Rudyard – Ross #1 Well Spud

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("UK MAR").

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26 October 2026

Helix Exploration PLC

("Helix" or the "Company")

Rudyard - Ross #1 Well Spud

Helix Exploration PLC (AIM: HEX, OTCQB: HEXFF), the US-focused helium producer and liquefier, is pleased to announce the spudding of the Ross #1 well on 23 October 2026, following permit approval by the Montana Board of Oil and Gas Conservation ("MBOGC").

Ross #1 is intended to be the fifth production well in the Northern Dome of the Rudyard field and is targeting the same proven Souris River and Red River formations from which the current well stock are producing. The well is situated approximately one mile north north-east of the processing plant.

The Ross #1 well is to be drilled to a total depth of approximately 5,500 ft and is expected to take approximately 21 days to drill, followed by wireline logging, extended flow testing and gas analysis.

Subject to flow testing and gas analysis, Helix intends to tie the Ross #1 well into the existing gathering system and connect it to the PSA Plant. A further announcement will be made upon completion of the Ross #1 well.

Helix is currently operating three wells at Rudyard - Darwin #1, Linda #1 and Weil #1 - all of which are producing high grade, commercial helium pursuant to a spot sales arrangement and are connected to the gathering system, providing throughput to the PSA plant. Since resuming production on 16 October 2026, Helix has resumed filling tube trailers on continuous rotation with the first tube trailer having been filled. A fourth well - Ollie #1 - is awaiting flow testing and gas analysis soon and is thereafter expected to be connected to the PSA Plant.

The Company is reviewing additional helium well locations as candidates for the next well following completion of Ross #1, as part of its planned production expansion programme.

Bo Sears, Chief Executive Officer, commented:

"By virtue of controlling our own drilling equipment we were able to prepare the drill pad and mobilise the rig to the Ross #1 well site swiftly to be ready to spud the well within 2 days of the MBOGC's permit approval.

"Rudyard operations are in full swing. We're actively sending helium to our customer while simultaneously advancing a pipeline of future wells in multiple locations.

"We look forward to providing an update on perforating and testing target intervals at Ollie #1. I'm particularly excited about that having recorded the highest mudlog helium readings I have encountered to date.

"With global helium supply under unprecedented pressure, and demand accelerating from AI, semiconductors and defence, there has never been a better time to be a helium producer."

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About Helix

From explorer to integrated US helium producer in just over two years.

Helix Exploration PLC (LSE: HEX) is a US-focused helium producer and liquefier building an integrated position across the helium value chain. Its flagship Rudyard Project in Montana commenced production in February 2026, with first commercial sales in July 2026. Following approval from the Montana Board of Oil and Gas Conservation on 15 October 2026, production is being restarted after the regulatory pause announced on 3 September 2026.

Helix is now expanding Rudyard through a drilling and processing capacity programme, supported by its own drilling rig, while the July 2026 acquisition of the Keyes Helium Complex in Oklahoma provides ownership of one of only six operational helium liquefaction facilities in the United States.

The combination of producing helium resources, owned drilling capability and liquefaction infrastructure gives Helix unique control across the value chain and creates multiple avenues for growth, including increased production, third-party processing and liquefaction.

Helix is focused on scaling a vertically integrated helium business positioned to serve the growing North American and global markets.

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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.