Helios Energy Ltd

June 2026 quarter report: cash was A$1.729M. Philipp Kin's role as Managing Director ended and he resigned as a director on 3 July 2026. Helios began seeking farm-in partners for two conventional wells and one horizontal well. The $1.5M placement is also recorded.

quarterly activities report

Helios places 502.3M shares at $0.003 with Hong Kong-listed executive Hailin Jiang, raising $1,506,902 for working capital. A further 33.3M shares at $0.003 extinguish $100,000 of convertible notes. The price is well below the $0.007 raisings earlier in 2025, so existing holders are diluted.

capital raising announcement

Helios completes its first oil sales from the Presidio restart: 153 net barrels from wells 141#1 and 141#2, sold locally, with over 500 barrels stored onsite earlier. It is the first revenue step; conversion to long-term producers continues.

production update

Helios announces a new strategy: an initial ~15,500-acre 'sweet spot' to be tested with 1-2 wells after restarting 141#1 and 141#2, plus at least five conventional oil prospects it plans to farm out. It claims over US$40M spent and ~140 mmboe (2C), a much larger figure than January's 13.3-21.7 MMBOE.

other

Restart work is under way at wells 141#1 and 141#2, with intermittent oil, gas and condensate production and about 500 barrels stored onsite. Helios appoints contract Texas-based COO, Chief Geologist and Chief Drilling Engineer. This follows the earlier plan to get the wells producing.

production update

Entitlement offer closes with shareholder applications for 131.8M shares ($922,848). Underwriter Gleneagle takes the remaining 240.2M shares, so the full $2.6M is raised at $0.007 with 372M new shares issued 16 April. Only about 35% came from shareholders.

capital raising announcement

Helios raises about $1M via a placement of 142.9M shares at $0.007, plus a fully underwritten 1-for-7 entitlement offer at $0.007 for about $2.6M. The price is a 56% discount to the last close of $0.016. Funds go to Presidio permitting, technical work and working capital.

capital raising announcement

Helios raises $691,325 through interest-free convertible notes, converting at $0.005 a share, to fund Presidio licence renewal work and working capital. Directors Kin and Lochtenberg take $75,000; their notes are repayable in cash unless shareholders approve conversion. Repays the December director and staff loans.

capital raising announcement

An independent report by Foundation Energy books first Presidio contingent resources, Lower Ojinaga only. Net (75% NRI): oil 5-8 million barrels, NGL 2-4 million, gas 36-57 Bcf, about 13.3-21.7 MMBOE. Classified development on hold; completes the resource report funded in December.

resource reserve update

Helios secures $150,000 of unsecured short-term loans from directors, staff and broker Gleneagle, at 12% interest, to fund a resource report. The A$500,000 Gleneagle facility remains undrawn and is extended to 12 months. First funding source announced since the cash questions arose.

debt financing

Philipp Kin joins the board as Managing Director from 15 November 2024, filling the role vacant since Richard He retired in April. Pay is $25,000 a month for an initial 18 months, plus 57 million options at $0.02 to $0.04, subject to shareholder approval.

director officer appointment

June quarter report shows Presidio acreage down to 8,670 gross acres (6,069 net) from 17,850. Helios began an active campaign to find a farm-in partner for Presidio. It also cites a roughly 2,000 ft oil and gas column across the project.

quarterly activities report

Chairman Hui Ye will retire as chair and director effective 30 June 2024. Along with the earlier exits of Richard He and Robert Bearden, this leaves Lochtenberg and Kenny as the remaining non-executive directors named. No successor chair is named.

director officer appointment

Presidio 52#1 workover is complete, finished under budget, and the well restarted at 839 mcf a day of wet gas while unloading water. Bottom-hole pressure rose almost 300%. Helios expects output to improve once water subsides. This follows the earlier impairment.

production update

Helios signed a six-month gas sales agreement with Macaw Energies, a Golar LNG subsidiary, to install a modular LNG unit at Presidio and buy gas that would otherwise be flared. Macaw keeps the LNG and splits natural gas liquids profits with Helios. This starts the gas commercialization pilot flagged earlier.

material agreement

Managing Director Richard He has retired from the role and the board. The final interest notice is filed under the name Ping He, showing indirect holdings of about 239 million shares and a 3.15% to 6.3% working interest in Presidio. No successor is named.

director officer appointment

September quarter report: Presidio 52#1 production from its two most productive lower zones has become impaired, and wet gas has fallen to 500 mcf a day. A workover is planned. This reverses the earlier May gain of 1.2 million cubic feet a day.

quarterly activities report

Presidio 52#1 is now producing over 100 barrels of oil a day, with an oil cut above 10% and gas at 1.2 million cubic feet a day. Oil output has risen from 70-80 barrels a day in February as frack water unloads.

flow test result

Presidio 52#1 is producing 70-80 barrels of oil and about 700,000 cubic feet of gas a day after 10 days of flowback. Only 42,000 of 115,000 barrels of frack water are recovered. This is the first post-frack rate, but the well is still mainly flowing back frack water.

flow test result

The 4-stage frack across 1,623 ft of Presidio 52#1 was completed and flowback has begun, initially recovering frack fluid. The stages are co-mingled. No oil or gas rates yet, so the completion result is still pending.

well test result

Workover tests flowed gas and oil naturally. Presidio 52#1 lower Boquillas (20 ft perforated) flowed at modest rates unfracked, despite low permeability. Quinn Creek 141#1 flowed wet gas above an estimated 1,000 mcf/d, unmetered. Presidio 141#2 gave 626 mcf/d and 74 bbl oil in 24 hours; both wells were shut in pending artificial lift.

well test result

Presidio 52#1 reached TD of 8,806 ft, short of the 9,800 ft planned, with strong oil and gas shows in the Ojinaga and Eagle Ford. The deeper Buda and most Georgetown showed very low porosity. A completion program is being designed; no flow test yet.

drilling result

Helios signed a second China helium joint venture, with Shanxi Wanshengyuan, building extraction modules for about US$9.5M for 50% of profits. It targets about 500,000 Nm3/yr, five times the first Ordos JV, with first output scheduled March 2023.

joint venture update

Drilling of Presidio 52#1, the 4th well in the Presidio project, began on 4 April 2022, targeting the Ojinaga Formation with deeper Buda, Georgetown and Edwards limestones; planned TD 9,800 ft. Follows the seismic program and slips from the earlier schedule only slightly.

drilling spud

The 240M performance rights were cancelled because the milestone was not met. That milestone was 1,200 boe/d net from Presidio by 31 December 2021, so the target was missed. Also lapsed: 8,064,805 options at 10c and 10,000,000 at 15c.

security holder rights change

Helios agreed with Chevron to acquire new seismic over 20 square miles (12,800 acres) of Chevron's south-west Presidio County acreage, at Helios's cost, sharing the data with Chevron. The 11-mile 2D seismic for the 4th well should finish by January 2022, with drilling in early 2022.

material agreement

Helios starts a helium business in China, a new direction beyond Texas oil. It signed a joint venture with Ordos Xingxing Energy to extract helium from LNG boil-off gas, building a plant for about US$3.0M. Targeted output is 100,000 Nm³ a year, about US$3.1M of annual sales.

joint venture update

Helios plans to spud and complete a 4th Presidio well by 31 December 2021, targeting an interpreted 1,200-acre Buda trap, with Ojinaga at 7,000 ft and planned total depth 9,000 ft. A 4 sq mile 3D seismic survey has begun. Pressure testing on 141#2 'will cease very shortly'.

drilling scheduled

Helios raised $4.86M via a placement of 32,416,668 shares at 15 cents, jointly managed by CPS Capital and Gleneagle. Funds go to working capital and more Presidio leases. This follows the 12c raise in February, at a higher price.

capital raising announcement

Helios raised $11.44M through a placement of 95,333,333 shares at 12 cents to sophisticated investors. Funds go to working capital and more Presidio leases. This addresses the thin cash position of $1.611M at December.

capital raising announcement

Helios says the low oil price means it will materially cut spending on new leases and has curtailed additional Presidio wells planned for late 2020. Well 141#2 remains on natural flow. This is a slowdown in the drilling program.

regulatory community update

Helios raised $5,212,800 through a placement of 27,435,789 shares at 19 cents, to sophisticated investors, for working capital. Settlement is due 2 December 2019. Follows the 13.1c placement a year earlier, at a higher price.

capital raising announcement

Helios bought a 70% working interest in a further 15,556 gross acres in the Presidio project. On completion of the third well it will hold 70% of 84,952 gross acres (59,466 net), up from 69,396 gross.

asset acquisition disposition

Presidio 141#2 produced its first oil after a week of flowback: about 72 barrels of oil and 396 mcf of gas per day, with about 8% of frack fluid recovered. Rates are rising. Compares with 260 barrels in 7 days from the single-stage Quinn Creek 141.

flow test result

The 1,400 ft horizontal leg of Presidio 141#2 was drilled with continuous good to excellent oil shows, and the well was cased to a total depth of 5,846 ft. Fracking was expected to start in July 2019.

drilling result

Drilling began on Presidio 141#2, the third and final well Helios must drill to earn 70% of the initial 6,400 acres, ahead of the 30 June 2019 deadline. It sits 2,300 ft east of the Quinn Creek 141 discovery, planned 5,900 ft with a 1,400 ft horizontal leg.

drilling spud

Deadline to drill the third Presidio well, needed to earn 70% of the initial 6,400 acres, is extended again, from 31 December 2018 to 30 June 2019. Helios expects the well to spud in April 2019. Acreage unchanged at 66,776 gross.

farm in farm out completion

Helios raised $10.1M through a placement of 77,099,237 shares at 13.1c to professional investors. Funds go to leasing, 2D seismic, the third Presidio well and working capital. Brokers get 350,000 shares and 10M options at 15c expiring 31 December 2021.

capital raising announcement

The deadline to drill the third Presidio well, needed to earn 70% of the initial 6,400 acres, is extended to 31 December 2018 (from 30 September). Helios will shoot 39 more miles of 2D seismic for US$600,000 before drilling it.

farm in farm out completion

Helios declares a new oil discovery in the Ojinaga Shale at Quinn Creek 141, citing 260 barrels of 39 API oil in 7 days from one frack. Middle bench oil was recovered but a frack is deferred to focus on the lower bench.

drilling result

ASX paused trading in Helios shares pending a further announcement. No reason is given in the notice.

listing compliance notice

Quinn Creek 141 flowed 260 barrels of oil (39 degrees API) and 1,345 barrels of fluid over 7 days, with about 35% of frack fluid recovered. Helios moves up hole to test two more intervals at 4,240-4,310 ft and 3,400-3,600 ft.

flow test result

After the frack, Quinn Creek 141 is flowing oil and gas to surface: 85 barrels of oil and 205 barrels of completion fluid in 24 hours, plus 456 mcf per day of gas. Only about 28% of frack fluid is recovered, so testing is early.

flow test result

Oil and gas flowed to surface from all 6 further Austin Chalk equivalent intervals tested in Quinn Creek 141 (4,744-4,944 ft). Helios will do a one-stage frack of about 200 feet within 30 days.

well test result

Helios completed the issue of 79,263,712 shares at 6.4 cents to Notable Pioneer, raising $5,072,877, after shareholder approval on 29 March 2018. This was slightly below the $5,194,805 first flagged. The 10 million broker options at 10 cents were also issued, as unlisted options.

capital raising announcement

The squeeze job on Quinn Mesa 113 failed to stop water inflow, so the main San Carlos zone could not be validly tested. Testing is suspended pending review and seismic interpretation due by 28 February; the board still sees potential.

well test result

Helios raises $8.5M via 132,812,500 shares at 6.4 cents. Notable Pioneer's $5.19M share is conditional on shareholder approval; Zhiqiang Shan adds $1M. Funds go to more Presidio leasing and working capital; brokers get 10M options at 10c.

capital raising announcement

Testing of Quinn Mesa 113 has begun and will take 3 weeks. The deadline for the third Presidio well, due 31 December 2017 to earn 70%, is extended to 30 April 2018, with drilling planned for March. Helios now holds 70% in a further 26,096 acres.

drilling progress report

Hui Ye appointed director and elected Chairman, filling the vacancy left by Tony Brennan's 31 October resignation. Through Notable Pioneer, the largest shareholder (about 31%), he holds a 50% interest in 394,734,485 shares and 131,578,162 options.

director officer appointment

Richard He appointed Managing Director, based in Houston, on US$20,000 a month for two years. He was part of the joint venture that sold the Halliday field to Halcon for US$520m. He is linked to PAA Energy, a 5.85% shareholder, and holds Presidio interests.

director officer appointment

The capital raising closed at a total of $18,011,858, just under the $18.88M maximum, and all ASX reinstatement conditions are met. Trading resumes 11 August 2017, ending the suspension since October 2015.

capital raising announcement

Shares reinstated to ASX trading from 11 August 2017 under code HE8, ending the suspension that began 13 October 2015. Quoted: 1,018,592,963 shares and 300,197,878 options at 2c expiring 31 December 2021.

other

Quinn Mesa 113 reached 4,000 feet with oil and gas shows from 2,400 feet; logs show zones worth testing. The well is cased and the rig released, with testing at a date to be set. Two of three Presidio wells are now drilled.

drilling result

Federal Court extends the quotation deadline to 19 July 2017 and confirms the securities issued under the prospectus, subject to quotation by then. Resolves the June risk over the issued shares, but reinstatement is still pending.

listing compliance notice

Quinn Creek 141 hit oil and gas shows between 3,000 and 4,500 feet, and oil to surface, but the Edwards Limestone is deeper than expected. The well is suspended awaiting completion. Second well Quinn Mesa 113 spudded 16 June, at 2,747 feet.

drilling result

ASIC says the company cannot rely on the 15 May refresh relief because securities were already issued. The company applied to the Federal Court on 16 June for more time to get quoted, putting the issued securities at risk.

listing compliance notice

Quinn Creek 141, the first Presidio well, spudded 23 April 2017, targeting 6,000 feet over about 10 days. It is the first of three wells needed to earn the 70% working interest.

drilling spud

March 2017 quarter: on 7 April the Trinity and Presidio acquisitions completed and A$13M was raised under the partly underwritten rights issue. Cash was $206K at quarter end (down from $471K); the company is now placing the shortfall and meeting ASX reinstatement conditions.

quarterly activities report

Supplementary prospectus: CPS Capital partially underwrites the rights issue for $13M (650M shares) for a $780K fee. Vendor agreements also varied on board composition and the date of the first Presidio well.

capital raising announcement

Re-compliance prospectus: 8 new shares per share held at 2c to raise up to $18.88M, with a free option per three shares (2c, expiring December 2021). Company to be renamed Helios Energy (code HE8). Reinstatement expected 3 April 2017.

capital raising announcement

Signs conditional deals for two Texas oil projects: 100% of 3,118 net acres (Trinity) and a drill-to-earn 70% of 6,280 net acres (Presidio). Price is US$1.45M cash plus 240M post-consolidation shares and performance rights. Funded by a rights issue of up to A$18.88M at 2c, minimum A$12M. Ends the search for a project.

asset acquisition disposition

ASX suspended the company's shares from 13 October 2015 under Listing Rule 17.3. They stay suspended until it shows compliance with Chapter 12. This follows months of searching for a new project with no deal, after Kinney was handed back.

listing compliance notice

After talks with Carbon Resources to vary the APA failed, the company will hand Kinney back to the vendor instead of paying US$1M. It keeps no interest and no ongoing commitments. This ends the project that was the company's focus; the board will now look at new projects.

asset acquisition disposition

The entitlement offer completed: 118,000,000 shares issued at 1 cent, raising $1.18M before costs. This doubles the share count. Funds go to working capital, the strategic review and new opportunities, including outside mining.

capital raising announcement

The company starts a strategic review of Kinney, including a possible sale of part or all of it, and will consider new projects in any sector. Tony Brennan becomes Chairman. A 1-for-1 entitlement offer at 1 cent raises $1.18M, underwritten by CPS Capital. A director loan of up to A$100,000 funds operations.

capital raising announcement

Kinney purchase agreement renegotiated: total price cut from US$25M to US$16M and outstanding payments from US$15M to US$6M, paid in US$1M instalments from November 2014. If the notes aren't repaid, the project goes back to the vendor. Long Canyon sale now expected mid-2014.

material agreement

A study by John T Boyd cuts Kinney start-up capital from US$63M to US$23M (a US$40M saving) by starting with one mining section, used equipment and existing rail loadout. This follows the April review; full build still said to reach 2 Mtpa. BFS due late 2013.

other

Denver investment bank Headwaters MB engaged to advise on financing the Kinney project and to explore debt, equity, joint venture and merger options. A financing plan is promised within weeks. This is an advisory mandate, not funding secured.

material agreement

Placement of 21.625M shares at 8 cents to raise $1.73M, well below the 22 cent 2011 raise. Tranche 1 (17.875M shares, $1.43M) issues now; tranche 2 (3.75M shares, $300K) needs shareholder approval for director participation, with a meeting proposed for March 2013.

capital raising announcement

Letter of intent signed with Texas Deepwater Industrial Port for an initial 1.5 Mtpa export allocation, expandable to 3 Mtpa. Framework agreement is due by end of March 2013. Port exports are due to start by Q4 2014. This is an LOI, not a binding deal.

material agreement

Pre-feasibility study is positive: 16-year mine life at 2.3 Mtpa, US$63M to start production plus US$53M to reach full output, cash costs US$32/t, EBITDA US$45.9M a year. Resource now 110.5Mt. Bankable feasibility study to start in 2013.

resource reserve update

Kinney JORC resource upgraded 97% to 51.6Mt from 26.1Mt, with 87% (44.8Mt) Measured and Indicated. Follows the 2012 drilling and wider land area. Pre-feasibility study now due November 2012; port allocation deal targeted by end of 2012.

resource reserve update

Kinney drilling finished ahead of schedule and under budget: eight holes, over 2,000 m, about 250 m of core. All holes hit the seams at expected elevation. Company still expects an upgrade to the 26.1Mt resource; Phase I of the feasibility study is due early Q4 2012.

drilling result

Maiden JORC resource at Kinney of 26.1Mt, 92% Measured and Indicated (12.3Mt Measured, 11.6Mt Indicated, 2.2Mt Inferred). Delivers the Q1 2012 report flagged earlier, within two months of acquisition. First stage of bankable feasibility study to start this quarter.

resource reserve update

ASX confirms trading resumes on 7 December 2011 after re-compliance, with 66.95 million shares and 73 million options quoted. The company is renamed New Horizon Coal on 9 December, with activity listed as coal exploration. Some shares and securities are escrowed.

listing compliance notice

Kinney acquisition completed: Delta Coal shareholders received 10M shares and 30M performance shares. Delta Coal paid Carbon Resources an initial US$6.5M (US$7M with the transferred option fee) for 100% of the Kinney project. This resolves the pending deal.

asset acquisition disposition

Offer closed with applications for 52.5 million shares at 22 cents with a free option, raising $11.55M, within the $11-16.5M range. Allotment is on 23 November. The Kinney asset purchase is still targeted to close by 1 December 2011.

capital raising announcement

Re-compliance prospectus offering up to 75 million shares at 22 cents with a free option at 20 cents, raising up to $16.5M. It is conditional on shareholders approving the Kinney acquisition at the 9 November 2011 meeting. Shares stay suspended until ASX approves re-listing.

capital raising announcement

Agrees to buy Delta Coal Fund, which is acquiring the Kinney #2 thermal coal project in Utah (exploration target 20-25 million tonnes), paid in cash and shares. A placement of $10-15 million at a minimum of $0.20 a share is planned. This is a shift from NSW exploration.

asset acquisition disposition

New Horizon Minerals offers 10,000,000 shares at $0.20 to raise $2,000,000 in an IPO prospectus. It holds a 20% interest in the Mount Drysdale and Hora Bore projects in NSW, with rights to earn 80% by spending $1,000,000 over three years.

capital raising announcement