focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
You really are a de-ramper, aren't you? ART123. Either get on board or please jog along. Checking out the rig was an obvious thing to do, it was the subject of a legal problem, when that was resolved it was up for sale. Do your own research instead of asking de-ramping questions.
ART123. They are funded for the drilling but may need extra for a second well (and will need extra funds if and when a discovery is made). This is already in the public domain, here:
'The company is fully funded for the planned well, following a £10mln fundraise in December last year, and there may even be enough for a second well, depending on outcomes.' - Lorna Blaise (20/07/2023). Please do you own research and stop scaremongering to get the sp down so you can buy in.
1.
The Masked Stock Trader
@ProAIMTrader
#HE1
I've been on the phone all afternoon with people who were either at the roadshow in the city this morning, or with people who know people who were there:
Main points:
- There's no plan to raise fresh equity before any discovery.
-Loads of PR being set up for August.
2.
The Masked Stock Trader
@ProAIMTrader
·
2h
#HE1
The trucks for the drill rig are now on-site and being unloaded.
They're planning on spudding very late August/early September.
Drill team expected to be finalised in the next week or so.
Drilling pad is all poured ahead of schedule and curing.
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#HE1
The final long lead items are on-site.
The camp is all sorted and the firm are working very closely with the government re. logistics.
They reckon one well should take ~2 weeks to drill and one week to appraise on a discovery.
Blastoid7. I don't use tea leaves I'm afraid but I do use the Moon, Mercury, Jupiter and Uranus as they are often indicators that something is afoot and so far they are proving correct on all three. Tomorrow looks auspicious for something but that could actually be unconnected. We shall see.
Too, in Rukwa, although Tai has consistently been identified as the lowest geological risk and highest chance of success. Nevertheless, the titillating prospect remains that there could be even more helium under licence at Rukwa than even the competent person’s report modelled.
But one thing at a time.
The key is to get cracking at Tai-C, and see how things develop from there.
If a discovery is made, investor interest is likely to be huge and the potential for a re-rating very high.
After all, the global demand for helium is at an all-time high, and Helium One is the primary helium explorer in Tanzania. Almost all the other helium that gets produced is produced as a by-product of hydrocarbons.
And if a discovery is made, how long would it take to move it to production?
The answer is: not too long. Tanzania has been a reasonably benign jurisdiction to operate in as far as Helium One is concerned, and the government is keen to secure a strategic position for the country as one of the major players in helium production.
So, changing Helium One’s exploration licence to a production licence is reckoned to be a relatively straightforward process.
Production, says Blaisse, could come as soon as 18 months after a discovery.
So this is a company that could get very big, very quickly. Watch this space
Helium One will shortly be drilling at Rukwa, and this time with its own, specialist rig
by Alastair Ford
Shares in Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) jumped by not far short of 100% early in July after the company announced the acquisition of a drill rig.
Ownership of the rig will allow the company it to set its own terms when it comes to drilling the potential huge Rukwa project in Tanzania later this year.
“Everybody recognised the challenges we faced in Tanzania getting an oil and gas type drilling rig,” says Lorna Blaisse, who was appointed chief executive of the company in February.
The rig is due to arrive at site shortly, and the expectation is that the Tai-C well will be drilled in September.
The most obvious difference between this rig and a mining rig that was used before is that it is much more powerful.
Mining rigs are primarily designed to bring up core from large ore bodies in competent rock, which means that the borehole diameter is a much slimmer design. Conventional oil and gas wells are drilled with a wider borehole diameter, as they typically drill through softer rock, and a larger hole diameter is required to improve wellbore stability.
The new Helium One-owned rig will drill the target reservoir section in standard 8.5inch hole, as opposed to the 3.5inch hole drilled in the previous round of drilling. It is a larger rig with a top drive system and, can therefore drill more efficiently.
The new rig is capable of drilling down to depths of between 2,000-metres and -2,400 metres, although the Tai prospect that Helium One is aiming for is reckoned to sit at around 1,200 metres.
The plan is to spend 30 days drilling, including logging and down-hole sampling, and then to wrap it up and assess the results.
All told, the results are likely to be far more conclusive.That will make a nice contrast to the earlier round of drilling, which lingered on for months as the company grappled with various issues associated with the mining rig it was using.
That work includes upgrading access roads and placing a camp close to the wellsite. But it won’t take long.
The company is fully funded for the planned well, following a £10mln fundraise in December last year, and there may even be enough for a second well, depending on outcomes.
“The Tai-1/-1A well was very encouraging, although we weren’t able to reach our total depth nor run a full set of wireline logs. We did have shows, but unless you’ve got wireline log data to determine pay zones, then you’ve no way of quantifying your results
The expectation is that this time round the drilling work will be far more definitive.
And if, as Blaisse hopes, Helium One does make a discovery, the potential scale is likely to be very significant.
At the end of May a competent person’s report reckoned that there might be as much as 2.8bn cubic feet of helium at Tai alone, an amount that equates to around half of the current global demand.
There are other prospects
Daily Mail:
Helium One, which is looking for helium in Tanzania, will drill a proof-of-concept well by the end of the third quarter of this year. If successful, and if Helium One goes on to prove up what it thinks it's got at its Rukwa project, the company could become one of the world's major suppliers. Expect action in the share price as drilling gets underway.
https://www.dailymail.co.uk/money/investing/article-12307541/SMALL-CAP-IDEA-Lassonde-Curve-predict-future-behaviour-mining-stocks.html
'...the Company will order remaining well control equipment, await the arrival of drill pipe and source an experienced crew. The Company has already mobilised drill bits, wellheads and casing to site at Rukwa.'
Half-of-2. 'Long lead items such as drill bits, bottom hole assemblies, casing and drill pipe that the Company had already purchased for the Drillmec HH102 rig are compatible with the Epiroc Predator 220 rig, and this will keep additional cost spend to a minimum. Some of this equipment has already been mobilised to site in anticipation of the forthcoming operations.'
It's not so much as accuracy from Zak but a possibility, so he's not saying it will go to 14p-15p by month end but it's a possibility according to the chart as he sees it. It's interesting and sometimes he is spot on, sometimes not, other factors can come into play. No one expected this to double so quickly but then no one expected the company to buy a rig!
What does this mean for drilling? They can do a series of drills instead of the 'one trick pony' so many oilers have to play with. I think once the crew are together they will announce a drilling campaign, they have so many prospects it's eye-watering. This is likely to cause a fair amount of top slicing which is a good thing as it prevents heady spikes until the helium flows.
'...as high as 14por 15p by the end of this month.'
At about 7mins 23 secs
https://www.youtube.com/watch?v=agPEkflUVug&t=497s