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Don’t be daft. It’s very clear and simply confirms the state of play as announced in the last RNS and previous Tweets. They are drilling and expect to reach TD soon. There is no bad news (i.e. they have no expectation of not reaching TD) and they will update the market when the objective is reached, just as they said they would. At the moment there is nothing different to report abc they are Tweeting to confirm that (and I imagine to scotch any fearful rumours that they’ve stopped).

There is no evidence on which to conclude that unless you have inside information. We don’t know what the exact situation is although personally I’m OK to wait while we find out.

The only downside would be the same story as 2021 - they have already shown there is a large working helium system in the Rukwa basin, with helium gas at multiple levels. The two downside scenarios would be:

(a) there are signs of free gas but they are unable to run confirmatory tests for mechanical or geological reasons (problems with kit, the well, or drilling in the wrong place)

(b) the deeper helium is not accumulated in free gas reserves that can be economically trapped/tapped for extraction, like the seeps they found in the shallow lakebed sands at Tai1.

HE1 have put in a lot of effort to mitigate (a) and to hypothesise (b). They are drilling for a third time at Tai on the strong belief that there is a deeper trap system (based on the seismic data, and the mud logs from Tai1/2). They believe they discovered it in 2021 and that the problem was more about (a) than (b). They spent millions to reduce the risk of (a) and shifted the drill site to reduce the risk of (b). Both risks still exist though until proven otherwise, but they’ve done as much as could be done to mitigate. Fingers crossed.

As LW says, follow the money in larger blocks. Or, as Cromwell says, try to dummy buy/sell a million shares and see what response you get ;-)

It might be reassuring to anyone with anxiety doubts but you simply can’t Tweet any news that’s price sensitive. It has to be notified to the market.

You don’t have to at all. You can choose to if you want to, or you can sell and buy back lower, or you can top up and average down, or you can cut your losses. Different people will make different choices, which is fine.

Going to hit stop loss selling

Which is what the company said in their Tweet on Friday.

Yep, double diligence and everything by the book, considering the project failed last time on the risk of wire line snagging. Fingers crossed there will be a green flag for casing the 8.5” sections.

I don’t think that will be enough. They have an obligation to report inside information that could affect share price or investment decisions. They have continuous mud logging data and gas spectrometry on site. They may need time to formulate those results but I doubt they would simply announce TD and withhold the information they have about gas shows.

I agree, looks like a board meeting and I suspect LB flew back to London after they had drilled past the main geological target levels. I don’t think they can easily Tweet today without an RNS, unless it’s about Itumbula. Radio silence until ducks in a row. Meanwhile someone is buying.

"I remember seeing a video possible post on here a couple of years ago. Was a pipe coming out of the ground just flowing helium which they set on fire for some reason so they had multiple pipes and flames coming out of the ground."

Are you thinking of hydrogen or methane? Helium is non-flammable.

I imagine they discussed how to word an RNS, and what the options might be for financing phase two.

Here's a reminder...

“…I’m David Minchin... and I’m here to talk to you about mud…”

https://twitter.com/Heliumone1/status/1412296769694744579

From the earlier RNS

“ Whilst drilling, Helium One will measure gas shows using Geolog's mudlogging services and a portable mass spectrometer. After TD has been reached, Baker Hughes will then rig up and run their wireline tools. Once the wireline logs are run and evaluated, the Company will then run in hole to evaluate further with Baker Hughes' Reservoir Characterisation Instrument ("RCI") tool to take downhole samples under reservoir conditions. Onsite, there is also the facility to transfer and evaluate these samples, as well as the capability to send duplicate samples for laboratory analyses in a leading noble gas laboratory.”

Appraisal early next year is then another step, if there is a proven discovery.

There’s a lot of confusion here between different stages in the process. If they have drilled to TD then they will have mud logging data all the way down. That will indicate if the levels at which there are gas shows, and hopefully that aligns/confirms with the geological model from seismic data and the Tai1 drill. That will be great news but does not allow the company to log a proven gas reserve. That process starts when the well is clear, and will take approximately two more weeks.

Business as usual, there won’t be a result tomorrow, hopefully a step closer to one though.

“ I still don’t think we will get any news on helium”

If the RNS doesn’t mention helium the SP will collapse. They’ve been monitoring helium shows continuously in mud logging during the drill. I’d be surprised if they didn’t mention something about presence of gas shows and their indicative concentrations. Then yes, we wait another two weeks or do for detailed test results.

Interesting hypothesis. Would certainly need some ironing out of legalities in areas also covered by helium licences, even if there was helium mixed with hydrocarbons (?).