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That’s incredibly helpful seismic, thanks for taking the time

Fair enough, we know there is a working helium system at Rukwa and it’s good that NHE also showed this. The wire line should add useful data but sounds like they may not have much else to add until their second drill

I wouldn't pay it any attention unless it changes your investment assumptions, WK likes to targets pump and dump plays on loads of shares, each to their own, it's just one trading strategy among the many different positions held by different people on these boards, gla

Professional - "if the reserves are so valuable and cettain the seller has made an awful deal here and given it all for almost free to us ."

I think you've misunderstood what a reverse takeover means.

Maybe Seismic can help out here?

I totally understand that the illustration for the TaiC well path is intended to be a 3D representation, and that the formation slopes off in 3D, so I'm not suggesting the two well paths are horizontally lined up (clearly they're not) but I think the prediction was that TaiC would encounter the Top Basement layer at approximately the same depth as TaiA (but drilling on the other side of the fault). We already know the depth of the basement layer on the A side. So if we're now 400m deeper is the implication that the formation slopes away more sharply on the C side and that we intersect it at a lower level than the sweet spot we're ideally aiming for?

I've just sketched this out roughly on top of the illustration provided by HE1 https://imgur.com/a/nHwhX7x

TaiA

Depth – 1,121m

Helium shows at five intervals in the Karoo Formation

Wire lined down to 880m

• No free gas in the uppermost thinly bedded Karoo sands (824-845m)

• Helium shows in the deeper and thicker sandstone units (not tested)

• Helium shows in the main Karoo reservoir (not tested)

TaiC

Original target depth - 1,100m

8.5” drill started at top of the Lake Bed Formation

• helium shows in Lake Bed Formation

• helium shows in Karoo Group

End October drill stopped at 1,445m (measured depth)

New basement target depth approximately 1,550m (proximity indicated by cuttings)

I’m not quite sure where we are in terms of vertical depth relative Ta1

The basement is definitely a further target. The implications of the >400m margin could be very good in some ways (for the Karoo targets) but slightly perplexing for the basement targets, as the question then arises… where is the optimal top of that basement trap if the drill is now lower than the Tai1 TD? 🤔

Probably it’s removed for exactly the same reason Minchin had to remove the HE1 Tweet in 2021, if it contains or conceals price sensitive information they should have released it to the market not Twitter.

At the risk of repetition. It’s all in the most recent investor presentation, e.g. slides 6-7

https://www.helium-one.com/wp-content/uploads/2023/09/230830_Helium-One_Marketing-Roadshow_Sept23_FINAL_for-website.pdf

We were distinguishing between downhole testing and running a commercial appraisal. They'll drill another well for appraisal. https://www.npd.no/en/facts/wells/well-definitions

Have to say that Lorna and Mike's body language looks positively radiant by comparison, but probably shouldn't read too much into it.

Yeah, I think this was always an exploration drill and not designed to be a commercial appraisal well (which HE1's well is), so it was always going to be abandoned after testing. It's NHE's first drill in an untested prospect, at this stage they really just need proof of concept to de-risk Mbelele. If they strike gold then great but the whole shallow trap play just feels less commercially likely to me than HE1's deep targets strategy (but I'm not a geologist), although definitely quicker, cheaper and simpler if it works.

It was an exploration well so I think it was always going to be P&A'd, but agree that he really didn't look very hopeful. Hopefully they'll get some good down hole geological data and they have some encouraging helium shows, which is a start I guess. One down, one to go.

Noble are doing what Minchin did, which is to bet on the quickest route to try and claim a discovery so they can raise larger capital investment on the back of that to fund more extensive drilling. Quick and dirty, it might work or it might not. Minchin's shallow well at Tai2 was a decent gamble with limited time and money that unfortunately didn't pay off. Like Noble, they got good helium shows but the evaluation showed that free gas couldn't be commercially flowed from the lake bed sands. However, the strong helium shows from Tai1 and Tai2 were enough to get HE1 more seriously funded to drill these bigger and deeper appraisal/production wells. With luck, NHE will have de-risked their prospect with the data they get. Let's hope they are luckier than HE1's shallow drill.

All looks, big gains today and held up very well buying into the sells

I think people misinterpreted the RNS

"On Sunday 29th October, whilst running back in hole following a drill bit change, there was a seal failure on the iron rough neck which is used to make and break connections of drill pipe. The Company is confident that this part can be replaced in-country but will require a few days to source and repair."

It wasn't the part that was the problem it was the repair job.

Did you watch the interview Joe? It wasn't a problem with the spare part, the problem was that they had difficulty opening the cylinder off the rough neck with the tools on site and had to take it to a local workshop offsite (see video section below)

https://youtu.be/zah7aQCKLho?feature=shared&t=93

I don't think a total NAV for the asset underground helps very much really, it's obviously a very big number. What matters is what can be brought to market over what time period at what cost and profit. The estimations on the concept for commercial development seem more useful for that purpose. The aspiration is to ship a gas tanker a day, potentially from six wells with interconnected distribution.

It's all mapped out in the most recent shareholder presentation, although there is no published market price for helium sales as such