Chopjock
Because that (given the facts of a call to enter the zone at 2218 and catastrophe at 2222) WOULD have been grounds for a PAN call at least when the first engine failed and the pilot being incapacitated or some similar catastrophe when the second engine failed.
Also, no sane helicopter pilot given 1 minute or so warning of complete power loss (ie first engine stopping) fails to do everything necessary to cope with the imminent event. Which, with one spectacular exception in my 37 years knowledge, has never previously involved a twin simply running out of fuel.
Now, if you are postulating two entirely independent failures, I am willing to discuss the odds. Would you like to play poker?