Member Info for Blubay

Toffers - you’ve invented a concern in your imagination that does not exist in reality. There is no need for lawyers or the company to clarify. All is going to plan.

No, there is no need for that Toffers. It’s all a normal part of the process.

It’s not the date HE1 submitted their application, it’s the date the application entered formally to the licensing system. The biggest obstacle was always going to be the ESIA, and the ML process can’t start without that certificate and prior checks on suitability/feasibility.

My only observation is that the ML is recorded as an application to mine “Natural gas”, whereas the PLs are for “Helium” (as there are no hydrocarbons present I’ll assume that’s a clerical error or proxy database categorisation, as no-one’s ever processed a helium ML before).

Good spot, thanks for checking

IG - "At this stage HE1 has zero proven commercial "reserves" in Tanzania otherwise that would of been announced to the market?"

Yes and no. To be precise, HE1 has no 'independently' proven reserves in Tanzania. But it has already announced to the market that...

"Economic and subsurface modelling by the Company demonstrates positive economics with artificial lift, and what is anticipated to be in the region of twenty to thirty development wells in the production phase. The data collated and evaluated by the Company's subsurface team, was integrated into a feasibility study, which was submitted with the ML application, and demonstrates to the Mining Commission of Tanzania the viability of the southern Rukwa Helium Project."

Yeah, it's a UK depositary interest (DI) in an underlying foreign security

"At 30 June 2024, the Group consists of the following subsidiaries:

Black Swan Resources Limited BVI BVI 100% 100% Holding

Helium One (Stahamili) Limited Tanzania Tanzania Nil 100% Helium Exploration

Helium One (Njozi) Limited Tanzania Tanzania Nil 100% Helium Exploration

Helium One (Gogota) Limited Tanzania Tanzania Nil 100% Helium Exploration

Helium One Holdings Limited Mauritius Mauritius 100% 100% Holding

Helium One Treasury Limited BVI BVI 100% 100% Holding

Helium One (UK) Limited UK UK Nil 100% Administration Services

Northcote Energy Limited Cayman Cayman Nil 100% Holding

Northcote Energy USA Inc USA USA Nil 100% Dormant

East Africa Holdings Limited UK UK 100% 100% Dormant

Tunduizi Tanzania Limited Tanzania Tanzania Nil 100% Helium Exploration "

Then there's holding companies in the mix, but it's all listed in the annual report

Or rather, moved to BVI along with HE1 Global. So the "Group" includes...

HE1 Global - Black Swan - Helium One (Stahamili), Helium One (Gogota), Helium One (Njozi)

DI just refers to common stock. I think the "Helium One Group" dates back to the acquisition of Attis by Helium One Treasury prior to AIM listing. Helium One Global was the parent company with investment from Helium One Treasury and CIT Ventures, with Black Swan Resources (dissolved) holding 99% of five Tanzanian subsidiary companies (now three) with HE1 Global holding the other 1%... I think

Why?

Goodness, the price premium to buy that quantity on the market is certainly telling

WKW - you do understand that Jackson-31 is not an exploration well?

I think you’re misrepresenting the nature of the risk mitigation Daze, but you will know that. The risk mitigation of Colorado is not against Rukwa being non-commercial (we already know it has commercial potential as a large scale development project). The risk mitigation is about timescale. The company’s key objective was to move into production in 2025. Originally, Minchin’s shallow Tai drills were targeting a small scale project for six production wells in 2025. LB’s discovery of the fractured basement system presents a larger scale and longer term project, which is challenging for a small cap start up. Colorado fills that gap and presents a much more realistic early revenue project. At least that’s how I see it.

Short trolls on these kind of message boards aren’t short selling shares they’re usually just working a spreadbet or CFD with leverage

I’m not sure why you’d need ChatGPT to conclude that

Do you mean a million cubic feet of raw gas a day, rather than a million cubic feet of helium? The helium is 1.9% of the gas at State-16.

No problem cementing below ground as temperature constant, hopefully a straightforward vertical drill from here 🤞 7” conductor from 38 to 1033 ft then 6.125” open hole to TD

I think you’d have problems trying to set cement at surface level for the well head and initial few feet in those severe conditions.