RE: Ireland vote tonight9 Oct 2024 21:11
Taken from ADVFN:
helpfull: The force is strong here.
The myth of helium.
"Seven gas samples collected in isotubes in MOU-3 whilst drilling at measured depths of 446, 508, 555, 750, 817, 846 and 1395 metres were analysed by Applied Petroleum Technology (UK) Ltd. ("APT") in their Oslo laboratory. Gas composition is in the range 98.04 to 99.57% methane"
"The gas sample analysed at 1395 metres MD KB in the Moulouya Fan in MOU-3, unlike any other shallower gas sample collected whilst drilling, showed evidence for the presence of helium"
Seven gas samples and only one showed the presence of helium.
But helium is a "light" gas and hasn't managed to migrate upwards.
Some experts were opining that all the helium would be updip, it being lighter, but no evidence of helium being upwardly mobile in Mou-3.
So the maximum percentage of helium in Mou-3 is 1.96% (if all the non methane gas is helium) but only evidence of helium was announced, not a percentage.
Move on to Mou-5 and 104.31 BCF(P50) of helium is envisaged as 1.76% of 5.916 TCF (P50) of methane.
Based on global averages.
Not on Mou-3 sampling.
Bear in mind the "evidence of helium" sample could have been nearer the 0.43% mark.
And ignore that no evidence of helium was announced for the other six samples from the same well.
Any straw in a storm.
Despite the lack of flow rate news and no evidence of uplift in share price of share volume, I am rerating my target price to Β£58.90 allowing for the spiffing news about helium potential.
Be careful.