Helios Energy given extension on Presidio Oil Project

Company News

by Rachael Jones

Helios Energy (ASX:HE8) must drill 3 wells to earn a 70 per cent working interest in the initial 6,400 acres which comprise the Presidio Oil Project and a 70 per cent working interest in each of these 3 wells.

Helios to date has drilled 2 of those 3 wells, the Quinn Creek 141 vertical well and the Quinn Mesa 113 vertical well.

Helios has been granted an extension until 30 June 2019 to drill the third well.

This is expected to spud in April 2019.

Shares in Helios Energy (ASX:HE8) last traded at 14 cents.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.