The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Sorry coco where have you seen it cost them £1m wasted on other rigs or have you just made that up? I think if you read the annual reports you will see a $100k loss associated with another rig and nothing else?
Remember that noble saw 3x background but then have wirelined 5%. I believe the discrepancy has to do with the drilling mud but I’m sure someone with better knowledge can explain in more detail!
In my mind the RNS made it clear we are not getting an update by saying an update in due course rather than after we start drilling/TD etc.
Unsure why people were expecting anything today, and I doubt a tweet is coming either imo.
Funny you're talking about RJ having blind optimism and faith about being rewarded but surely you are in the same boat or else the prudent thing would be to sell out at the loss you currently have for not wanting to put blind hope on a gain in SP to get your money back?
I don't think we get an RNS until wirelining has at least partially been completed. If you read the wording of the RNS they say about updating the market in 'due course' whereas before they specified we would get updates when they started drilling/reached TD.
As per the issues in Qatar etc. they would not be able to readily increase demand to meet supply issues. They would have to double methane output to double helium output (not very realistic as the infrastructure will not be present to double the gas extraction rate on a whim just to get some extra helium). Pure-play helium producers do not have this issue to the same extent.
Appears it has had no difference on our SP, especially after the clarification RNS. The good thing about Noble is their trap type is different to ours so the negative implications of them hitting is not too relevant on either tai or itumbula (although we do have similar targets). However, the positive implications of confirmed helium on their licences at least let us know that the system is full of gaseous gold which puts us in a good position!
3rd time - have heard recently that contracts north of $500 are in place but will use $450 as this is what the company has stated in relatively recent communications.
As per the CPR. the 2U value for Tai is $1.26b (2.8bcf) and the 3U is $3.2b (7.1bcf).
These used a helium concentration of around 1.1% from memory. If you increase this to the 2.2% seen last time these values double, if you get anywhere close to some of the seeps seen (even the 'modest' ones at 3-4%) we start to see an eye-watering value for tai.
There is also potential that the Karoo may be increased dramatically in size due to the increase TD of the well but that's largely speculation at this point so I'll leave it out of any calculations as it would be pure guesswork but something that could factor in too.
As I said last week the amount of rain Rukwa receives in November and into December is barely above what we have received in the UK for October. Consider also the region has been in the dry season so it will take a lot of rain to saturate the ground before it becomes an issue too.
Who's footing the bill - shareholders are with the additional runway funds from the latest raise. What do we get in return? A chance to make a multi-billion pound discovery for the sake of a relatively small additional sum of money. Have been replying to you previously assuming you're discussing (largely reasonable) potential negatives of the project in good faith Joe but I gotta say on this one give it a rest bud this is just a silly point.
Hi Joe,
I'm afraid whoever has told you that is incorrect. As per the RNS dated 12/07/21, investors were informed that an issue with the drill had occurred and a side track had been commenced after a period of time where they attempted to recover the pipe.