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the trading halt is requested pending a potential application by the

Company to the Federal Court seeking orders in relation to the

Company’s inadvertent failure to lodge a cleansing notice pursuant

to section 708A(5)(e) of the Corporations Act within the prescribed

5 day period after the issue of 95,333,357 shares in the Company

on 4 March 2021;

 

Think they need to fire the company accountant!! V1

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â–  Helios is an oil and gas company solely focussed on onshore Texas, USA

â–  Drilled 3 wells: Quinn Creek 141#1, Presidio 141#2 and Quinn Mesa 113

â–  New Oil Discovery in the Ojinaga Shale Formation

â–  In June 2018, Helios successfully completed a one stage frack in the Quinn Creek 141#1 well to test the lower Ojinaga Formation (at 4,744 feet depth). Well flowed 260 barrels of oil and 1,345 barrels of completion fluid in 168 hours. Gas was also produced at 456 mcf per day on a 34/64ths of one inch choke. Very encouraging oil and gas production from a single stage vertical frack

â–  The oil produced is high quality, mature, 39 degrees API gravity light oil similar in composition to Eagle Ford Shale oils

in Feb 2021, Helios conducted a capital raising of $11,440,003 by way of the issue of 95,333,357 shares at a price of 12 cents per share (Placement). The Placement was made to sophisticated and professional investors under the provisions of section 708 of the Corporations Act 2001 (Cth).

 

- money to frack and produce from the three wells

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