18 June 2021other● Neutral
Routine notice that 1,168,392 listed options were converted into ordinary shares (issued 16 June 2021), with the standard cleansing statement. No new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 June 2021other● Neutral
Routine notice that 500,000 listed options were converted into ordinary shares (issued 11 June 2021), with the standard cleansing statement. No new information.
30 Apr 2021quarterly activities report● Neutral
March 2021 quarterly report: the $11.44M placement (95,333,357 shares at 12c) is completed, with proceeds for working capital and more Presidio leases. Presidio 141#2 is still in pressure build-up testing, and the 70% interest is still stated as arising 'upon completion'.
30 Apr 2021quarterly activities report▲ Good
March 2021 quarter cash statement: cash rose to $11.689M from $1.611M after the $11.44M placement, with an $863K operating outflow. No debt. Funding is shown as 13.5 quarters at the current rate of spending.
23 Mar 2021regulatory community update▲ Good
The Supreme Court of Western Australia granted orders on 22 March covering the missed cleansing notice for the March 2021 placement shares and earlier share issues, declaring sales of those shares not invalid. This resolves the placement's compliance defect.
23 Mar 2021listing compliance notice● Neutral
ASX lifted the suspension immediately after Helios announced the Supreme Court orders. This resolves the 18 March voluntary suspension.
18 Mar 2021listing compliance notice▼ Bad
At Helios's request, shares were suspended pending a possible Federal Court application over a missed cleansing notice for the 95,333,357 shares issued on 4 March 2021. Suspension runs until the application is decided or 23 March.
16 Mar 2021other● Neutral
ASX paused trading in Helios pending a further announcement. No reason is given in the notice.
16 Mar 2021half year report● Neutral
Half-year report to 31 December 2020. The directors' report repeats the Presidio narrative: 141#2 still in pressure build-up testing, leasing cut due to low oil price, and the 70% interest still stated as arising on completion of that well.
24 Feb 2021capital raising announcement▲ GoodMajor
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.
What it means for a shareholder
95.3m new shares at A$0.120 to raise about A$11.4m. That's 5.8% dilution: every existing holder's slice gets 5.8% smaller. If you held A$1,000 of shares (8,333 at the issue price), your slice goes from 0.000538% to 0.000507% of the company. To keep it you'd need 513 more shares - about A$62 at the issue price.
Create a free account to see this worked out for your own holding.
22 Feb 2021investor presentation● Neutral
Company presentation repeating known project facts. Capital structure shows 1,547,968,919 shares, 927M listed options, 240M performance rights and cash of $1.611M at 31 December 2020, with no debt. No new results.
2 Feb 2021listing compliance notice● Neutral
ASX lifted the suspension immediately after Helios lodged its December 2020 quarterly report. This resolves the 1 February late-report suspension.
1 Feb 2021listing compliance notice▼ Bad
ASX suspended Helios from 1 February 2021 for failing to lodge its quarterly report by the due date. This is the second such late-report suspension, after November 2019.
1 Feb 2021quarterly activities report● Neutral
Re-lodged December 2020 quarter cash statement: cash $1.611M, operating outflow $658K, no debt, 2.4 quarters of funding. The re-lodged version now shows $98K of related-party payments, which the earlier copy left blank.
1 Feb 2021quarterly activities report● Neutral
December quarter report: pressure build-up testing on Presidio 141#2 continued, with artificial lift still to follow. A first-quarter 2021 well is postponed and leasing cut because of the low oil price. The 70% interest remains 'upon completion' wording.
29 Jan 2021quarterly activities report● Neutral
December 2020 quarter cash statement: cash fell to $1.611M from $2.240M, with a $658K operating outflow and $112K of option exercise proceeds. No debt. Funding is shown as 2.4 quarters at the current rate of spending.
8 Dec 2020agm notice● Neutral
All seven resolutions at the 2020 AGM were approved, including the remuneration report, re-election of Robert Bearden and the 7.1A placement mandate. Administrative outcome with no operational change.
3 Nov 2020annual report● Neutral
Print copy of the 30 June 2020 annual report already lodged on 1 October. Presidio is the principal activity; the 70% interest in 85,685 gross acres still arises 'upon completion' of the 141#2 well, which remains on natural flow awaiting artificial lift.
2 Nov 2020quarterly activities report● Neutral
September quarter report: another pressure build-up test has begun on Presidio 141#2, with natural flow to resume afterwards and artificial lift still to follow. Leasing cuts and postponement of additional 2020 wells continue because of the low oil price.
30 Oct 2020quarterly activities report● Neutral
September 2020 quarter cash statement: cash fell to $2.240M from $3.049M, with an $835K operating outflow. No debt. Funding is shown as 2.6 quarters at the current rate of spending.
1 Oct 2020annual report● Neutral
Annual report to 30 June 2020 describes Presidio as the principal activity. The 70% interest in 85,685 gross acres is still stated as arising 'upon completion' of the third well. Well 141#2 is on natural flow awaiting artificial lift.
1 Oct 2020annual report● Neutral
Appendix 4G corporate governance checklist lodged with the annual report; the governance statement is at pages 45-51. Administrative, with no operational substance.
3 Aug 2020quarterly activities report● Neutral
June quarter report: a further pressure build-up test was run on Presidio 141#2, which then returned to natural flow; artificial lift is still pending. Leasing was cut and additional 2020 wells deferred due to the low oil price, as already flagged in May.
31 July 2020quarterly activities report● Neutral
June 2020 quarter cash statement: cash fell to $3.049M from $3.743M, with a $472K operating outflow and $288K investing outflow. No debt. Funding is shown as 4.0 quarters.
15 May 2020regulatory community update▼ BadMajor
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.
1 May 2020quarterly activities report● Neutral
March quarter report: Presidio 141#2 still on natural flow, with 4,202 barrels of oil produced and 62% of frack fluid recovered. Artificial lift still to come. Core permeability up to 60 µd is repeated. Little new beyond the 24 March update.
30 Apr 2020quarterly activities report● Neutral
March 2020 quarter cash statement: cash fell to $3.743M from $5.211M, with operating outflow of $759K and investing outflow of $862K. No debt. Funding is shown as 2.3 quarters at the current rate of spending.
24 Mar 2020listing compliance notice● Neutral
ASX lifted the trading suspension immediately after Helios released its operations and production update. This resolves the 23 March voluntary suspension.
24 Mar 2020well test result● Neutral
Presidio 141#2 is still flowing naturally, with 4,092 barrels of oil and 42,800 mcf of gas produced; 60% of frack fluid recovered. It still needs artificial lift for commercial oil. Play area is now said to be about 300,000 acres, up 50%.
23 Mar 2020other● Neutral
At Helios's request, shares were suspended pending an operations and production update. Helios asked for the suspension to end by trading on 24 March 2020 or when the announcement is released. Content of the update is not yet known.