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Obviously, it would be foolish to rule out any future share placements to raise capital for new projects and further development plans because that's the only reason companies list on AIM, to raise capital. That's a good thing, no capital, no development, no increased share value, no future. What matters is what capital raises are for, how they're spent and what value return they generate. Capital raises for commercial return on investment are very different to capital raises for everyday non-productive working expenses, for example.

For the hundredth time, watch the AGM and listen to the Q&A session at the end. The Board could not be more clear about this. There is no placement planned, all existing operational plans are fully funded, they have cash for 12 months, there will not be any placement in Q1 whatever happens, the Board has no authority to conduct a share placement, because it has given up its authority to issue new shares until it goes back to shareholders for that prior authority.

Iangibbins67gmai - "the only reason iam not invested is because a rise is normally followed by a raise"

if you'd attended the AGM then you'd know that any raise has been ruled out for Q1 and that the Board currently has no authority to issue any new shares until they go back to shareholders to renew that authority. So, if that's the only thing stopping you then maybe check on this.

You don't need a 'leak' to know that drilling the first new commercial production well in Colorado is scheduled for this week. As usual with exploration companies trading picks up running into the spud date. No reason to assume more than what we already know really. Good news if they're on track and no further delays.

Definitely leaky or rumour mill today

There hasn't been any meat in this for traders for a while now. Let's see how many of our leveraged short friends come back to P&D for the spud...

Rumour mill is turning...

Oops, someone mistyped a decimal place. About the most exciting development here for a while 😉

11-Feb-25 08:25:01 5.00 7,500

11-Feb-25 08:25:01 5.00 -75,000

11-Feb-25 08:25:01 5.00 75,000

That’s a recurrent problem with HL, there are 6.3bn shares in issue, there’s never a shortage 😂

There’s no way of knowing, other than inside info or watching the share price for leaks. The company will be doing all they can to mitigate further delays or cost burn on their side, keeping the rig and local relationships warm, preparing service tenders, finalising the plant specs, financial discussions, etc. How long the licence takes is up to the government, any other significant stakeholders, and politics. Best case scenario, the company is kept fully informed and is prepping for a quick startup. Worst case, there’s malign influence or pressure holding it up. Most likely case, this is just the way things go in exploration and most things take a little longer than you hope for. Completing the licensing and commissioning phase by end March as planned isn’t out of the question, although it will be getting tight. But until they actually commit any funds to Rukwa development the timeline doesn’t make much difference. Getting Colorado on stream is more important for the moment.

Thanks for your public service, but you’ve been spreading false rumours about imminent share placements and bankruptcies on multiple shares for years! 😂

Considering the delays, the SP has remained remarkably stable in its trading pattern converging around 0.9p

I don’t think this relates directly to HE1’s latest EOI tender (closing date 15 January)

"No profit for me and my pension pot won't accept chakra as currency"

I hope you're not relying on AIM exploration penny shares for your pension pot?

Trying to predict share price simply on award of ML seems pointless without context. It would positive in removing an element of uncertainty but in terms of company revaluation what matters is a reliable estimate of recoverable resources versus funding options.

“Im just waiting to be able to get my £5K back out of here which im now stuck in at 0.94”

No one is ever ‘stuck’ in a share. You’re free to buy or sell at any time. Sticking solely in hope of recovering losses is just gambling not investing. Invest if you believe it’s going up in your timescale, sell if you believe it’s going down.

Progress in Colorado is more important at the moment. That’s where the company’s near term investment and return risk is.

You're completely misunderstanding how mcap is valued on the market. First, we don't know what the NAV of the potential resource in the ground is, let alone the value of the recoverable reserves, or the profit to be made from it. If the recoverable reserves were worth $100m but cost $100m to recover then the company could be worth near zero on a commercial basis. Clearly that's not the case and we know there is a likelihood of surplus revenue from both Colorado and Rukwa, but we don't know how much at this point, or what HE1's share of any profit would be. In this situation the uncertainty leads to a conservative valuation of shares on the market. The mcap is simply what the market decides the shares are worth, it's not an actuarial asset valuation.

Unfortunately, delays of one kind and another are just part and parcel of O&G exploration, goes with the territory and why small cap exploration companies remain among the most risky of investments. That’s why Colorado is more important just now because it offers the company a source of near term cash flow. There isn’t much cost commitment riding on Rukwa start date yet, other than extending licence fees and rig maintenance, but I’m sure they’re keen to hit the ground as soon after the rains as possible.

“ at the mo.ment it is £0.00875p just over half penny value. If that makes sense.”

On any manner of rounding, 0.875 is not “just over half”