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Sorry that doesn't work either..........

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More posters who are living in dreamland with their very own rose-tinted glasses. Read the RNS today. It clearly says in black and white in common English:

"Planning for rig transport logistics from Kenya to Rukwa is well advanced and is expected to take approximately one month from acceptance and contracting of the Rig and equipment. Drill pad construction has been planned utilising a matting system to reduce time and cost associated with project civils."

According to HE1 management it will take approximately one month - though going by experience of HE1 management timelines it is likely to take longer - maybe 6 weeks.

8 posts - not 10+ - and this is number 9 and hopefully my last for a while.

I will believe that this drill is going to happen this year when we get informed that HE1 have signed a drill contract and are given specific dates - and not before.

It might be a lot quicker - Tai-2 was spud on 19th August 2021 and completed (albeit rather mysteriously) on 26th August. The whole drill only took 7 days - but then it didn't really achieve very much.

HE1 themselves give the rainy season as starting in November - from RNS dated 26th August 2021 "...before the commencement of seasonal rains in November."

So if they won't get a rig contract signed before September and it is going to take at least a month to get the rig to Tanzania and drilling will take up to 2 months - which is what it took for Tai-1 to reach TD - and the rainy season starts in November then it is looking increasingly unlikely that HE1 will get this drill done this year.

Yes, to be honest, this "marvellous update" says absolutely nothing. And it certainly opens the door to further delays and very slow progress. The truth is they might quite simply miss the drill window this year altogether. Not to worry though as Noble Helium have a 2 well drill planned for next year so they can wait for them.

The only safe thing to say here is that drilling will be confirmed at a later date depending on a number of factors and then we will all know exactly when this will happen.

Last year the rig was already In Tanzania, which incidentally is in East Africa.

Last year the rig was mobilised on 29th April and spud was on 14th June - so it took more than six weeks and that drill rig was already in country - whereas this current rig is not.

Maybe I didn't know because the previous update - on 24th May which incidentally in more than two months ago - only said:

"Due diligence and contract negotiations ongoing for a drilling rig located in East Africa."

It didn't specify that the rig wasn't already in Tanzania.

Meanwhile Noble Helium are planning their 2 well programme for next year - maybe HE1 will wait and see how their drills go first. Maybe they can then use the same rigs as Noble.

A whole lot of nothing. It doesn't sound like DM flew out to oversee the rig audit as he had previously said would happen so that info was probably just b*llshi*t for the podcast fans. Also I didn't know the rig was in Kenya.

What is certain from this RNS is that nothing is certain and the rig and associated items may or may not all be ready to drill this year before the wet season kicks in.

I don't remember all this fuss and uncertainly when they drilled last year - very strange.

" Helium One is working to define a timeline to mobilise critical well evaluation equipment which will define the start date for Phase II drilling campaign"
considering that last year there was a nearly three month wait between the appointment of the drill contractor - 22cnd March - and spud - 14th June - then they will need to get a move on and unfortunately with the rig needing to get across an international border this is I consider looking increasingly unlikely to happen this year.

Also this sentence doesn't sound like there is much commitment - "There are no major failures identified to date that Helium One management team believe would prevent the Rig from being used successfully in a future drilling campaign." - "in a future drilling campaign" - I thought we were on about this year's drilling campaign.

I really can't believe the total disinterest in this share by the LSE.

Canada moved up by 27% one day last week in expectation of and preparation for the imminent CPR and quite rightly so and this could and should have been followed by further rises. However the arrogant, pathetic London Market not only ignored the rise but bashed the f*ck out of Canada and forced them back down to their own low levels. It is truly pathetic.

Thanks.

sorry that should read fraccing...but my phone doesn't seem to like the word!!!

What sort of flow rates would be considered a good/great result from this franccing? If anyone knows.

Where the hedge is this far out of kilter the COPL management need to talk to the hedge provider and either get some of the money paid back to them or have some assigned to pay of some of the debt.

I see that ANGS management have gone to their hedge provider and had some of the hedged supply of their soon to be produced gas moved to next year to allow them to take advantage of the current higher prices.

Anything and everything can be changed with common sense and agreement so surely the COPL management should also address this woeful hedge issue that is seeing them lose almost half the value of the oil they are producing. In fact they should of worked this out with whoever is enforcing the hedge a while ago.

With the predictions of higher oil prices for the foreseeable future, to continue with this tin-pot silly hedge is bonkers.

They are even taking a risk of going bust because they are losing millions of $'s of their own hard earned income over something that is now out of date and obsolete due to international circumstances.

Wake up COPL management and talk to those concerned to get this corrected as soon as possible.

FTSE is up today, Oil is up today, COPL is down today - it just doesn't make any sense.......

penstock - please stop confusing the issue. The permit is clearly due by the end of July or thereabouts as it always has been and not October. See RNS dated 27th June.

The importance of this permit is then highlighted in the recent RNS dated 25th July with mention also of the possibility of using the third HWM to further up production to up to three times the current level.

"As previously announced, an application for a permit to mine a much larger area than is currently being mined by the first highwall miner is in the final stages of being approved by the Department of Environmental Protection in West Virginia (the "DEP"). This will allow a second highwall miner, to be supplied by MHW, to commence work. Once mobilised and operational both highwall miners will be able to operate simultaneously. This will allow production to increase steadily, reaching up to 80,000 clean tons per month which is expected to occur between September and December 2022.

Underground mining, which commenced production recently, required considerable capital expenditure both prior to and post the admission of the Company's shares to trading on AIM. It is expected this source of coal will enhance our production in the coming months to enable the Company's overall monthly production target to reach up to 80,000 clean tons per month.

The Company is currently analysing the feasibility of deploying its own highwall miner onto the newly to be permitted site to allow all three highwall miners to operate simultaneously, once the necessary repairs have been completed."