Member Info for ART123

"The board have resolved to issue 8,000,000 options in aggregate to subscribe for ordinary shares (the "Options"). The Options have been issued as to 5,000,000 to Lorna Blaisse and 3,000,000 to Kai Gruschwitz, the Company's new Technical Director. The Options will vest in three equal tranches over the next 3 years and are exercisable at 6.25p per share, a premium of 16.8% to the closing share price on 22 February 2023, being the last practicable day before the issuance of the Options."

Fine, that was what I was looking for as all of the other management options are at a much higher price than today's. Still they can only vest 1/3rd of the 8 million as they are vestable in 3 equal tranches over 3 years.

This is a mystery that needs to be explained in more detail.

It says these are options and not warrants. Maybe a little more information would have been in shareholder's interests ie. who has exercised their options and at what price and how much has been raised, etc. as this is quite a lot of shares to be issued (recent exercises of warrants have been for amounts of about 500K shares while this is 6 million).

The one issue I do have with Lorna Blaiise is that her communication skills with shareholders are very poor - RNS's are infrequent and like today's, short of vital information.

This RNS needs to be re-issued with the complete information, or rather to include the missing info.

'As Lorna states in the interview, getting in now is the right time with the helium market as it is @

Funnily that is exactly what they were saying in 2017. Maybe they need to get a bloody move on and get it right this time round.

On fact-checking through the Scirrocco Energy RNS's back to the days they were Solo Oil it transpires that Helium One were in existence prior to March 2017 when Solo with Mt Ritson as CEO made a 10% investment in Helium One. That is what I remember. Funnily enough Helium One and Solo Oil were still talking the talk back then in much the same way as they are now. Links can be provided if required.

Maybe it is a little embarrassing that it has taken them at least 8 years (as Helium One Ltd were founded in 2015) so far and they still haven't even made a discovery.

SOLO was renamed Scirrocco Energy, though after Mr Ritson had retired.

Helium One Global Limited ("Helium One") merged with the AIM Rule 15 cash shell, Attis Oil & Gas Ltd (AIM: AOGL), to form an enlarged entity to be admitted to trading on AIM.

I still seem to vaguely remember that it was Mr Ritson who originally started Helium One, though I may be wrong. Mr Ritson was always better known as David Lenigas's right-hand man and "partner in crime".

I never had any SOLO shares by the way though I was thinking the other day that I vaguely remember that it was Neil Ritson, once CEO of SOLO, who first brought up the subject of Helium in Tanzania only to be laughed at.

I thought that his company was named Helium something - was it in fact a forerunner of the current HE1 or are they completely different?

So in 2021 the share price reached 14p with 500 million shares in issue giving a m/cap of £70M which is the equivalent of 8.55p now with the current 820 million shares. 100 million shares were issued at 10p so on the placing day the m/cap was £60M or the equivalent of 7.3p today.

Also bearing in mind that even though the price of helium might have risen over the last few years the AIM market is a lot, lot worse than it was a couple of years ago, particularly in terms of raising funds.

HE1 will not want to risk leaving a placing until after spud or after the drill results so if they are going to need more cash at any time during this drilling campaign they will have to get it raised first. Of course, that still doesn't mean that they are going to do a placing - but they might.

"Was recorded Monday last week when HE1 were in the city" according to Cocobeans. I wonder what HE1 management, at least those who are still left, were doing in the city?

A podcast/interview by Liberum Capital Limited (Nominated Adviser and Joint Broker) and not just by the usual run-of-the-mill cowboy podcasters. I'm surprised we haven't had a placing announced yet as that is what the Brokers do as far as I know.

Also it might explain the exodus of management as they might not have wanted to partake in a placing if in fact one is imminent.

It is obviously a good time to save costs having secured a very cheap rig option and when they are about to drill a company-changing well.

I'll repeat, the good news is that Lorna Blaisse is still in her job. If she had left too I might have been a bit more worried.

I had another share which multi-bagged in the run-up to drilling and during drilling in 2021. However, earlier this year when they drilled a similar prospect with equal success, the share price did absolutely nothing and even fell.

The market is very different to 2021. Maybe this isn't going to rise as we all expect/hope pre-drill, especially with Noble Helium presenting a completely different valuation.

Just a thought.

Despite having an equal prospect and opportunity. Is one of these overpriced - or is one of them underpriced????

Noble Helium meanwhile have a m/cap of 1/3rd that of HE1,

Maybe they really didn't want to buy any shares themselves but even so they didn't need to jump ship just before the important drilling is due to start.

Was the news worth a comment by the CEO - of course not. She appears to have a great inability to communicate with shareholders - apart from the odd podcast. Maybe it should be explained to her that keeping shareholders informed of progress is part of her job!!.

Well the good news amongst all of this carnage is that Lorna Blaisse appears to be still in her job - for now at least!!!!!

It looks like they maybe forgot to issue the placing shares - cos if anyone did get any they certainly don't seem too keen on selling them!!

I'm in it for the pre-spud rise, along with everyone else. So far this expected rise has not happened. I am also pointing out that dilution will have reduced the possible target - in 2021 with 600M shares in issue at 20p the m/cap was £120M. Now with 820M shares in issue the equivalent share price would be 14.6p.

In 2021 there was a placing during the run-up to spud, despite HE1 being fully funded, etc. Will that happen again this time in the run-up to spud?

Plus there is not much incentive to hold too many shares here once drilling has commenced after what happened last time - the share price fell from 26p to 6p even with the helium shows and without getting repetitive 6p then would be 4.4p now.

Plus, of course, the price of Helium is only of relevance if HE1 actually make a commercial discovery. That is not a certainty at this stage.

Yes, and it also ignores the appalling market sentiment across the whole commodity sector, the failure of the first drill campaign and the subsequent collapse of the share price, the two-year delay to get another rig sorted and the departure of 2 of the most senior directors, both of whom were only replaced with existing staff/board members.

Plus after the placing in the run-up to spud last time, when they were also fully funded, etc, etc, there is always the risk of that happening again - again depending on how much was spent on the rig (and I wouldn't believe the figures spouted on here).

It will be interesting to see what happens to the Noble Helium share price and m/cap in the run-up to spud. At the moment it is about £23M (AUD44M) which is considerably less than the £70M + m/cap here.

Also in 2021 the HE1 share price peaked at a whopping 24p pre-spud which gave a m/cap at the time of a whopping £144M. If the m/cap reaches around the same this time around that will give a share price allowing for dilution of around 17.5p.

Any further dilution between now and spud will reduce the upside even more. When the SP hit 14p back in 2021 just before the placing that was the equivalent to about 8.5p today (500 million shares as against 820million).