Overview of Helios Energy's Quarterly Activities Report

Helios Energy Ltd (ASX: $HE8) has released its Quarterly Activities Report for the quarter ending 31 December 2023. The report highlights the company's focus on the commercialization of the Presidio Oil & Gas Project in Texas, USA, with a primary emphasis on gas commercialization and oil production sales. Helios is evaluating various technologies and potential partnerships to optimize the project's commercial potential.

Executive Commentary on Presidio Oil & Gas Project

The company's primary focus on the Presidio Oil & Gas Project is to explore gas commercialization and oil production sales. We are reviewing several technologies for potential pilot projects, including the use of gas for electricity generation and evaluating the feasibility of connecting the field to the Trans Pecos Gas pipeline. Additionally, we are considering bringing in a farmin joint venture partner to participate in the project. Our aim is to maximize the commercial potential of the project while ensuring sustainable and optimized production.

Summary of Quarterly Activities and Outlook

Helios Energy's Quarterly Activities Report emphasizes the company's efforts in evaluating commercialization options for the Presidio Oil & Gas Project. With a focus on gas commercialization and oil production sales, the company is exploring various technologies and potential partnerships to optimize the project's commercial potential. The report also highlights the company's strong financial position with no debt and cash at bank of $2,093,000 at the end of the quarter. Looking ahead, Helios aims to continue its operations and meet its business objectives, with a focus on reducing discretionary expenditure until finalizing any fundraising options.