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The revised schedule doesn’t affect the drilling ops directly as the HE1 acquisition isn’t due until end of October, and that’s the funding for it

Are they reviewing your abusive posts also?

Could you perhaps just take a day off and spare us all from the incessant ramping?

Check the recent RNS titled acquisition. You’ll find details of near term revenue planning there for early 2025. The Rukwa project is larger scale but potentially longer term, so possibly but less likely late 2025, could be later and scale as yet unknown, pending further news.

Positions starting to close now

Missed the 0.8 target price and squeaky bum time if it tops 1p

It’s really not likely. Best to think on the timescale the company have already advised, otherwise you’ll end up in another fictional news expectation with a pump and dump. They expect it to be in the region of three months based on similar recent applications. There is no reason why HE1 would be given any special treatment. It’s Africa, you don’t get past first base unless you develop your relationships in advance. They don’t have a special friendship with the minister or local officials, they just do what everyone else does and flatter them as much as possible.

“Im saying the concentration of HE in the water is not commercially viable”

And the company says it is commercially viable with a 20-30 well project.

The board appears to be in radio silence mode, no interviews, no statements, no social media, not a peep. That suggests more news is coming.

You don’t need a conspiracy theory to explain it. No need for a hidden investor. They simply took the quick opportunity to capitalise on the anticipatory rise in share price. That’s a good business decision rather than allowing it to just sell on news.

Where do you expect to find a helium exploration company that doesn’t raise funds to explore? If you want a mature well capitalised revenue generating business with dividends then get off AIM altogether.

I don’t see it that way Dazes. The difference is that the Rukwa project has turned out to be a much larger and longer term undertaking than originally conceptualised. They were hoping to develop it with half a dozen wells and a modular processing unit. It’s going to need 20-30 wells and bigger infrastructure. That doesn’t make it uncommercial but it puts it into another league. They are much better off capitalising on one or two quick win, six hole projects in order to build the base to commercialise the larger project.

Yep, retail investors often lose badly on leveraged bets, which is why they get so rampant on discussion boards when they’re winning something or when their margin calls are threatening.

That’s not how it works. More and more small investors are betting short/long on AIM shares without ever owning any shares, using CFDs and spread betting websites. That way they get higher leverage for small stakes and there’s no capital gains tax.

You’ve answered your own question. Precisely because Colorado is walking and Rukwa would be running. They are much better off getting a short term revenue generating project up in the short term, in an accessible location, close to helium processing. The Rukwa project is way more ambitious, more costly and longer term. It makes far more business sense to build projects in growing scale.

“The Acquisition is conditional on a number of conditions being satisfied or waived (if capable of waiver) on or before 31 October 2024, including … (ii) approval by the Energy and Carbon Management Commission of Colorado of the oil and gas development plan submitted to the CECMC relating to the Galactica Project and known as Galactica-Pegasus OGDP I and having Docket No: 240400088.”

No delay on the schedule for HE1, it’s well before conclusion of the acquisition deal

It’s always a possibility with this kind of trading pattern, but on the other hand it’s a very heavily traded share and if nothing’s happening for a while a lot will exit anyway, or bet short. If they do raise then I think it will be indicative of a complete change of corporate strategy, from explorer to gas producer. The fact they’ve give up all their exploration licences in TZ, while keeping the development project, and buying into another one, suggests this. I’m interested to see what’s happening with the suspension of trading over at Noble. If HE1 are in any position to turn poacher rather than prey they may do far better in the end than trying to survive as AIM exploration startup waiting for a big break. Early days anyway, we’ll see.

Trading halt for NHE prior to capital raise is more interesting (as it was for BNL). On the back of HE1’s commercial discovery, will they be raising to lease HE1’s drilling rig on their next door patch? Or are we expecting HE1 to JV into that development project too? That would be a surprise, and probably not likely 😉

Seems like routine administrative business for the BNL permit hearing and doesn’t change the conclusion date for the HE1 acquisition agreement. They already have one development well complete and drilling permits on others. The remaining 5 permits will be part of the initial development package that HE1 is buying into.