19 Mar 2020price query● Neutral
ASX paused trading in Helios shares pending a further announcement. No reason is given in the notice.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Mar 2020half year report● Neutral
Half-year report to 31 December 2019 describes Presidio as the company's principal activity and repeats the Presidio 141#2 results. On completing the third well Helios expects 70% of 85,685 gross acres (59,980 net). Trinity is not mentioned in the visible text.
3 Feb 2020quarterly activities report● Neutral
December quarter report: the pressure test has ended and Presidio 141#2 resumed flowing naturally. Oil produced to date is 3,574 barrels, with 43% of frack fluid still to recover. Pumping will follow once natural flow stops.
31 Jan 2020quarterly activities report● Neutral
December 2019 quarter cash statement: cash was $5.211M, from $4.264M, with a $3.132M operating outflow offset by $5.241M of share proceeds. No debt. Presidio acreage is shown at 85,685 acres. Estimated next-quarter outflow is $2.0M.
20 Dec 2019well test result● Neutral
Presidio 141#2 has produced 3,574 barrels of oil and recovered 57% of frack fluid. It was shut in for a pressure build-up test until early January 2020, after which it should flow naturally before being put on artificial lift.
27 Nov 2019capital raising announcement▲ GoodMajor
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.
What it means for a shareholder
27.4m new shares at A$0.190 to raise about A$5.2m. That's 1.8% dilution: every existing holder's slice gets 1.8% smaller. If you held A$1,000 of shares (5,263 at the issue price), your slice goes from 0.00035% to 0.000344% of the company. To keep it you'd need 96 more shares - about A$18 at the issue price.
Create a free account to see this worked out for your own holding.
26 Nov 2019agm notice● Neutral
All AGM resolutions passed, including the remuneration report and re-election of Hui Ye. The 10% placement capacity resolution was withdrawn because market capitalisation was above $300M.
1 Nov 2019listing compliance notice● Neutral
ASX will lift the suspension from 4 November 2019 after Helios lodged its quarterly activities report. This resolves the 1 November suspension.
1 Nov 2019quarterly activities report● Neutral
September quarter report, lodged late: after 77 days of flowback Presidio 141#2 has produced 3,424 barrels of oil and 32,204 mcf of gas, with 29,737 barrels of frack fluid still to recover. Tubing is installed; a pump is needed for commercial production.
1 Nov 2019listing compliance notice▼ Bad
ASX suspended Helios shares from 1 November 2019 for failing to lodge its periodic report by the due date. This was a lodgement lapse rather than an operational event.
31 Oct 2019quarterly activities report▼ Bad
September 2019 quarter cash statement: cash fell to $4.264M from $8.393M after a $4.202M operating outflow. No debt. Estimated next-quarter outflow is $3.0M. Presidio acreage still shown at 69,396 acres.
25 Oct 2019annual report● Neutral
Print copy of the 2019 annual report already lodged on 27 September; the visible text repeats the same Presidio content and directors. No new information in the extract.
16 Oct 2019asset acquisition disposition▲ GoodMajor
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.
27 Sept 2019other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report; the governance statement is on pages 45-51. Administrative filing with no new operational or financial information.
27 Sept 2019annual report● Neutral
Annual report for year to 30 June 2019. Describes Presidio 141#2 (5,846 ft, 1,400 ft horizontal) and 70% WI in 69,396 gross acres on completion of the third well. Completion of the well is now anticipated in November 2019.
4 Sept 2019flow test result● Neutral
Over the past week Presidio 141#2 averaged about 117 barrels of oil and 621 mcf of gas per day, down from 146 barrels earlier. About 30% of frack fluid recovered. Helios says the well needs a pump for commercial production.
26 Aug 2019flow test result▲ Good
Presidio 141#2 rates rose: about 146 barrels of oil per day and 566 mcf of gas per day, with 20.7% of frack fluid recovered. Up from 72 barrels per day six days earlier as the well cleans up.
20 Aug 2019flow test result▲ GoodMajor
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.
15 Aug 2019drilling progress report● Neutral
The 7-stage frack of Presidio 141#2 is complete, injecting about 3.313M lb of proppant (2,366 lb per lateral foot) and 64,000 barrels of fluid. The well is flowing back; no oil rates yet.
12 Aug 2019drilling progress report● Neutral
Frack of the 1,400 ft horizontal in Presidio 141#2 has started: 7 stages of about 200 ft, around 2,000 lb of proppant per foot. Flowback is expected from 13 August. This follows the delay from July and is the first multi-stage frack in the project.
9 Aug 2019security holder rights change● Neutral
Escrow release on 11 August 2019 for 265M shares, 655M options (expiring 31 December 2021) and 240M performance rights. Administrative notice; the performance rights still carry their vesting conditions per earlier disclosure.
31 July 2019quarterly activities report● Neutral
June 2019 quarter cash statement: cash fell to $8.393M from $13.84M after a $5.022M operating outflow and $0.465M of investing outflow. No debt. Presidio acreage is now 69,396 acres, with the option acreage no longer listed.
31 July 2019quarterly activities report● Neutral
June 2019 quarter report: the Presidio 141#2 horizontal is drilled and cased, and fracking has slipped from July to early August 2019. Otherwise restates earlier results. No new well results.
17 May 2019drilling result▲ GoodMajor
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.
30 Apr 2019quarterly activities report● Neutral
March 2019 quarter report restates the Quinn Creek 141 Ojinaga oil discovery (260 barrels in 7 days) and the 88-mile seismic programme showing a thick Ojinaga across 68,985 gross acres. No new results visible in the extract.
30 Apr 2019quarterly activities report● Neutral
March 2019 quarter cash statement: cash rose to $13.84M from $7.321M, helped by $10.1M of share proceeds and a $2.876M operating outflow. No debt. Presidio acreage rose to 41,425 acres plus 27,560 under option; next-quarter outflow estimate is $4.0M.
26 Apr 2019drilling progress report▲ Good
Presidio 141#2 vertical section reached 5,074 ft; logs show a 220 ft highly fractured target zone with continuous oil shows in the lower Ojinaga. The 1,400 ft horizontal leg is now being drilled; frack design to follow. No flow result yet.
8 Apr 2019drilling spud▲ GoodMajor
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.
28 Mar 2019drilling scheduled▲ Good
An 88-mile 2D seismic programme (14 new miles, 74 reprocessed) shows a thick Ojinaga Formation, 1,000 to 2,000 feet, across Helios' now 68,985 gross acres. Third well still planned to spud in April 2019.
14 Mar 2019half year report● Neutral
Half-year report to 31 December 2018. The visible directors' report restates the Ojinaga discovery and the 30 June 2019 deadline for the third Presidio well. Financial statements are not visible in the extract.