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HELIX RESOURCES LIMITED Share Issue/Capital Change 2006

May 22, 2006

65059_rns_2006-05-22_9189da5b-f8a8-40c4-87b3-34de18715aea.pdf

Share Issue/Capital Change

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23/05/2006

The Manager Company Announcements Office Australian Stock Exchange

BY ELECTRONIC LODGEMENT

Dear Sir

CONVERSION OF OPTIONS EXPIRING 31 MARCH 2007

Please be advised of the following conversion of options expiring 31 March 2007, code: HLXO.

CONVERSIONS:

No. Of Options Expiry Date Exercise Price Reason for Conversion
28.361 29/03/2007 \$0.14 ! Conversion to fully paid ordinary shares .
28,361 Total

CLOSING BALANCE:

No. Of Options Expiry Date Exercise Price
19,139,475 31 March 2007 \$0.14
19,139,475 Total
No. Of Fully Paid Shares
95,866,927
95,866,927 Total

Yours sincerely

Riccardo E Vittino Company Secretary

P.O. Box 825, West Perth, Western Australia 6872 Level 3, 24 Kings Park Road, West Perth, Western Australia 6005 Telephone +61 8 9321 2644, Facsimile +61 8 9321 3909, Email: [email protected], Website: helix.net.au