quarterly update

In terms of texas this is the key points

We have drilled three test wells and all three wells have produce oil and gas . The first fracked well currently going on pump (producing oil and gas within days ) and the well just drilled will be fracked either horizontally and vertically in 3 weeks and has very good to excellent oil and gas shows . All infrastructure is complete and ready . Boquillas Formation side wall cores arecurrently being analyzed, with preliminary observations verifying oil and gas shows. Helium on track .

my view is that we had 200,000 acres of play area and that increased to mapped area now of 300,000 acres so you would imagine they will pursue the best areas or the ones that give them the biggest and valued continuous play ... so the land that they disposed of as none-core they let laps if a different area and of no value to them... 7,208 acres within the core area of the Presidio Oil Project were re-leased and a further 871 acres of oil andgas mineral rights, all located in the core area of the Presidio Oil Project, were the subject of new freshleases.

So Presidio 52#1 successfully drilled ...
* Helios has successfully tested and produced oil from all thethree wells it has drilled which have penetrated the Ojinaga
* Formation.The oil analysis shows that the oil in the Ojinaga Formation is sourcedfrom the Eagle Ford Shale Formation.
* Very good to excellent oil and gas shows were observed throughout thedrilling of the entire lower bench of the Ojinaga Formation and throughoutthe drilling of the entire Eagle Ford Formation (which includes the 235 feetof the Boquillas Formation which ends at the casing point in the Presidio52#1 well of 8,255 feet).
* Gas was consistently high throughout the drilling through the entire lowerbench of the Ojinaga Formation and throughout the drilling of the entireEagle Ford Formation and reached over 8,000 units. From the gas isotopeanalysis, it shows the wetness ratios are between 24-30% whichcorresponds to oil associated gas in the genetic gas classification.
* (in the Boquillas Formation), it was necessary to increase the mud weight to 11.5pounds per gallon (ppg) to manage the gas levels in the well
* 30 rotary sidewall cores from the lower bench of the Ojinaga Formation and the EagleFord Formation (which includes the 235 feet of the Boquillas Formation) all of which had live black oil onthe outside of the cores and core staining. Cuttings retrieved from the core tool were also covered with oil....suggests there are severalhighly naturally fractured intervals (with micro fracture halos) in both the lower bench of the OjinagaFormation and the Eagle Ford Shale Formation (including in the Boquillas Formation).

* preparations required for the frack which is planned tocommence in the last week of August 2022.

Presidio 141#2 Well

Finally clarity around (the 3rd well drilled ) so on pump and should be producing oil and gas within days .

* The Presidio 141#2 well is a shallow well with a total measured depth of 5,846 feet including the fracked1,400 feet horizontal portion which was drilled into the primary target zone within the lower bench of theHelios Energy Ltd29 July 2022Ojinaga Formation. The serial pressure build up testing of the Presidio 141#2 well has recently beencompleted and the artificial lift installation is currently underway.


* Helios has successfully tested and produced oil from all thethree wells it has drilled which have penetrated the Ojinaga Formation