Helix Exploration's OTCQB Listing and Rudyard Project: A Play on Helium Scarcity and U.S. Investor Momentum

The global helium market is at a crossroads. Critical to semiconductor manufacturing, medical imaging, and aerospace, helium is now a strategic resource amid supply shortages fueled by geopolitical tensions and aging infrastructure. Enter Helix Exploration (OTCQB: HHEXF), a dual-listed company leveraging its U.S. helium reserves and strategic market access to capitalize on this scarcity. With its OTCQB debut and the 2025 start of production at the Rudyard Project—a venture with a $146 million NPV8 (net present value at 8%)—Helix is positioned to deliver outsized returns for investors.

Helium's Strategic Importance in a Supply-Constrained Market

Helium is a non-renewable gas with no substitutes, yet global supplies are tightening. Russia's sanctions have disrupted exports, Qatar's production faces Middle East volatility, and the U.S., the world's largest supplier, is racing to secure domestic reserves. The U.S. government has responded with policies like the CHIPS Act and the 2019 Dingell Act, which prioritize domestic production of critical minerals and gases. This creates a tailwind for companies like Helix, which are advancing projects aligned with U.S. supply chain resilience.

The Rudyard Project in Montana exemplifies this opportunity. Targeting the Montana Helium Fairway, a region with reserves dating back to a 1977 U.S. Department of Commerce report, Helix is reactivating the Xebec PSA processing plant—a $500,000 acquisition that slashes time-to-production. The project's three wells aim to deliver up to 3,800 Mcf/day of helium at 1.1% concentration, with an estimated $115–220 million in net revenue over 12–14 years. Crucially, Rudyard's $146 million NPV8 (based on Aeon Consultants' analysis of proven reserves and contingent resources) reflects its potential to generate $16.5–28 million in annual post-tax cash flow—a lifeline for investors seeking steady returns in a volatile market.

Dual Listing on OTCQB: A Catalyst for Liquidity and U.S. Investor Reach

Helix's dual listing on AIM (HEX) and the OTCQB (HHEXF) since April 2024 and May 2025, respectively, has been a masterstroke. The OTCQB listing eliminates cross-border friction for U.S. investors, enabling trading in USD during local market hours without Sarbanes-Oxley compliance burdens. This expands Helix's investor pool, reducing reliance on European markets and amplifying liquidity.

The move also signals confidence in Helix's operational execution. Since its AIM debut, the company has raised £7.5 million at 10p per share and secured a January 2025 equity raise at 15p per share—a 50% premium—highlighting investor enthusiasm. Oak Securities recently upgraded its price target to 93p, implying a 620% upside from current levels (as of May 2025).

Risk Mitigation: Federal Policy Alignment and Operational Strength

Helix's projects are designed to navigate U.S. regulatory hurdles. The Bureau of Land Management (BLM)'s leasing rules, which once delayed development, are now being met through partnerships like the one with Wikota Construction, ensuring compliance while accelerating timelines. CEO Bo Sears emphasizes that Rudyard's “low-cost, scalable model”—leveraging existing infrastructure—minimizes execution risks.

The company's focus on direct-to-end-user supply (bypassing middlemen) further insulates it from price volatility. With helium prices averaging $500/Mcf and rising, Rudyard's output is already priced to outperform.

The Investment Case: Buy Now, Target 93p

Helix's dual listing and Rudyard's 2025 production start create a triple catalyst scenario:
1. Near-Term Cash Flow: First gas by late 2025 will validate the project's economics.
2. Valuation Upside: The $146 million NPV8 for Rudyard and the $304 million NPV8 for the adjacent Ingomar Dome (a future growth asset) suggest the company is undervalued at current levels.
3. Liquidity Surge: OTCQB access will attract U.S. institutional investors, driving multiple expansion.

With Oak Securities' 93p price target and a current price of ~15p, the risk-reward is compelling. The low entry cost and high leverage to helium demand make Helix a must-watch play in a $8 billion market with no substitutes.

Conclusion: Act Before the Helium Rally

Helix Exploration is at an inflection point. Its dual listing on OTCQB opens the door to U.S. capital, while Rudyard's production timeline and NPV8 provide a clear path to profitability. With global supply constraints and U.S. policy tailwinds, now is the time to buy HHEXF—before the market fully recognizes its potential.

Rating: Buy
Target Price: 93p (equivalent to $1.18 USD)

DISCLAIMER: This analysis is for informational purposes only. Investors should conduct their own due diligence.