George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
What are you here for ART123 as you never have anything positive to say? I am starting to use the filter facility on those like you who appear to want the sp to fall or want the company to fail. Have a good life but not where I can see you, thanks.
Https://twitter.com/Heliumone1?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Always a good policy to stick to what we have been told by the board and not start harmless little rumours of our own that nevertheless irritate others. LB said spud during the second part of September, so from 16th onwards.
Good luck all!
Foolish not to check out what the CEO has to say before you put your foot in your mouth KevinRound. Obviously, you are not an investor or you would have done the minimum of research and watched the video. Or maybe you have memory loss, if so, maybe it would be wiser to keep shtum and go and make some notes. Have a great bank holiday.
The question of director shareholdings was not answered properly. The board own a pitiful amount and I cannot see any shares held by LB and some of the others so the answer dodged this question. Added to that it sounder more of a trader's answer rather than buying as an investment!
Q27: Why haven't the board bought a significant amount of shares to show they have skin in the game and give confidence to the shareholders and markets?
Answer: All directors on the board have participated in historic raises and will, given personal circumstances, continue to do so in the future. Recent black-out periods have meant that we cannot trade the stock as freely as we would like.
Good post Dobbyy. We are basically proving up an 'unproven discovery' here. The de-rampers and shorters hate that phrase because it removes the fear they live off. Last time logs couldn't be run and bad hole conditions meant there were uncertainties in interpreting reservoir and gas readings quantitatively. But despite this the well did prove a working He1 system.
The well proved the He source, it proved the trap and the seal, there was enough mud logging data to prove reservoir existence and elevated He concentrations of up to 10% demonstrating charge. In other words, Tai is an unproven discovery and internally he1 call it that (the CFO used these words in the recent interview). But in order to be called a discovery officially it must have logs and must have a gas sample.
This is not a wild cat drill and the well is not being drilled as an exploration one which would under normal circumstances be plugged and abandoned. It is an appraisal well being drilled over helium seeps.
The objective of Tai-C is very simple: gather logs and samples to be able to declare a discovery.
The greatest risk is an operational one.
Investors on these boards often have a poor attention span and so do not allow their research to give them a proper risk assessment. Here's an example, hands up all those who know the cost of the rig? We have been told in the presentation as a % of a new rig because the question was asked as a % so it's very easy to work out.
I have made my own risk assessment and have decided the risk in this case is worth the potential reward and so will not be selling at the first whiff of helium. There could still be a spanner in the works but that's the risk I am fully prepared to take.
We are fully funded for this drill and will only need extra cash for further exploration. We also have the ability to earn money from hiring the rig. What's not to like?
DM was rather carefree with his wording and should have known better. HE1 is a much better company now and this well is being drilled, not as an exploration well which would normally be abandoned, but one that can be appraised and tested for production.
https://www.helium-one.com/helium-one-global-gearing-up-for-drilling-at-rukwa/
Listen to Lorna Blaisse and she is extremely careful with her wording. Yet people with no experience seem to think they can do a better job and toss their ideas into the mix. The interviews are all on the website.
Again, thanks to markymar and milo for the following:
'... the well did prove a working He1 system. You've heard the Lorna Blaisse use these words. What that means is that the well proved the He source, it proved the trap and the seal, there was enough mud logging data to prove reservoir existence and elevated He concentrations of up to 10% demonstrating charge. In other words, Tai is an unproven discovery and internally he1 call it that (the CFO used these words in the recent interview). But in order to be called a discovery officially it must have logs and must have a gas sample. With this data Tai can be publicly stated as a discovery and a technical resource assigned; then only subject to commercial flow testing. And after successful flow testing it is upgraded to a proven reserve subject to an economic development plan and source of funds.'
Skittish, why are you calling this an exploration well?
From markymar on the other site.
'Tai is a discovery. But the company can't say that and according to SPE definitions it is still classified as a prospect. This is purely because the quality of the well was so poor that the data gathering objectivies were largely a failure. '
Then listen to what Lorna has to say about this well.
HE1 have bought a rig in a country where there are 22 oil & gas companies undertaking exploration activities for oil and gas in the country. These companies include: BG Group, Statoil, Petrobas and Ophir Energy. Tanzania is becoming a regional hub after flurry of discoveries, it is said to be blessed with over 41.7 trillion cubic feet of gas reserves at the latest estimates.
Lorna Blaisse and the team have produced an absolute ace as it is not easy to for these companies to find suitable rigs so no wonder we have already had a few enquiries from those wishing to hire our rig. I imagine hire prices are at a premium. We own a money spinner.
Why are people starting rumours again? Why on earth would HE1, who are proving up a discovery, want to merge with a company drilling 2 risky wild cats wells? The HE1 board are not mad so can we please stick to the facts we know instead of fiction. Lorna Blaisse is clearly intent on keeping shareholders up to date via photos on Twitter, interviews, a sound presentation and news through the proper channels when it is deemed important enough.
Good post RogerJolly. The scaremongers either do not listen, do not believe LB, have over vivid imaginations or want the sp to fall and are being very sneaky by pretending to be invested here. We have been told we will need extra funds for 'further exploration' and we are probably going to be hiring the drill out as a source of income and already have customers lined up. Please stop ruining the board with posts that are completely unfounded.