Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
What are you referring to Dai?
Something to do with us being a "Helium discovery company "
I think that would be an absolute last resort,
They have gone to town on this rig by all accounts. Epiroc/atlas copco have a huge presence in east africa and spares are readily available.. by the time theyre done it will be as good as new.
I firmly believe they know they have at least a shallow discovery for the taking at Tai.
Remember we had 2.2% gas @ 70m depth. Quemscan showed good resevoir porisity and seal at this depth. We have been over Tai with enhanced seismic and E.R.T all checked over by the enhanced geosciences team.
The have also said they have a new lakebed closure at Tai which could be even more attractive than at the first site.
I genuienly believe they could rock up with any 200m capable drill and wireline tools and we would be able to say the magic words "discovery" but they obviously need progression and to test the entire stratigraphy.
They want to test the Karoo and ensure any wells are done to a production standard.
From what I can see we had a shared drill fall through due to unforseen circumstamces. They explored a large containerized rig from texas which likely required a fund raise and high costs. They have instead opted for a local option which will be completely sufficient for our needs to get is to a discovery this year.
In my view they are doing everything right.
We will have a discovery in 2022.. mark these words
Muscles, you only have 100k shares you wet wipe.
And no im not expecting an RNS monday, maybe not even tbr monday after that but I'm certain they are drilling this year
Midak dont own the drill, they are just a small company with Mike Williams at the helm providing us with well design, engineering and rig selection.
The rig, as covered before, is likely one owned by cluff ( now hotspur) geothermal located in Ethiopia or Kenya.
The amount of time, expense and servicing thats already gone into this rig, I really cant see us not having assurance that its ours to use. As they have said this last stage is just the audit now likely required for insurance and forms part of the hire/purchase contract.
Even if for some unforseen circumstance we dont make drilling this year, im certain we will be using this rig to do so as soon as is humanly possible.
In the last interview 3 weeks ago David said he was going out shortly to supervise mast up and finalize the rig. Mike williams will follow soon after in my view to meet the audit team to begin the audit which might only take a few days as extensive preliminary upgrades, maintenance and testing will have been done at that point.
The paperwork for export we were told was ongoing so once the audit is complete, the already drafted contract can be signed and will be on our way. Rig mobilized, final ancillaries ordered, camp and drill pad conatructed with a drill date late september.
We are on schedule
We are definitely associated with MIDAK. Mike Williams is named as our well engineer and MIDAK named in our well engineering for last year.
Our licenses are owned by our tanzanian subsiduary companies .. one is gogota ltd.. i forget the other off the top of my head
Back to school for you young man, your spelling needs attention and the content of your message is pure garbage.
Does anyone have satellite image access to see if there has been any movement in and around the Tai prospect area?
Interesting... lets hope there is a positive reason behind it. Perhaps we have subdivided ourselves and now have a subsiduary company that owns a drill rig and outsources drilling services to other exploration companies as a side hustle when we arent utilizing the rig as a means of funding our next exploration activities
You'd best remember your login details to your trading account muscles - you will need them in a couple of weeks time. If you retain any investment past your breakeven point your'e a hypocite
Somebody else emailed and the broker said the rig was no longer available.
At the price advertised ($2.8m) then given what future drilling costs will cost us and ehat we are paying for upgrades and audits then a purxhase makes total sense or at least writing an option to purchase into the contract to use it at Tai
Its like having a car inspected by a profesional driver (Mike Williams) then having the manufacturer come out and update the Engine management systems, then all the electrics tested, fuses pulled - replaced and certified.
Then stripping the engine and rebuilding with all new parts ( mud pumps, drive engines). Then a thorough test drive to the limits (mast up and running) and ONLY then putting it in for its MOT ( the audit) the final inspection and box tick.
My brother owns an MOT garage btw ?? so I know a bit about cars
ART123,
Pipe down you absolute waste of space, you've popped you head up to drive the price down because you've missed the boat. Thats 12% you'd have gained had you had the guts to buy in already.
Todays interview was everything I needed to hear after the 6 weeks of no news. Its taking time, iys complex but its happening and work is ongoing. All we needed to hear
We were told about a rig inspection on the texas rig a few months back, then silence for weeks
Next update was this east africa rig inspection. 6 weeks has elapsed now. No drill contract signed.
Even if minor repairs were necessary. The suitability and condition of the rig would now be established.
Licenses due in 2 months time
Share price in the 7-8p range.
Potentially 9 months to wait if we can't drill til next year and it will be necessary to raise capital to do so then.
Ive got a feeling we are screwed.
Back to the IPO price because in 2 years we have shot some seismic and drilled 1 hole with an unsuitable rig for £15 million
I wouldnt be surprised if our licenses werent revoked by the Tanzanian government.
Why on earth didnt they release the seismic results and share price catalysts as promised, raised a further £15 million at 15p or so and paid the right money to get a meaninful 2-3 hole program with a reputable drill company such as Exalo.
Instead we have been scrap yard hunting trying to piece it all together.
The ONE ****ing thing they messed up last year was drill choice and here we are in July nearly none the wiser, teetering on the edge of project failure for making the same mistake twice.
Im sorry but those saying just relax, have patience etc obviously havnt held a significant holding since last year and been through it all.
I feel Helium one have neglected their shareholders this year and if the drill doesnt come off then I definitely call for a shake-up of the board, sad thing is it will probably be too late
Ricky owns 6 shares, have seen you post about 3 times.
DD - thanks for the advice, you're right I should sell up
I dont believe the macro market news is influencing any decision to release the drill plans. They have tenders out for all sorts of equipment that depend on the rig. As soon as that rig is ready and signed then they will want to get on asap to get the rest of the program to go smoothly.
Thats a big IF confirming the rig is good and tbe
Tomorrow is the last day of Q2, exactly 3 months later than the promised when, where, why and who with by the end of Q1.
I hope they have an announcement to make tomorrow or Friday.. the start of Q3.
We are all worn our from worrying and waiting to see if anything at happens this year at all.
Im counting on rig news before mid July with mobilization almost immediately
I'd love them to redrill Tai-1 and a shallow drill in the new lakebed closure. 1.5 drills in effect.
Definitely, the casing tapers with depth but to potentially start with 24" at surface tbe conventional rig means over 1300m we will still have a huge bore at the Karoo.
The mineral rig was down to 4" or was it less ? It just wasnt workable.