Helios Energy Ltd (ASX: HE8), an oil and gas exploration company focused on developing resources, today released its quarterly activities report for the period ending 31 December 2025. The report highlights the completion of geological programs and drilling approval quotes, as well as the commencement of first oil and condensate sales from the restarted Presidio Oil Project in Texas. This marks a significant transition for the company from exploration to early-stage production.
Production restart operations progressed at wells 141#1 and 141#2, with optimisation work underway to convert existing exploration and appraisal wells into longer-term producers. The company refurbished and operated surface processing and storage facilities to support ongoing restart activities and near-term production. These restart operations are delivering valuable reservoir, mechanical, and production data, which will inform technical evaluation and future development planning.
According to Managing Director Philipp Kin, the company commissioned and finalised the Geological Programs and Drilling AFE’s to determine their next drilling location. Subsequent to the quarter’s end, Helios Energy is in detailed discussions with numerous parties regarding funding for the ongoing Presidio land, technical work, and drilling programs. As of 31 December 2025, Helios had A$193k cash in bank and maintains a disciplined approach to corporate expenditure during the period.
Helios continues to evaluate its strategy, focusing on capital discipline, operational priorities, and value maximisation. Constructive engagement also continued with Presidio County stakeholders. The company remains focused on a measured, data-driven approach as it evaluates future steps for the Presidio Project, balancing near-term production opportunities with longer-term development potential.
