Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Guys, not been in any 'alternative' gas exploration and production company before, i.e., non-combustible type.
Why is no one wearing masks at the drill site? I ask as surely over exposure to He can't be good??...further, Covid guidelines?
Googling: "The more pure helium you inhale, the longer your body is without crucial oxygen. ... Inhaling helium from a pressurized tank can also cause a gas or air embolism, which is a bubble that becomes trapped in a blood vessel, blocking it. The blood vessels can rupture and hemorrhage."
Ok, Just re-read the spud rns, a bit slowly!...and noted this at the bottom (from DM):
"Drilling of the first well is expected to take approximately one month to complete and will produce valuable information about the subsurface. Helium detection will be constantly monitored during drilling to identify helium gas shows from mud logging. On completion, wireline logs will be run to measure formation properties downhole, as well as identifying any pay zones in the success case. Any discovery will be tested with a drill stem test to attempt to flow a sample of gas to surface for grade analysis."
So seems wire logging was always planned upon 'completion'. So we are unlikely to hear about any zonal traps until TD.
Hellohihi, thanks for your reply.
"I imagine they’re still getting helium shows all the way down but not worth RNS the same thing over and over."
Yes, I get that. but in the interview he has also intimated that He show @ 400m is higher than @ 70m.
I am assuming this positive trend as we go deeper has forced him to skip the intermediate tests - and reporting - and press on drilling to TD. Makes sense. But (a minor but), being the first drill on this journey, with uber excitement, he was happy to do an interview but the stakeholders have no direct access to that information (nothing on company website), I think a deviation (?) to the original plan perhaps deserved an rns.
Hope he maintains that bounce in his stride @ 6:00 AM!!
Sorry to butt in, but seeing many think DM chose not to report at 400m (rns) as he chose not to wire log the hole, then why did he RNS at 70m?....didn't have to as no wire log. Am I missing something?
Surely as the spud rns laid out what the drill schedule was, I (may be I am being naive) thought we'd get an rns at 400m.
Just questioning the logic being presented by some, though not too fussed as I intend to be around throughout the 3 wells programme.
PJ, TBH, I am a little irked by how the information is being disseminated by DM.
Agree with you that Tweet y'day was poor PR, even after clarification. Then rather than tell shareholders directly about the progress, he chose an interview. Why not a tweet this time round? Obviously nothing worth RNS'ing, and I am not complaining about the interview. Just a tad miffed by channel used for updates. I'd have loved a Tweet saying 400m and counting!
Need also to manage expectations. One month is not cast in stone. RNS said "approximately one month". You can only plan so much for unknowns. This is after all the maiden drill.
I remain optimistic there'll be something to announce prior to TD.
GL
Indeed ndn71.
I welcome the tweeted pictures as it shows not only the activity on in the field, it also gives a feel for the setup, equipment and personnel. I welcome that. But to regurgitate 10 days old statement alongside was uncalled for. Picture without words would have been adequate.
I commented yesterday that I expect some sort of announcement before TD and that silence will not go down well. But the PR around the ill-conceived tweet hasn't gone down well either. Hope some of DM's excitement is utilised to address the PR that supports HIS views.
Well done Tommy!. Yes, may be opp missed. Same happened y'day, put in an order at 24.7 but it bottomed just above. I tend to stick with my targets and review next day. Two days of yo-yo-ing and might not get another chance. There's always another range to aim at. BTW, I did the same as you with the last trade, selling out @ 27.5!
I haven't personally read the article. However, based on what's been posted since yester day, I don't subscribe to "you could lose the lot" or insinuation that things go "t!ts up". For either of those scenarios to come true the company would need to go bust. That essentially questions the fundamentals of the business and the competence of a number of professionals involved. Yes, could happen, but the journey has only just started.
It may be binary, but with one lottery ticket we're entering several draws (multiple wells with potentially multiple pay zones). A risk well worth taking. Even if they were all dusters (very unlikely imo), the acreage is vast and lessons learnt could be applied to refine the 'next stages'.
With such a volatile E&P investment, my strategy to have a core holding and a trading pot. With several milestones on the horizon, there may be opportunities short term. My core holding is for the distance of initial 3 wells. As for the trading pot, I am sitting on my hands presently. If it dips further, I'll take a nibble!
Each to their own. DYOR. GL.
B**x!
C n p it is then!
2016 article in a Tz media:
New York. Commercial production from the vast helium field recently discovered in Lake Rukwa may start in five years, according to the CEO of the Norway-based company spearheading the project.
“If all goes according to plan, we could be in production by 2020 or 2021,” Helium One chief, Thomas Abraham-James said in a telephone interview.
Mr Abraham-James said additional testing will be carried out next year as part of a “feasibility analysis” focused on the Lake Rukwa find.
“With all these projects, we need to drill and confirm that the gas exists beyond any doubt,” he added.
Helium One, a startup firm incorporated last year, must also raise capital before it can begin extracting the gas, the CEO said. The company is reportedly seeking $40 million (Sh84 billion) in investments. It is still not clear how the Tanzanian government will participate in the project.
Energy and Minerals minister Sospeter Muhongo told The Citizen yesterday that more details would be known when the production agreement is negotiated and sealed.
“We have not come up with a production sharing agreement, but according to the law, the government must have shares in every new mine that is established in Tanzania on behalf of Tanzanians,” he said.
News of the Rukwa find has prompted speculation on the part of some Tanzanians that the country may be on the brink of a helium bonanza.
British and Norwegian researchers’ discovery of a reservoir that could contain 54 billion cubic feet of helium could ultimately generate “hundreds of millions of dollars” in revenues, Mr Abraham-James estimated.
Some independent analysts have estimated the total resources to be worthy $3.5 billion in monetary terms.
But the Norway-based CEO warned against viewing the discovery as the potential equivalent, in monetary terms, of Tanzania’s enormous natural gas reserves.