Member Info for Blubay

As everyone knows by now, the difficult part is that they appear to have two different helium assets to disaggregate. They appear to have some trap reservoirs beneath the lake bed, which may or may not be in solution, and they appear to have a deep hydrothermal carrier system from basement. In order to assess the total recoverable gas from the well they have to model these two things separately and produce a combined model. My guess is that the reservoirs don't amount to huge discovery and present similar limitations to those found by NHE in similar strata, so they are hoping to pin more on understanding and exploiting the generative basement system (by drilling deeper or side tracking the fractured basement at Tai, and/or exploring more at Itumbula). She alludes to these options as next steps in the interview.

"...just remember it is just that, sentiment..."

Yes, but as 99% of the AIM market is about sentiment that does have a material impact

I'd be surprised anyone would have spare cash to buy major shareholdings while living in London with kids on her salary. She has lots of share options to earn at higher prices, so bags of incentives there

It has to be correct and it has to not dump the share price. Shareholder expectations here have been unrealistically high, so there's a high risk of disappointed reaction to an underwhelming RNS, with people clamouring for announcements of major JV partners etc. That really isn't likely without further development work, including wider field testing/drilling, for which funds will be needed. The recent raise provided interim funds to plan that development work but not to carry out it out. They will need to present a detailed asset valuation report, with a convincing plan for commercialisation, to boost the share price and provide a sound basis for raising the money to implement it.

The Masika long rains will be just getting going through to May time, might not be very wet at all where they are but if you did want to move heavy stuff around on dirt then now would be a good time to get that done, until June or thereabouts.

Because it will raise as many questions as it answers and I imagine they want to get their ducks in a row and not trash the share price before working out a financing plan for development

The original plan was for six wells and infrastructure to gather output to plant

See the September 2023 presentation, slide 25 for an update on that

Or do they mean operations to open up the hole?

Joe - I was asking about your comment on measurement after circulation. The RNS says “this consistent helium gas measurement was repeated during hole opening operations”. So not under circulation then but in open hole?

Joe - it also says the following things, could you interpret?

“Two subsequent well tests were carried out across the fault zone and yielded similar results from the downhole samples”

“As the helium rises through the well bore, the pressure decreases, and it is thought that the helium then comes out of solution and increases in concentration.”

“The well produced a continuous measurement of helium gas across the micro-GC and this consistent helium gas measurement was repeated during hole opening operations in preparation for running casing.”

Https://www.tradingview.com/script/N0fXWOv7-Market-Cap-simple/

The posters who encourage you to filter everyone with a particular message are the ones manipulating the board. It plays both ways, shorts will try to cover the visible board with negative headlines, rampers with positive ones. You can do that by making multiple posts in quick succession or by making contradictory posts disappear. You can also put off new investors by making a board unworkable with serial disruptive posts anytime there’s informative discussion. It’s just the way these boards are played. No point in filtering anyone, learn from the general pattern of which teams are winning

We’re waiting to find out what further well testing or drilling is needed at Itumbula or Tai, how much it will cost and how they propose to finance it.

Company has lots of credibility WN, they just don’t have any cash r income. Obviously it was going to run out of rope if the sand blasting didn’t work. That was always a 50-50, so yes it would be foolish to ramp it but there’s no need to exaggerate.

It was becoming inevitable, full marks to them for open disclosure of the cash situation though, fair play. At least that provides some confidence to market about how to weigh up the risks.

they certainly wouldn't be ******* about on a retail shareholder bulletin board like lse

"If He1 are in the same boat, then that means they likely will need to undertake appraisal drilling as well"

But unlike Noble they drilled both wells to appraisal spec and have not plugged and abandoned them, instead they have capped and suspended them (at additional cost) precisely so they can go back to them.

Yes, and the share price seems to be in a perfectly reasonable place to weigh those options pending further information, up 1000% from not having any discovery results, and up a third or so from the last discounted raise on that positive news. All seems good to me.

And right on cue the board wreckers arrive, after you sir…