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“Do we know if they have done or are working on independently confirmed reserve estimates (CPR)”

CEO said that was the plan in a recent interview

On the flip side, they have zero debt and probably $10-15m in cash, to complete a near term development plan to bring gas to market in the US early next year (subject to pending permits, contract and drilling risks). The bigger question is whether they have sufficient recoverable reserves in Rukwa to attract a major off taker, or leverage banking finance, which I don’t think they’re going to tell us until they have a CPR.

It’s not often you see a chairman put up £250k at the offer price, let’s hope we see that here next time around 😉

It’s as daft a statement as stating there’s one coming every day for the last few weeks

I’ve just done the same waiting for a bargain basement AIM placement that’s gone largely under the radar (RDT) but I feel HE1 has been through that bottoming out process this year, and I’m less worried a punitive dilution here as I think the SP will be lot higher before it happens.

It’s not a bad trading strategy for AIM (I’m sure many of us don’t) but I’m not sure the odds are sufficiently stacked to waste time preying on it on HE1 at the moment. I can’t see them raiding before Q1 2025. The Colorado cash is all in the bank ($10m) as well as 6-9 months working capital. Most of the project development budget will be spent in small tranches $0.5m per drill) so while it’s committed expenditure it’s still cash on the balance sheet. As you say, if there’s a major SP news boost they might choose to capitalise on it, which makes good business sense if no alternative. Can’t see that happening this year though.

MF can’t publish any categorical investment advice so it’s almost always click bait headlines followed by fairly meaningless equivocation. The overall gist seems fair enough though but lacks insight and context. The company is approaching an inflection point where its investment profile could change significantly, if things go to plan. Plenty of risks remaining but far closer than they’ve ever been to turning the corner. The key factor will be when they can explore finance alternatives to the typical AIM placement (debt, forward sales, convertible notes, SPV/JV etc). For that they need independently confirmed reserve estimates (CPR etc). But the Colorado drill permits next week, the acquisition deal end of month, the Rukwa mining licence should all boost market confidence at each stage.

What do you think is going to happen next week Herbie?

Three weeks? Why?

Hopefully the news from Colorado will give a big boost before then, decision pending on drill permits before end of next week, then conclusion of the project acquisition if all goes well, to coincide with end of month appearance at US helium summit (or the day after).

This is just magical thinking. It's a mining licence application for a major strategic investment with an ESIA that covers 20-30 wells, gathering pipelines, a production plant, road building and a water management plan. Why do you think it will take half the normal average time to award?

They will already know the board from past experience and their lawyers will have done DD on the voting members (e.g. current chair is an environmental/wildlife biologist, commissioners are very mixed between O&G, planning, health, environmental). They have 20 minutes to present with Q&A

https://ecmc.state.co.us/about.html#/commissioners

Greg - "will this news be good or bad"

Balance of probabilities, are ENL likely get their drill plan approved by the ECMC on Wednesday? On the plus side, it's in a producing helium field with other adjacent developers and infrastructure. They already have three development wells there and no previous issues with their prospecting plans. Helium wells are also low environmental impact compared to hydrocarbons. On the other hand, there's a lot of CO2. Provided there's a plan to capture and commercialise that rather than vent it I can't imagine many environmental objections. Always possible there are wildcard NIMBY objections but it's not a heavily populated area and precedent for approval seems clear enough. Never say never but it would be very unlikely they'd be turned down. In the unlikely event then HE1 don't conclude the acquisition and then have several spare millions of cash in the bank to see them through. Odds wise, I'm thinking good news.

Less than -5% movement in a month with no news and you're predicting -50% in a week with news?

What's posted on here is irrelevant. Why do you think the SP is going to halve in value this week when news is imminent?

And your opinion is based on what exactly?

Https://dailynews.co.tz/tanzania-announces-oil-gas-licensing-rounds/

JC, he says he has 7 million shares (currently valued at a penny).

Sorry, I don’t get it. You believe in it but you think it’s done and finished? You’re invested but you don’t think it’s investable? I’m struggling to understand the logic.

It’s a reasonable question. Why are you £70k invested in a company with a sinking share price that you believe is finished, based on your extensive expertise (and having lost £14k or so on paper this month) Presumably, you believe thus will turn a rapid short term trading profit to make it worthwhile, sell on news etc? What’s the plan?