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Lie, lie, lie is the CEO's game. How many times have they announced that they had sufficient funds and no placing was imminent only to drop one the very next week. But that is how the market works.

Lorna could resign, but that would probably make things worse, not that she or the rest of the board have much to lose. She probably doesn't have a clue what to do - which unfortunately seems to be about where HE1 are in their rig and drilling campaign. They didn't have a clue how to get a rig and now they have one they don't seem to have a clue what to do with it.

No, and I'm not saying that HE1 will or even might go into administration as they are purely a drilling company with low overheads and they can get by with a tiny m/cap as so many other companies do. But this whole fiasco could and should have been avoided with some sensible management. Never, never, never say that you are going to do a placing, and don't bloody blame the Nomads/Brokers either. That was just plain, bloody daft.

No, Lorna Blaisse is just completely naive. If Stalker was still around he would have made sure that the announcements were done in the correct order - ie. complete the placing and then announce it. And it doesn't look like anyone else on the board has a clue either. In fact, in the real world, the opposite usually happens - ie. the share price goes through a silly rise of up to 100% and then the placing is announced somewhere near where the share price was before the rise - in this case at around 3p.

No, Lorna

I see on looking back through the posts here that AMTE has been mentioned already. I just remember the reaction when AMTE announced that they needed to do a placing rather than just announce that they had completed one. The decimation of the share price and m/cap was devastating. Exactly the same has happened here.

There was another company, AMTE, who I remember made the mistake of announcing that they were short of funds and would need to do a placing. They did this when the SP was 50p and the market took the news so badly that by the time they announced the placing it was at 1.7p. Today they have gone into administration. You just cannot inform the market that you are going to do a placing or the share price will crash out of all control, as has happened here. This is naivety beyond belief and there is now no way back for the company. Very, very stupid.

Maybe some Directors buys, including from Mr Millholland, might be a good idea to steady the ship and at least convince shareholders that they don't intend to go bust in the near future.

Who's hoovering up the shares?

No one, that's why the share price keeps falling by 10% day after day.

Like most posters here, I am not looking for bad news. I even still have a few shares from a year or two ago - not many, just a few tens of thousands but at a very silly price in the 20's or 30's. I am always on the lookout for an opportunity to buy some more and average down and get my original spend back but the trouble is that the good news required to do that just does not turn up. And it is not helped by the same rampers bleating on day after day, week after week and month after month, spewing out the same old rot when all we get is a fall in production, more and more bond conversions and dilution, a dire lack of newsflow and an ever falling share price.

Sorry, GGS not GSA - you know what I mean anyway. The GGS was completed and commissioned in July (and not October).

15th August 2023:

" The Company commenced upgrading its gas gathering system in the second quarter to debottleneck restrictions at certain well locations, to recover produced gas back to the gas plant and to reduce gas flaring. COPL is pleased to announce that the gas gathering system is functioning and was commissioned on time and under budget in July 2023."

Since the GSA was commissioned and functioning the monthly production figures have fallen month by month. What more proof do you need that it has not worked.

The GSA was completed months ago. It has not increased production therefore it has not worked. And now Winter is Coming. Last year the winter conditions knocked production figures down from around 42,000 bopm to around 35,000 bopm. The same fall this winter will take production down to around 25,000 bopm. Could that happen? - yes. Will that happen? - who knows?

"Did anyone note the tiny CI on the field for 'country of residence' on the Atlas Capital Markets 50 million share purchase, any idea why a company registered in the Caymen Islands is so interested in COPL, wonder who owns that company."

Yes and I also saw someone's post yesterday that seemed to assume that the holding was the bulk of the recently converted Bonds. Here it is, by Careful:

"Hard findings some positives today.

RNS 13th December 53,161,123 conversion payment shares issued.

RNS 18th December 50,161,123 TR-1 Holding by Atlas Capital Markets Ltd

Hopefully they stick & see some value."

Unfortunately, while it is positive to see them holding the shares it is probably just a case of they were about to sell them when the share price rose but that never happened and now they are stuck with them.

Atlas are looking pretty stupid - they have lost half the value of their investment already. Bad timing??

I agree. Lorna's eyes were everywhere except facing the people sitting in front of her or looking at the camera. She looked scared.

Imagine having to pay a drilling company's downtime while the rig was being repaired. I bet a third-party company wouldn't let the drill team go if the rig was idle while repairs parts were being sourced. I think that we can all agree that the rig is worthless except to 'save' costs on HE1's own drilling.

I think that most of us here would be more than surprised if that happened. Wishful thinking though. In reality, I think that HE1 are more likely to make a helium discovery than get any cash or funding from a clapped-out rig.

"The market does not have much confidence in helium exploration at the moment". Note the use of the word 'exploration'.

After HE1 having taken forever and a day to acquire a rig, all the market seems to get is 'we may have made a discovery' but then 'we may not have made a discovery as yet' but 'we know that the Helium is there' but 'we're not sure if we've found any as yet', etc, etc, etc. It just goes on and on.

And Noble Helium are not much better. Despite them claiming that the 2 drills have been successful and that they have made this initial discovery, the share price is at an all-time low and has now even fallen below the discounted placing price. The Aussies obviously have even less confidence in this than the London market.

No news is bad news here - share price wise at least. Noble Helium are now trading at 10% below their AUD0.13c placing despite their 'good' news compared to HE1's fairly 'average' news. The market does not have much confidence in helium exploration at the moment, especially as Tanzania is proving to be such an expensive place to drill.