Past year: ▼ 82%(0.20c – 1.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Jan 2025resource reserve update▲ GoodMajor
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.
6 Jan 2023drilling scheduled● Neutral
The Presidio 52#1 four-stage frack across 1,623 ft is expected to start 10 January 2023, subject to the frack crew finishing a prior job on schedule. It will use 120,000 bbl of water and 3,000,000 lb of sand. This follows the weather delays from September.
12 Sept 2022drilling progress report▼ Bad
Helios will complete Presidio 52#1 with a 4-stage vertical frack over 1,623 ft, co-mingling production. The August start slipped because of heavy rain and a shortage of frack crews; no new date given.
28 June 2022drilling result● NeutralMajor
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.
6 June 2022drilling progress report▲ Good
Presidio 52#1 was cased to 8,255 ft after very good to excellent oil and gas shows through the Ojinaga (793 ft thick) and Eagle Ford (849 ft). 30 sidewall cores had live oil. Drilling into the Buda and Georgetown is due within 3 days.
4 Apr 2022drilling spud▲ GoodMajor
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.
7 Sept 2021drilling scheduled▲ GoodMajor
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'.
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.
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.
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.
31 Dec 2018farm in farm out completion● NeutralMajor
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.
28 Sept 2018farm in farm out completion● NeutralMajor
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.
27 Aug 2018drilling result▲ GoodMajor
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.
29 June 2018farm in farm out completion● Neutral
The deadline to drill the third Presidio well, needed to earn 70% of the initial 6,400 acres, is extended again from 30 June to 30 September 2018. Total acreage under contract is unchanged at 66,776 acres (46,743 net).
21 June 2018drilling scheduled● Neutral
The Quinn Creek 141 frack is set for 26 June 2018 at 4,744-4,880 ft, using 200,000 pounds of proppant and 10,000 barrels of fluid.
12 Apr 2018drilling progress report● Neutral
Testing of Quinn Creek 141 has started and will take at least 3 weeks. The deadline to drill the third Presidio well, needed to earn 70%, is extended from 30 April to 30 June 2018.
28 Mar 2018drilling scheduled● Neutral
Testing of Quinn Creek 141 is delayed; it should now start within 7-10 days because the contracted rig was busy longer than planned. The additional 13 miles of 2D seismic is shot, processing due mid-April, and will decide the third well location.
8 Mar 2018drilling scheduled▲ Good
Testing of Quinn Creek 141 is set to start 15 March 2018, taking at least 3 weeks. It targets the Buda and Eagle Ford, then a 250-foot Austin Chalk equivalent zone, following the oil flow at Quinn Mesa 113. Oil seen is 33 degrees API.
15 Jan 2018drilling progress report▼ Bad
Testing of Quinn Mesa 113's main San Carlos Sandstone zone recovered only low-salinity water, which Helios thinks is leaking from a shallower formation behind the casing. A one-week cement 'squeeze job' is planned to fix it; testing was delayed by weather.
19 Dec 2017drilling progress report▲ GoodMajor
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.
4 Dec 2017drilling scheduled● Neutral
Helios starts a 3D and 2D seismic programme over its two Presidio wells, to be shot in late December, with interpretation due by 28 February 2018. Perforating and testing of Quinn Mesa 113 follows in late December, then Quinn Creek 141.
4 July 2017drilling result▲ GoodMajor
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.
27 June 2017drilling result▲ GoodMajor
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.
26 Apr 2017drilling spud● NeutralMajor
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.
24 Nov 2014resource reserve update● Neutral
Addendum to the annual report restating the Kinney resource of about 110.6Mt, made up of 54.7Mt at Long Canyon and 55.8Mt at the LBA. The resource was not updated to JORC 2012, and the addendum repeats the risk of losing the project if APA payments aren't made.
29 Nov 2012resource reserve update▲ GoodMajor
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.
18 Oct 2012resource reserve update● Neutral
Breakdown of the 51.6Mt Kinney resource: 11.3Mt Measured, 33.5Mt Indicated, 6.8Mt Inferred. Measured tonnage falls 1.0Mt from the original 12.3Mt, while Indicated nearly triples from 11.6Mt. Clarifies the 16 October headline.
