Helios Energy

Helios Energy was incorporated in 2010, then known as New Horizon Coal and focused on a coal project in Utah. In 2017, it rebranded to Helios and bought two oil projects in Texas, one of which was Presidio. These were introduced by oil industry veterans Neville Henry and Peter Allchurch. Between 2017 and 2022, Helios invested A$40m in exploration and this has led to an extensive resource – 17.5MMboe with a 2C level of confidence. The first well (Quinn Creek 141) was spudded in 2017 and work continued over 4 years. It encountered live oil and gas shows from 3,000 to 5,000 feet through a thickened Austin Chalk age sequence of fractured shales and carbonates. In one particular week in 2018, it flowed 260 barrels of oil and 1,345 barrels of completion fluid in 168 hours. The second, Quinn Mesa 113 was spudded in mid-2017 and found several oil and gas shows. The third, Presidio 141#2 spudded in 2019 and produced into 2020 after a pressure build up test. The fourth, Presidio 5201, was spudded in April 2022 and it also had oil and gas shows. 2024 was a key year. The company overhauled its management, released its first 2C Resource and engaged a Houston petroleum engineering firm (WDVG) to assist the forward development strategy.