Member Info for Blubay

Hopefully everyone using LSE discussion boards knows that isn't a list of 'buys and sells'. It's a list of trades sorted against the average/mid price of the various MMs at the time stamp of the trade. If the trade is below the mid then it's labelled as a 'sell', or above then it's labelled as a 'buy'. But if you look at actual trading ranges, and the Bid/Ask of different MMs you can quickly see that's not how it works in practice, it's just an estimate. At different periods of trading it can be more or less misleading (and there are ways of distorting it's appearance by putting through small trades at misleading prices, by delaying reporting of larger trades, and so on). HE1 trades on AIM SETSqx anyway, so prices also get uncrossed only at periodic auctions (and some orders are only visible for a 10 minute call period before each uncrossing). Basically, ignore the buy/sell labels or take them with a pinch of salt, especially on less volume traded shares.

https://www.proactiveinvestors.co.uk/companies/news/81/idiots-guide-to-the-london-stock-exchanges-setsmm-0379.html

The anglers for sub-placing price have done their work and now gone fishing elsewhere, back to normal trading for a bit.

Also that 500k trade was a delayed publication

Latorre - what do you mean by "marked as a sell"? It's trade, every trade has a seller and a buyer. You can't tell from the list of trades who is buying and who is selling.

See slides 5 and 25, respectively

It was already stated in HE1’s presentation that they were in discussion about potential farm out. However, there was also an annex showing development designs for a helium production plant with outline costings.

Let’s see how trading goes today, lots of liquidity yesterday and the price may start to walk up now, we’ll see.

End of the night shift, the drill seems to be back up so maybe they have that conductor done and we might get a new pic of the well head later.

That’s ridiculous Forrest, you had three posts on Twitter from the work on yesterday’s day shift.

Here’s a 20” conductor in a similar kind of cellar setup to Tai

https://youtu.be/hWsUZXAbMwI

Lower tech setup but you get the idea…

https://youtu.be/GlJFGe8pmJU

Yes, I was getting ahead of myself. The conductor looks like it’s on the floor at the beginning of the shift and then set in position in the later pic. Work to do on that before the casing lengths go in I think. We’ll see what tomorrow’s pics show.

Yep, perfectly steered to target

OK, just speculation but the first Twitter picture 'start of a new shift' shows casings lined up in two diameters. The larger ones will be the 20", and there are 5 lengths of that, racked up and ready to go. If they're using R2 lengths then that's about 150 feet (?) which sounds about right. https://twitter.com/Heliumone1/status/1706568063745753467

Then we have a picture an hour later of Lorna dropping in on the Geolog crew, assuming they've been calibrating. Then we have the third picture with the cut off marker in the hole, so we can guess they got all that 20" casing in. Hope to see some snaps of the well head in progress maybe soon.

Likely it will end the day just where it started, nice looking dragonfly doji candle for a technical price reversal. Could be up to 25 million shares traded by the close once we get late reported trades. More Tweets tomorrow hopefully, looks good.

"Great post Rick"

Chat GPT? :-)

...more than 20 million shares traded before 2pm

Everyone knows there is a working helium system in Rukwa because HE1 proved that there is. They also know what the concentration of He in gas seeps is. But it's about more than that. The technical challenge/risk is whether that helium is trapped, and can be drilled, in a way that makes it commercially extractable. No-one can be sure of that and they are misrepresenting the prospect if they pretend that they do, at least with any certainty.

That’s the 20” conductor lengths going in, not the drill, looks like they’ve already reached TD on the first section. They will case that, then start drilling the 17.5” section. Wonder if they’ve logged anything of interest on the way?

...and we're green to go, dragonfly dogi and fingers crossed