Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I quite often cycle to the office, have a shower and then read the RNS and watch the opening half an hour while sorting through emails. If I’m driving I usually catch them just after 7am.
What’s people’s most disappointing RNS - change of registered address, employee block share listing, etc.
@bluebay
It wont be a full flow test and may not be possible in the exploration hole. It is an attempt only to sample of the gas, to get an accurate percentage of helium.
At appraisal the full flow test will be done..
Currently the 3D seismic work is scheduled to end Dec/Jan, some time after appraisals
Wireline and DST testing can hopefully be done on this smaller hole and are enough to declare a discovery.
Flow tests and pressure build up tests have to wait for the larger bore appraisal well. That plus localized 3D seismic in some cases are necessary to get reserves and to get an estimate of at what rate the well can be produced and how best to develop the entire reservoir, including number of offset development wells and completion techniques. All that is necessary to do the engineering and get the permits for field development and certainly for any helium extraction facility. That last item will take careful analysis of gas samples and is much simpler if the gas is all He and NO2 than it is if there is methane and CO2 and any other cases than cannot be simply vented as nitrogen can.
So there is a long way to go. What we are waiting on is drilling to depth, wireline testing, DST testing and analysis of a gas sample from the target reservoir. This piece should not take that much longer. Any future pieces depend on the findings of this piece. Good luck all. Historic means historic so I hope their July newsletter is prescient.
Should have made it shorter and clearer :-)
1. We are now in Exploration phase. After wireline & DST, we are hopefully in a position to announce a Discovery.
2. Post Discovery, Appraisal stage starts, using a new, bigger bore and long flow tests
3. If Appraisal is successful, we are able to announce Commerciality
Blubay, I will try to answer your question before my bedtime. We are currently in the discovery phase. After wireline logging & DST(s) in the current 10cm diameter hole, a decision will be made as to whether it is worthwhile moving to the appraisal phase
Appraisal involves drilling a separate larger diameter hole and performing a full flow test. This involves a number of stages whereby the bore is closed off several times to record the rate of increase of pressure, and then allowed to flow for an extended period. This gives a lot of information on the commerciality or otherwise of the discovery.
Normally you would put the appraisal well in the ideal position as determined by 3D seismic. Currently we only have 2D on a target that is potentially 2km x 5km, so a decision has to be made: Do we save time and money by moving straight to appraisal of Tai? - given that the drill rig is in place, and has the capability of drilling an appraisal bore. OR do we up sticks and move everything and everyone to the next location, drill our 3/4 initial assessments, then return and do the appraisal once we have a clearer picture from 3D seismic? Difficult decision, which is why DM is paid so much, and why he is there on the ground.
Sounds like it :-)
"Wireline and drill stem testing will be completed on identified targets"
So that means they are going straight to flow appraisal on this one?
My alarm goes off at 7am and the first 10 mins of the day are spent checking rns’s.
C OMPANY NEWS:
Drilling has continued over the course of July as we advance our maiden exploration hole at Tai-1. The geological prognosis for Tai was given a boost with an exciting and unexpected helium show at 552m at Tai-1 (as announced on the 12th July). The gas show, trapped beneath a marginal mudstone sealing unit, indicates a prolific helium system with the potential for helium to be trapped under even marginal sealing units.
The demonstration of a working helium system in both Lake Bed and Red Sandstone formations gives us a great deal of confidence as we push onward to test our primary targets. These early indications show the huge potential of the Rukwa basin as we move closer to what could be an historic discovery.
LSE:HE1 JULY 2021
JULY 2021 | NEWSLETTER
COMPANY UPDATE, MEDIA, & NEWS
Drilling continues at Tai-1 with good progress being made towards TD. Wireline and drill stem testing will be completed on identified targets with results announced to the market as soon as possible
Kids! I’d love to lay in until 7 however the young ones need attention lol
Dam that body clock and circurdium rhythm
Why not wake up at 7.00 and get the news straight away. I must admit I can't wait until 7.00 myself.
Seems a lot of us have the same problem.
Hi BB, "...still find it mind boggling we are not mid 30's right now if I'm honest" probably because of the same reason there are a quite a few jangly nerves here.... its taking longer than expected.
Patience .... the single, greatest virtue of all.....
big bench you are a temporary profit !! quick say something else :) the minute you piped up we spiked lol don't waste you powers lol
I wake up at 6 snd have to wait an hour to see the latest rns it drives me mad lol
Buys 8-1 over sells so far
Surely another attack on the 30's by Friday still find it mind boggling we are not mid 30's right now if I'm honest
It's like Groundhog Day lol
I'm lucky with a 9 hour time difference from the UK - don't have to wake up early - for me, it's everyday at 4.00pm, after the school run. Dad, are we rich yet, can I get that gaming PC yet? No - wait another 8 - 20 days.
it must be so close now!
I’m up drinking coffee from about 6am, waiting for vox notifications.
We have got a newsletter though.
http://www.helium-one.com/2021/08/03/helium-one-company-news-july-2021/
How many of us constantly check to see if a RNS has been released between 7am and 7.30am on this site daily