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Or here's a map https://ibb.co/QrLZbjB

In case anyone wants to see where the current two development well pads are (Jackson-31 and Jackson-4) and where the next three will be (Jackson, 2, 27, 29), here are the co-ordinates. You can just paste those into Google maps for a pin location, or search in satellite imagery sites

Jackson 31 37.388810, -103.505083

Jackson 04 37.377860, -103.480773

Jackson 02 37.377597, -103.443727

Jackson 27 37.397895, -103.447426

Jackson 29 37.403592, -103.490913

I think that's likely now, as spud should be underway at Jackson-31, and there appears to be activity on the Jackson-04 pad just down the road, so they should progress quickly from one to the other in days, then update the market and announce a drilling schedule for Jackson-2, 27 and 29 (if all goes according to plan on the first two).

Weather has been fine latter part of the week and there was new equipment visible on the pad by Wednesday.

More equipment and movement on the Colorado drill pad yesterday for a weekend spud?

https://apps.sentinel-hub.com/eo-browser/?zoom=16&lat=37.38797&lng=-103.51005&themeId=DEFAULT-THEME&visualizationUrl=U2FsdGVkX1%2B21PA92pEcWGN7hyD9vRMo42VhZF8CJwV36RznJe5drwXw0t%2BvZP5UWFHKTPOcxI0jdyEu%2Fiqr0%2FYMuKEgwoNQ1%2BJiu9Ixb4pVAMiEkwL0jb6gORf%2FdKkV&datasetId=S2L2A&fromTime=2025-01-24T00%3A00%3A00.000Z&toTime=2025-01-24T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22

Fantastic opportunity today, available at 3p on the opening and up 40%

There are more than six billion shares in issue. There is no shortage of shares. No one is "trying to get your shares".

Madman - listen to the AGM presentation and questions, that's the most recent public summary of the project. The proposal is for 25-30 development wells and a modular processing plant, selling gas to off takers at source (who would transport to their markets). The capex cost of the proposal, including the wells and plant, is in the region of $75-100m financed by project funding not company funding. That would entail negotiation between a consortium of banks/partners and the new company established by HE1 to operate the project, through some combination of debt and equity split. Their aim is to secure project finance via the least dilutive mechanism and no share placement in HE1 is currently proposed, although obviously no one is going to rule that out as a component in the mix.

They are not "trying to get your shares". You're long and they're short, you're betting on it going up, they're betting on it going down, that's about all there is to it.

More direct link to relevant imagery from yesterday

https://apps.sentinel-hub.com/eo-browser/?zoom=16&lat=37.38739&lng=-103.51235&themeId=DEFAULT-THEME&visualizationUrl=U2FsdGVkX19RmCeS1dWiqOFADRQZq%2FhaRvxWLzRb5IVXvD50D0p8I%2BUPVAzKGKJxfJxtQeX97GERiyOc3p%2F6OAhS%2BHSiJMrwZPB%2F2RzFNBTVtNeQtytAo0XHRj7Jo36S&datasetId=S2L2A&fromTime=2025-01-22T00%3A00%3A00.000Z&toTime=2025-01-22T23%3A59%3A59.999Z&layerId=2_TONEMAPPED_NATURAL_COLOR&demSource3D=%22MAPZEN%22

Still pretty snowy conditions in Colorado but temperatures back up today and it looks like the roadways are clear and equipment is on the drill pad

https://apps.sentinel-hub.com/eo-browser/?zoom=16&lat=37.38739&lng=-103.51235

Coffee break shares

And yet the FTSE has ticked up to all time highs, along with European and US markets booming? I'm very positive about HE1 but if you're relying on penny AIM shares as you're "only hope" then you really need to take better investment advice.

It's probably worth noting, coincidentally, that Walkers BVI primary skill set is advising in corporate finance, including asset and project finance, and in joint ventures and mergers... ;-)

Seems the same people who panic about fears of cash burn are the same people who panic when the company makes sensible cash savings.

That’s unlikely. HE1 isn’t a Tanzanian company. The TZ project will be operated by a new TZ company (an SPV) but that won’t be set up until there is a licence. The government will take a stake in that company, along with HE1, and project finance will negotiated between TZ banks and that company. So TIA or a banking consortium will have equity in the project but probably not in HE1 parent company shares (which include other projects outside TZ).

It’s not that simple. The total prospective resource is relevant but what matters commercially is how much is recoverable, at what rate of recovery, and at what profit margin. The resource in Colorado is probably well under 1bcf but fairly easily recoverable. Part of the resource at Rukwa is perhaps endless (hypothetically) but is less easily recoverable. Comparison is complex.

Why would you hold £70k of shares in a company you can ‘prove’ is corrupt and which you believe is going down? Isn’t that a bit bonkers?

There’s been loads of news. There were five RNS in December alone and the last one was only a week ago.

Toffers - you need to refer to the full text of the guidance notes not just the basic summary rules.

https://docs.londonstockexchange.com/sites/default/files/documents/AIM%20Rules%20for%20Companies%20%2801012021%29_1.pdf

Under Rule 11 (d) the company must disclose

"Information that would be likely to lead to a significant movement in the price of its AIM securities includes but is not limited to information which is of a kind which a reasonable investor would be likely to use as part of the basis of his or her investment decisions."

BUT...

(e) "Unless disclosure is required under Article 17 of MAR, an AIM company may delay notifying information under this rule if it is an impending development or a matter in the course of negotiation provided such information is kept confidential. The AIM company must ensure it has in place, in accordance with rule 31, effective procedures and controls designed to ensure the confidentiality of such information to minimise the risk of a leak."