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helios energy ltd (HE8) Details

Helios Energy Limited engages in the exploration and development of oil and gas properties in Australia and the United States. It holds 100% working interest (WI) in the Trinity Oil project covering 3,118 net acres, and 70% WI in the Presidio Oil project covering 46,743 net acres located in Texas, the United States. The company was formerly known as New Horizon Coal Limited and changed its name to Helios Energy Limited in April 2017. Helios Energy Limited is based in West Perth, Australia.

helios energy ltd (HE8) Top Compensated Officers

MD & Director
Total Annual Compensation: A$309.6K
Compensation as of Fiscal Year 2018.
helios energy ltd
Helios Energy Ltd Reports Third Well Progress Report

Helios Energy Ltd. reported the vertical portion of the Presidio 141#2 well has been drilled to a total depth of 5,074 feet ending at the base of the Eagle Ford Shale Formation. The well has been logged and in addition 50 rotary cores have been successfully extracted. The well has been plugged back and the 1,400 feet horizontal portion of the well is now being drilled into the primary target zone within the lower bench of the Ojinaga Formation. Excellent and continuous oil shows along with a high density of natural fractures were observed while drilling throughout the 220 feet thick primary target zone within the lower bench of the Ojinaga Formation. The Presidio 141#2 well is located 2,300 feet to the east of the existing Quinn Creek 141 discovery well. The total measured depth of the well is anticipated to be 5,850 feet and this includes a 1,400 feet horizontal portion drilled into the primary target zone within the lower bench of the Ojinaga Formation. The well is located structurally updip of the existing Quinn Creek 141 discovery well and the vertical portion was drilled through the entire San Carlos, Ojinaga and Eagle Ford Shale Formations. The vertical portion of the well ceased at the bottom of the Eagle Ford Shale Formation. San Carlos Formation: Wireline logs and drilling cuttings indicate that the San Carlos Formation is approximately 671 feet thick. Very good oil and gas shows were observed in an upper sand unit of the San Carlos Formation which contained 55 feet of net sand with 18% to 23% porosity. A lower interval of the San Carlos Formation had 65 feet of net sand with 10% to 15% porosity with fair oil shows. Ojinaga Formation: Wireline logs and drilling cuttings indicate that the Ojinaga Formation is approximately 1,941 feet thick, with a thickened upper Ojinaga interval of approximately 1,018 feet. The upper Ojinaga Formation contained a sandstone interval of approximately 60 feet with 18% to 20% porosity with fair to moderate oil shows. The middle bench of the Ojinaga Formation is approximately 564 feet thick. During drilling oil and gas shows increased from fair to moderate to good and then to excellent with accompanying oil fluorescence, oil cut and residual fluorescence. Analysis of wet gas ratios indicate light oil. Wireline logs and drilling cuttings indicate that the lower bench of the Ojinaga Formation is 359 feet thick and is highly naturally fractured. Good to excellent, continuous oil shows were observed throughout the entire drilling of this 359 feet thick interval. Eagle Ford Shale Formation: Wireline logs and drilling cuttings indicate that the Eagle Ford Shale Formation is approximately 590 feet thick. Fair to good oil shows were observed whilst drilling through two intervals of 190 feet and 70 feet. 220 Feet Thick Primary Target Zone within the Lower Bench of the Ojinaga Formation: Wireline logs and drilling cuttings indicate that the primary target zone within the lower bench of the Ojinaga Formation is approximately 220 feet thick. Excellent and continuous oil and gas shows were observed throughout the entire drilling of this 220 feet primary target zone. This primary target zone of 220 feet has uniform rock characteristics. It is predominantly black shale with micro laminations of siltstone and fine carbonates and is highly naturally fractured. Multi-Stage Fracking of the 1,400 Feet Horizontal Portion of the Presidio 141#2 well The vertical section of the Presidio 141#2 well has now been plugged back and a 1,400 feet lateral leg is being drilled to the west towards the Quinn Creek 141 discovery well entirely within the 220 feet zone of the best oil shows and higher natural fracturing that occurs within this 359 feet lower bench of the Ojinaga Formation. The horizontal portion of the well was steered based on 2D and 3D seismic data and the data from the 2 existing wells (Quinn Creek 141 and Quinn Mesa 113) drilled by Helios. After the Presidio 141#2 well has been cased (including the 1,400 feet lateral portion of the well), the Presidio 141#2 well will await a multi-stage fracking of the 1,400 feet lateral portion of the well. The final design of the multi-stage fracking program will be selected once the logs and rotary cores have been fully analyzed in conjunction with hydraulic fracturing stimulation experts over the next few weeks. Oil Discovery in the Ojinaga Shale Formation: Helios successfully completed a one stage frack in the vertical Quinn Creek 141 well to test oil shows and log indications between 4,744 and 4,880 feet in the lower Ojinaga Formation. The Company has previously reported to ASX that the Quinn Creek 141 well flowed 260 barrels of oil and 1,345 barrels of completion fluid in 168 hours (7 days). The oil produced is good quality, mature, 39 degrees API gravity light oil similar in composition to Eagle Ford oils. Gas was also produced at 456 mcf per day on a 34/64ths of one-inch choke. As the well cleaned up and the percentage of completion fluid recovery rose, a steadily increasing oil cut was observed. Total load recovery (until the lower interval was shut in) was approximately 35% (3,509 barrels of completion fluid out of 10,187 barrels of completion fluid injected). Easily Mapped with 2D & 3D Seismic: The lower bench of the Ojinaga Formation shows well on both 2D & 3D seismic and is easily mapped. Presidio Oil Project - Infrastructure Access to the Presidio 141#2 well location is provided by a 25 mile unsealed, formed road constructed by Helios that branches off the sealed US-90 highway which carries heavy truck and passenger vehicle traffic. The Presidio 141#2 well location has access to ample supplies of fresh water provided by local water wells drilled into shallow water aquifers. The El Paso Oil Refinery located in El Paso, Texas has a processing capacity of 135,000 barrels of oil per day and is located 170 miles from the Presidio Oil Project. Crude oil is sold there by truck delivery. The Presidio Oil Project is located 250 miles (or 5 hours by truck) from Midland, Texas which is the epicenter of the Permian Basin oil industry. All rigs, supplies and services required for the Presidio Oil Project are sourced from Midland, Texas. Oil production in the Permian Basin is approximately 3,800,000 bopd.

Helios Energy Ltd Commences Drilling of the Third Well into the Presidio Oil Project

Helios Energy Ltd. announced that drilling of the third well into the Presidio Oil Project has commenced. The Presidio 141#2 well is located 2,300 feet to the east of the existing Quinn Creek 141 discovery well. The proposed total measured depth of the well is 5,900 feet and this includes a planned 1,400 feet horizontal portion into the primary target interval being the lower Ojinaga Formation. The well is located 600 feet structurally updip of the existing Quinn Creek 141 discovery well and will firstly drill through the entire San Carlos, Ojinaga and Eagle Ford Shale Formations. The vertical portion of the well will cease at the bottom of the Eagle Ford Shale Formation. Logs will then be run and rotary cores extracted for analysis. After plugging off that part of the vertical well which penetrates through the Eagle Ford Shale Formation a 1,400 feet lateral leg will then be drilled to the west towards the Quinn Creek 141 discovery well entirely within the lower bench of the Ojinaga Formation. The horizontal portion of the well will be steered based on 2D and 3D seismic data and the data from the 2 existing wells (Quinn Creek 141 and Quinn Mesa 113) drilled by Helios. The well will then be cased it is planned to then perform a multi-stage fracture stimulation of the 1,400 feet lateral portion. Helios successfully completed a one stage frack in the vertical Quinn Creek 141 well to test oil shows and log indications between 4,744 and 4,880 feet in the lower Ojinaga Formation. The Company has previously reported to ASX that the Quinn Creek 141 well flowed 260 barrels of oil and 1,345 barrels of completion fluid in 168 hours (7 days). The oil produced is good quality, mature, 39 degrees API gravity light oil similar in composition to Eagle Ford oils. Gas was also produced at 456 mcf per day on a 34/64ths of one-inch choke. As the well cleaned up and the percentage of completion fluid recovery rose, a steadily increasing oil cut was observed. Total load recovery (until the lower interval was shut in) was approximately 35% (3,509 barrels of completion fluid out of 10,187 barrels of completion fluid injected). Formation micro-imaging (FMI) logs from the Quinn Creek 141 well indicate that the lower interval of the Ojinaga Formation in the Quinn Creek 141 well is highly naturally fractured.

Helios Energy Limited Reports Consolidated Earnings Results for the Half Year Ended December 31, 2018

Helios Energy Limited reported consolidated earnings results for the half year ended December 31, 2018. For the period, the company reported revenue from operations of AUD 21,609 against AUD 24,595 a year ago. Loss after income tax for the period was AUD 1,415,025 against AUD 1,715,636 a year ago. Basic and diluted loss per share was 0.101 cents against 0.098 cents a year ago.

 

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