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Helios Energy Ltd ( (AU:HE8) ) has issued an announcement.
Helios Energy Ltd has announced a strategic update for its Presidio Oil & Gas Project in West Texas, identifying a core unconventional sweet spot and several high-impact conventional targets. The company plans to de-risk the project by restarting production from existing wells and drilling new test wells, aiming to enhance shareholder value and reposition its acreage value in line with regional comparisons. Additionally, Helios intends to farm out selected conventional targets to reduce capital exposure while retaining significant upside potential.
More about Helios Energy Ltd
Helios Energy Ltd, trading under the ASX code HE8, operates in the oil and gas industry with a focus on unconventional and conventional oil and gas exploration and production. The company is currently concentrating on its Presidio Oil & Gas Project in West Texas, where it aims to unlock significant shareholder value through strategic exploration and development of identified sweet spots and conventional targets.
Average Trading Volume: 1,509,199
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$48.58M
For detailed information about HE8 stock, go to TipRanks’ Stock Analysis page.