Member Info for BC2504

I can’t tell if this post is a joke or not

Haven’t seen anyone else do the same - I emailed the PR firm to ask when the interview was done and they said it was filmed last week. A good chance the 2 weeks referenced in the interview is now only days away!

It was £2m to purchase the rig the information is not hard to find it you wanted to…

As mentioned in the interview he will be still focusing on other companies including other aim listed.

I think he has set up he1 as best as he can with his skill set to drill for helium and it now focusing on braddahead lithium, another aim listed company he and his good friend Jim Mellon are heavily involved in with a first time ceo. They are struggling sp wise and have a big 6 months of projects ahead so maybe he feels he needs to be there full time. Ian has done a great job for us and is clear he’s left on good terms with full faith in the company.

I believe the actual cost of hiring the drill itself was £3.07m when it was costed in the RNS. When you consider it would be a last minute deal I don’t think 4/5m would be unreasonable for noble to pay.

Personally I don’t think we will be hiring out the rig in the short term though as the risk/reward seems rather negligible in a discovery scenario - I think it’s more likely a back up plan if there’s a duster and funding is hard to come by without severe dilution.

Great stuff - I suspect the second well option will only be used if the first one doesn’t hit helium/there’s an issue with the first well. Nice to know they have the option.

There is 0 chance we are using a second rig for our drilling.

It’s been discussed quite a few times now but the cos is higher than 14%. It is 14% per horizon (and 10% for the basement) not 14% for the whole drill.

Thanks Jim… I mean Louis

Now I really wouldn’t want to be out of this over the weekend 😉

People on this board interested in discussing other stocks kindly moved their conversation to the GOLD LSE forum which is a ticker not currently in use so might be a useful place for you to discuss this rather than here!

We will see a rocket but no sell off for production imo. Unlike many companies that get their big discovery then move into production one one asset, he1 have several other targets both in (around 5 other named targets if i remember correctly) and out of rukwa (eyasi and balangida) which will be strong catalysts for future share price growth. For what it’s worth I fully expect them to make a discovery at tai, prove this up with more holes next year and then sell rukwa off to one of the large global players who have the money and expertise to monetise it.

Look back in the threads if you can find it and you’ll see some dcf modelling by josh from the telegram chat to show fair value of a single discovery could be worth 104p minimum! Of course if we end up doing multiple drills this year/noble also hit further derisking the basin/hype who knows how high it could go!

Ahh okay thanks guys thats a shame!

AEX another Tanzanian company today released an RNS today discussing future wells (sounds like 2024) with this rather interesting nugget - “A further announcement on drilling rig arrangements and timings will be made in due course.”

It would make a lot of sense for them to rent the rig from HE1 with cheaper mob costs for them and an easy + quick transport/return for us. Maybe rent it out to them early ‘24 whilst we’re blitzing out seismic and prep work for our own campaign which would be nicely subsidised by them.

Not invested in AEX but am invested in HE1, another company drilling in Tanzania. Am I correct that AEX do not have a rig sorted for their well yet? He1 have just bought a drilling rig and announced this week so I am assuming they will be in contact with each other about lending this out. Hopefully would be beneficial for both companies!

We had quite a bit of discussion about this before but it’s not as easy to work out as you might expect. There are 5 horizons given at 14% (iirc) and 1 horizon at 10%. To get the cumulative COS you can do .86 (chance of failure at each interval) x .86 x .86 x .86 x .86 x .9 which makes a 42.3% chance of failure (aka. 57.7% chance of success). Of course it’s not as simple as this because the horizons are intrinsically linked and not fully independent so it’s all a bit of a guessing game but the team have put a lot of work in to derisking this drill as much as possible and I think they have a good chance!

10000 comments and I’ve never seen one positive.

Great potential ahead!

I’m getting a sense that Louis might not be your real name? A hunch that it could be Jim maybe?