway, we look forward to increasing sales volumes to the Customer over time.”

LinkedIn: https://www.linkedin.com/company/helixexploration