HELIX RESOURCES LIMITED — Director's Dealing 2004

May 3, 2004

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	HELIX RESOURCES LIMITED
IA BN	27 009 138 738

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Bryce Edward WAUCHOPE
Date of last notice	25 July 2003

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect inferest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Niddrie Holdings Pty Ltd, of which BE Wauchope is a Director and Shareholder
Date of change	$3^{\rm rd}$ May 2004
No. of securities held prior to change	442,502 Fully Paid Shares ٠ 140,834 Listed Options
Class	Fully Paid Shares ۰ Listed Options
Number acquired	150,168 Fully Paid Shares ۰ 207,973 Fully Paid Shares 103,986 Listed Options ۰
Number disposed	nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$89,535.25
No. of securities held after change	831,893 Fully Paid Shares ۰ 103,986 Listed Options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Conversion of Listed Options to Fully Paid Shares; and Subscribed to entitlement in rights ۰ issue

⁺ See chapter 19 for defined terms.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	$3rd$ May 2004
No. of securities held prior to change	81,250 Fully Paid Shares ۰ 16,667 Listed Options
Class	Fully Paid Shares ٠ Listed Options
Number acquired	16,667 Fully Paid Shares 32,639 Fully Paid Shares 16,320 Listed Options
Number disposed	nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$12,326.65
No. of securities held after change	130,556 Fully Paid Shares 16,320 Listed Options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Conversion of Listed Options to ۰ Fully Paid Shares; and Subscribed to entitlement in rights issue

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to
which interest related prior to
change Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.

$+$ See chapter 19 for defined terms.