Exciting Developments at Helios Energy Ltd's Presidio Oil & Gas Project

Exciting Developments at Helios Energy Ltd's Presidio Oil & Gas Project
Highlights:

• Successful Workover: Helios Energy Ltd has revitalized the Presidio 52#1 well, achieving an impressive initial instantaneous rate of 839 mcfd of wet gas post-workover.
• Innovative Partnership: Helios has forged a game-changing agreement with Macaw Energies LLC. Macaw’s cutting-edge modular natural gas liquefaction facility (Macaw LNG Module) will harness and process natural gas that would otherwise be flared or wasted, boosting production efficiency.
• Promising Test Results: Macaw's LNG Module has demonstrated its ability to ramp up gas production from 300 mcfd to 1,200 mcfd, paving the way for substantial increases in gas capture and monetization.

Project Overview:
Helios Energy Ltd (ASX:HE8), a prominent oil and gas explorer and producer, is thrilled to announce significant progress at its Presidio Oil & Gas Project in Presidio County, Texas. This extensive 17,850-acre project, encompassing wells like Presidio 141#2, Quinn Creek 141#1, Quinn Mesa 113, and Presidio 52#1, is poised for accelerated development and commercialization.

Strategic Gas Commercialization:
Helios is laser-focused on phased gas commercialization alongside ongoing oil production. The project boasts a substantial wet gas resource, with gas isotope analysis revealing wetness ratios of 24-30%, indicative of oil-associated gas. This underscores the project's robust potential for both gas and oil extraction.

Revolutionary Partnership with Macaw Energies LLC:
The collaboration with Macaw Energies LLC marks a pivotal moment. Macaw's proprietary LNG Module, designed to eliminate gas flaring, will process and monetize otherwise wasted natural gas. This not only enhances production efficiency but also aligns with environmental directives to curb gas flaring.

Workover Success at Presidio 52#1 Well:
The Presidio 52#1 well, drilled to a depth of 8,806 feet, has shown remarkable oil and gas shows throughout its primary and secondary target formations. Following a successful workover, the well has restarted with an impressive initial rate of 839 mcfd of wet gas, significantly improving production performance and setting the stage for further development.

Future Prospects:
With the deployment of Macaw's LNG Module anticipated by June 30, 2024, Helios and Macaw are poised to transform the Presidio Oil & Gas Project. This innovative technology will not only eliminate gas flaring but also bolster oil production, enhancing overall project value and environmental sustainability.
Helios Energy Ltd remains at the forefront of the oil and gas industry, leveraging cutting-edge technology and strategic partnerships to unlock the full potential of its Presidio Oil & Gas Project. Stay tuned for more exciting updates as Helios continues to drive forward with its ambitious development plans.