The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I remember in the AGM Ian Stalker saying that the growth, and improved quality in the team, would enable more professional decisions to be made in the future.
At the time I saw that as a bit of a dig at David Minchin - so who knows.
What with only 1.5% of the population deciding to have the covid 19 vaccination fully expecting Tanzania to be added to the UK government's travel red list in the very near future.
Unfortunately this will adversely affect HE1's share price.
The presentation includes details of planned exploration activity in 2022, including the following:
Deep Targets
· 2D seismic Q4: 2021
· Additional seismic planned for elsewhere in Rukwa as well as Eyasi and Balangida: Q2/Q3 2022
· Target drilling with conventional rig: Q3/Q4 2022
Shallow Targets
· ERT/MT survey to identify gas filled reservoirs near surface: Q4 2021 / Q1 2022
· Target drilling with lightweight rig: Q1/Q2 2022
Nice simple RNS outlining the plan for the next 14 months.
Well I have added today.
My gut feeling is that this is the low.
I agree with SeagullsFan's last post.
A two prong attack would seem to be a good strategy.
Going for the shallow targets first, with a cheap drilling rig, I think makes sense.
Having said that they went for the cheap option at Ta-1
Helium One said it was a prudent spend, but it wasn't.
Ta-1 may have provided valuable data but it didn't give us "proven or identified" gas.
The more prudent option would have been to go with a bigger rig.
Helium One seem to have recognised/learnt their mistake and next time they will use the correct, expensive, equipment for the deep drills.
Shallow and deep drills - good not to have all your eggs in one basket.
I have a lot of my eggs in this HE 1 basket.