Member Info for Blubay

There is literally a commercial producing helium field next door and these test results demonstrate the potential to match it, and scale up

That’s really good news, better than expected gas flow results from the first drill at J-31, and confirming the better than originally tested results from the discovery well S-16. Red Rocks was always the local benchmark and with a bit of luck the project will match it.

No descent posts, only ascent posts 🤣

This kind of in country PR tone also really useful in keeping the government on side, good for the company but good for TZ etc

Are you topping up every day?

The family trust buyer has been increasing holding in tranches. The Peel Hunt buying is interesting, assuming they’re holding them not shorting. Definitely feels like something is moving

Sure it is dilara, and if that was ever likely you'd be first back on the morning of the raise telling everyone not to buy until the SP drops below the placing price, and then some other kind of FUD the week after. Agree the market is waiting to know how the $100m Rukwa project will be financed, and at what projected return on investment, but you can be 100% sure that it's never going to be financed by a general share placement unless the SP rises multiples higher than it is now before then.

Africa is a big place but I'm familiar with the region thanks.

This is nonsense Toffers, you're off on another imaginary anxiety scenario for which there is no need or urgency in reality.

That's not how it works Toffers. Yes, the government have the whip hand but there may be considerable scope for negotiation on all but the statutory conditions of shared equity etc. and the government can't just "signal they are open to offers from elsewhere".

Toffers - "they do need to signal acceptance asap, so I would ideally hope it will come this next Monday latest."

No they don't. They need to negotiate terms of acceptance that achieve the best deal for the company, however long that takes, and I'd be surprised if it was Monday.

I suppose it's possible to invent FUD out of anything, but anyone who tries to tell you a company can skip due diligence and contract negotiation on a multi million dollar licencing deal is pulling your leg. It's not likely to take months to agree a deal but it's more likely to take weeks than days. They've had a week, which is a decent head start but I would have thought news from Colorado would come first.

Crypt - “You need to pick a side”

No you don’t. It’s not a football match.

Nic - it’s fine to call out “baseless pessimism” but you need to avoid baseless optimism. You can’t really say there’s a “gusher” based on the EWT results at ITW1. They’ve already said the commercialisation model relies on artificial lift and a large number of wells, so it’s part of the plan not an added bonus. If that model is proven up to work then it will be a significant commercial project, which is what we’re all hoping for. And given the huge size of the licence area maybe there will be some other gas reservoir options for future extraction too. One step at a time 😊

I think they might skip the intermediate news for the second well and just RNS the TD, or just combine the 31 test results with an update on whatever stage 4 is at.

Long time poster here under another name

I don’t see the point in attacking people you don’t agree with on a discussion board. If you disagree then just discuss it, explain the point. You believe the y company/government will release information that is multiples more bullish than what’s released so far (which I think is already positive). I’m just hoping to understand what you ‘re hoping for? Bigger reserves, faster flows, free gas, etc? It’s a question not a criticism.

I honestly don’t understand why personal abuse is needed to defend an unsubstantiated opinion on a chat board. We all know the discovery has commercial potential, subject to investment in appraisal and development work, because that’s already public knowledge. We all know the parameters of the ITW-1 discovery well test and the overall project cost and the number of wells needed to justify that investment. What do you believe the company is hiding? Do you believe in a better than previously published NAV (seems possible) or better than published flow rates (why?) or wells with no water or cheaper than expected costs? What’s the evidential basis for extrapolating beyond the published information?

Relax, everyone has a different opinion which is fine. If you believe the company’s hiding better news than they’ve published that’s fine. If Herbie believes they’re hiding worse news than they’ve published that’s fine too. Any guesswork beyond what’s been published is just what it is, opinion. I suspect the market will just wait for the evidence.

Best - “all the evidence of he1 becoming a big player in the helium industry has been released by rns”

I’m as positive as anyone else about the company’s future development but “all the evidence” has certainly not been released by RNS.