Member Info for Blubay

6.2 million shares at 2p, not bad at this stage in the game

How is it a sell at 2p?

I still don't understand why you are trying to buy in at your target price if you think it's a no hope investment. Are you still trying to close the same short you missed at placement price?

Yes, commercial appraisal was always planned for Phase 2 of the Rukwa campaign

Yana - > 90 disrupter posts on HE1 in 23 days (c. 4 posts a day)

Neil - > 2,100 disrupter posts on HE1 in 30 days (> 70 posts a day)

I think everyone is painfully aware that Neil is a full time board disrupter and P&D ramper, it would be hard to miss it.

Squeaky voice time more like

From the Proactive interview, I note...

"We're looking at helium concentrations up to 4.7%, which positions us as a world-class helium source. Considering commercial viability in other projects starts at just 0.5%, and ours is pure helium without hydrocarbons, it's a monumental achievement. This could potentially make us one of the largest primary helium sources globally."

"...we're focused on fully evaluating the data and understanding how these gases behave. Our aim is to appraise and eventually commercialise the project..."

I believe it says "following" reverse circulation, but I may be reading more into the sentence than is there. It does specifically refer to the measurement being repeated during open hole operations, and there is a description of gas being liberated from basement fluids at shallower depths.

For anyone who didn't read the RNS

"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."

Very unlikely to get that disclosure privately without wider release to market.

The likes of Yana and Neil only arrived here on the day of the results RNS and price spike. Yana has been posting to short and Neil to pump. Judging by the quantity both appear to be incentivised posters.

You’re right that there isn’t yet sufficient data in the public domain on which to base long term commercial investment, pending publication of the full analysis, but the company seems to be in no doubt that the initial results are significant enough to move the project towards commercialising the find.

“Flowing helium to surface in such high concentrations is a huge milestone for the Company and we will now fully evaluate these results and focus on advancing this project in the most effective way possible; one that will aim to achieve commerciality at the earliest opportunity.”

Thanks, it is also not a parent company of HE1. It’s a company wholly owned by HE1.

Here is the certificate of incorporation, it’s not a parent company

https://find-and-update.company-information.service.gov.uk/company/15298007/filing-history

HE1 was the sole founding shareholder of EAH not the other way around

In case of major commercial success it would also make sense to use this structure to carve out a wholly owned EA exploration/drilling company from HE1 as a gas production company (which can contract with the drill company for services),

I presume it would also have ring fenced the rig asset in Tanzania in case HE1 went into admin, and maybe also why it was set up in November

As far as I recall, EAH provides them with a regionally located company structure that makes it easier to do business in Tanzania, and that company nominally owns/operates the drilling programme (I presume that it owns the rig). HE1 is the sole founding shareholder.