Ann: Quarterly Activities and Cashflow Report - December 2023, page-8

we have lots of gas and very valuable these days given our location ... so close to export port and to California ...

We just need a drilling program to start to justify building a pipeline into the national grid ...2 or 3 wells should be enough. So encouraging they mention in this quarterly or workover and possible joint venture partner

We
will keep the market informed on the workover of Presidio 52#1

Helios’ primary focus with the Presidio Oil & Gas Project is on phased-in
gas commercialization along with oil production sales. The Presidio Oil &
Gas Project is comprised of a large wet gas resource and from the gas
isotope analysis, it shows the wetness ratios are between 24-30% which
corresponds to oil associated gas in the genetic gas classification.
Several technologies are being reviewed for a potential pilot project,
including utilizing the gas for electricity generation for field use and for local
commercial gas sales after stripping out the liquids (NGLs) for sale. Other
options being evaluated include connecting the field to the Trans Pecos
Gas pipeline located approximately 40 miles to the east, and the feasibility
of utilizing modular small scale LNG plants in the field.
Commercialization options being assessed by Helios for the Presidio Oil
and Gas Project also include bringing in a farm in joint venture partner to
participate in the Presidio Oil and Gas Project