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HELIOS ENERGY LTD - Discussion

Helios Energy Ltd is an Australia-based oil and gas exploration company. The Company’s... Helios Energy Ltd is an Australia-based oil and gas exploration company. The Company’s principal activity includes the exploration activities in Presidio Oil Project located in Presidio County, Texas, United States. The Company is organized into two segments, being oil and gas exploration in the USA and helium in China. The Presidio Oil & Gas Project is comprised of a large wet gas resource. The Company has a 70% working interest (WI) in a total of approximately 17,850 gross acres (12,495 net acres) and a 70% WI in the four wells drilled by Helios in the Presidio Oil & Gas Project, namely, Presidio 52#1, Presidio 141#2, Quinn Creek 141#1 and Quinn Mesa 113. It has drilled two vertical wildcat wells into the Presidio Oil Project: Quinn Creek 141 and Quinn Mesa 113 (two miles apart). The Company’s subsidiaries include Helios Energy USA, Ltd, Helios Operating, LLC, Helios Energy (China) Ltd and Helios Energy Holdings Ltd.More