Australia's Helios Energy rises on progress update from Texas oil project

Helios Energy

06/01/2023 24:44

** Shares of Helios Energy Ltd  HE8.AX  rise as much as 4.0%
to A$0.078, their biggest intraday pct gain since Dec. 28
    ** Oil and Gas explorer says frac job for Presidio Well 52#1
at co's Presidio Oil project in Texas, U.S., is expected to
commence on 10 Jan 2023
    ** Frac job is a process of extraction of oil and natural
gas by injecting a mixture of water and certain chemicals under
high pressure into well holes, allowing the oil or gas to escape
 
    ** Stock of HE8 has fallen 19.2% in 2022
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))