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As a former crab on crack and can certify this as true
We are 15% roughly below the last raise price.Mms have this stuck at this price because they don't know where the company is at,until the results come in along with it hopefully of how we move forward.
More sideways movement than a crab on crack.
@The Bold, your post from 11.00am ish today. Nov/Dec maybe early next year. After the extended well test and after they have thought about the results thereof.
Js15 , careful with that facade, there's a lot of cracks developed.
Skippy
It would make sense for HE1 and Noble to share the well test package. One tests, whilst the other drills
Most definitely not
So joe calling me a ponce is ok
beesty hopefully ive just got you banned. ****phobic posting should not be tolerated.
Not clear to me when Noble are doing EWT. It occurs to me that Noble and HE1 could partner on that. Even if they did this at the same time - going with the same company, people etc would help. Can also see Noble using the HE1 drill - in fact it seems bonkers no to?
Not talking EWT but drilling now but do bear in mind though that the two previous NHE drills were extremely shallow and short lived; a deeper drill through harder and faulted rock is likely to take longer, involve greater wear and tear and consequently be more expensive - all but for one major mitigating factor and that is that He1 owns their own well. To what extent that acts as a counter weight to those additional costs I could not comment - we saw from Tai3 that it can be more of a problem than a benefit...
I think we've probably exhausted the 1.15p, 1.2p and 1.25p sellers and somebody has bagged all that slack for the good times ahead. So not much point throwing away any more shares to try and gain very little in return. I couls be wrong but at least that's how it looks to me.
Liberum's 5.3p seems a fairly worked out and reasonable target price and with plenty of middle ground to be had.
GL all whatever your positions.
And previously they raised AU$12M = £6.2M for these two drills
Noble Helium Limited (ASX:NHE) (“Noble Helium” or “the Company”) has received firm commitments from institutional, sophisticated and accredited investors to raise $12.0 million (before costs).
The Company is pleased to announce that it has received firm commitments from institutional, sophisticated, and accredited investors to raise $12.0 million (before costs) through a placement of a total of 60,000,000 million fully paid ordinary shares in the capital of the Company (Placement Shares) at an issue price of $0.20 each (Placement).
The funds will be used to drill the Company’s second exploration and appraisal well at its North Rukwa Helium Project in Tanzania in Q3 2023.
Thanks for the estimates. I was curious to know what an EWT actually involves - got the following from ChatGPT which is helpful - apologies for the length. Looks like this operation could take a few months:
An Extended Well Test (EWT) in the context of helium exploration is a phase in the exploration and development process aimed at assessing the viability of extracting helium from a specific well or reservoir. It involves conducting a prolonged period of controlled helium production from the well to gather crucial data regarding production rates, reservoir behavior, and other factors necessary for making informed decisions about the commercial viability of the helium resource.
Here's an outline of what an Extended Well Test typically involves:
Preparation: Before commencing the EWT, the well needs to be adequately prepared. This may involve installing necessary equipment such as valves, separators, and monitoring instruments. Safety measures must also be put in place.
Production: During the EWT, helium is produced from the well at a controlled rate. The rate of production may be adjusted throughout the test period to gather data on various parameters such as flow rates, pressure changes, and helium concentrations.
Monitoring: Continuous monitoring of various parameters is essential during the EWT. This includes monitoring helium concentrations in the produced gas, pressure changes within the reservoir, flow rates, and any other relevant data.
Data Collection and Analysis: Data collected during the EWT are analyzed to assess the reservoir's behavior, production characteristics, and overall viability for commercial helium extraction. This analysis may involve sophisticated techniques and modeling to understand the reservoir's properties and predict future production potential.
Decision Making: Based on the results of the EWT and the accompanying analysis, decisions are made regarding the feasibility of commercial helium production from the well or reservoir. Factors such as production rates, reservoir size, gas composition, and economic considerations are taken into account.
The duration of an Extended Well Test can vary depending on factors such as the complexity of the reservoir, the objectives of the test, and regulatory requirements. It may last anywhere from several weeks to several months. Typically, the test duration is long enough to gather sufficient data to make informed decisions about the commercial viability of the helium resource while also being practical in terms of time and cost
The $14M is Aus $ = £7.2M
https://www.investi.com.au/api/announcements/nhe/15277dc3-8a7.pdf
Noble Helium Chief Executive and Co-founder, Mr Justyn Wood, said:
“The two wells at Mbelele have confirmed that the North Rukwa is a unique and prolific helium producing province. With this funding we will now move as quickly as possible to appraise and test both the crestal gas cap identified and the deeper sections of Mbelele-2, which has been cased and suspended ready for a flow test and as a potential future producing well.
Do they state Oz dollar? It's 11mil in US dollars, which is industry tender
It's a there about figure, say 3-4 mil (if it's oz dollars) a EWT. I can foresee them doing another raise between now and drilling season too
Joe. Agree. Trying to work out how that's sp[lit. As per my message below - that's about £8m.
So maybe between £2m and £3m for one well EWT?
Noble raised 14mil for 2 EWT's and a bit of re-drilling on the first well. So 14 mil is a BIG clue as to the kind of costs we are looking at
Important to note that the Noble raise for 14m is Australian dollars so about £8m. Not clear how this is broken down into 2 wells tests and more drilling?
I still think it would be useful to see some examples of the cost of an EWT? I tried to look for this with Avanti Helium but frustratingly they only have the last 3 market announcements on the website and finding it all in the Google jungle is very frustrating. It's a very similar green hydrogen play.
Not something I wish to dwell on !
Well Wimbledon I guess they have very little else to do whilst on those offshore Oil Rigs eh?! :0)
Not wishing to take sides but this did make me chuckle 'love the crack shack'
It is a moot point whether we will see the new modelling and resource estimates until the outcome of the EWT, though as we have been told that there should be news in the "near future", I suspect that we will and, if so, in my opinion we could expect to get it any time from mid April onwards. It will also be interesting to see if we get it in advance of a fund raise or simultaneously - I rather hope the former as a good outcome will give the sp a boost and ensure that the raise will be done at a higher sp and with a minimal discount, thereby minimising any dilution.
Bring it on and the sooner the better, is my view, get it done and put the money in the coffers and eliminate all the speculation and uncertainty around funding; the we will then have nothing to look forward to but the EWT, drill, and possible JV news all positive value accretive stuff.
Hi guys, when do we think we will see first results of commercialisation studies ?