I’m not surprised that Helios Energy Ltd’s stock is heading towards zero given the ongoing issues:
1.Lack of Detailed Production Data:
Helios has never provided clear daily production rates for their wells. This lack of transparency is highly unusual and makes it difficult to trust their performance claims.
2.Financial Instability:
Cash reserves have dropped from $1.206 million in March 2024 to $464,000 in June 2024. This decline raises serious concerns about their ability to sustain operations without new funding.
3.Operational and Acreage Concerns:
Their leasehold acreage has shrunk from 17,850 to 8,670 gross acres, indicating potential difficulties in maintaining their leases.
4.Poor Communication:
Despite a year of new leadership, there’s been little improvement in transparency and communication with shareholders
I bought in at 10 cents and accepted a loss by exiting at 7, intending to re-enter at a better price. Unfortunately, it looks like those prices are here now, but there’s absolutely no motivation to buy
No wonder they’re struggling to find investors – something they’ve been mentioning in their reports for a while now
Cheers
