Member Info for Blubay

Not going to help the deteriorating share price anytime soon though.

Occupational hazard when drilling, looks like they have it under control anyway, clean out then another 100m to first target

https://www.investopedia.com/ask/answers/100314/whats-difference-between-401k-and-pension-plan.asp

Oops, I'm missing out weekends :-)

Why would you expect it today when terminal depth was planned for a 25 day drill from 19 June?

RNS was 19 June - "Drilling operations are expected to take in the region of 25 days to reach the prognosed TD drilling depth of 2255m (1709m True Vertical Depth), with an additional 12 days scheduled for testing."

19 June + 25 days = Monday 24 July + 12 days = 9 August

Not very likely, end of planned drill period is next Friday with test results up to a couple of weeks after that.

28 million shares moved before lunch, looking good

"I think Lorna and team know they will discover the helium"

They know the helium is there, they don't know if it's commercially extractable. To claim a 'discovery' they have to tap into a reserve and free flow gas back up the pipe. Bubbles in sand and mud samples aren't sufficient unfortunately, but levels of confidence improving all the time. They've done a couple of drills already and de-risking the options each attempt as long as they don't run out of money (but at least they can lease that rig out to Noble and the government to recoup a bit now). Prospective discovery is always high risk high return. If the geology is right and there's a significant free gas trap down there (if...) then they've a good chance at it now.

Back of an envelope, any prospective drill might have a one in four or five chance of success, so on a balance of probabilities you might design a multi-drill campaign in hope of striking once. But HE1 are already in the middle of a multi-drill campaign, stretched over 2-3 years and have learned a lot from the first 2-3 attempts with lesser equipment. Hopefully that raises the chances, but it's inherently a high risk business. The helium is obviously there, and the rock formations might suggest a significant trapping system, but no-one really knows if it's commercially extractable from a well. You wouldn't put money into any startup virgin drilling company trading on AIM unless you were prepared to lose it.

Because, if you were a heavy rig provider, why would you choose mobilise your rig and crew for a single drill for a little company like HE1 in rural Tanzania if you had any other alternative? That, and the vague possibility that potential rig providers are being nobbled by a major player with an interest in seeing HE1 run out of money and sell up their licences.

"no idea why so many will just completely and utterly damn their own investment daily"

They don't, LSE is just over populated by shorters and boiler rooms who think they can move the market by posting mood swing posts on discussion boards.

"Noble are great at comms" ...because they're trying to raise funds from new shareholders. Companies with business as usual and tight cash margins don't waste money on paying for unnecessary RNS releases unless there's something concrete to report that would affect price.

'Sell on news'

Approximate timeline...

12 June - rig mobilised

19 June - rig operational

14 July - target depth

26 July - production tested

Why on earth are you buying at 0.13 when you said you were going to buy at 0.10? None of my business but why pass on a 30% short term profit that you predicted yourself as a certainty?

Hopefully the strategy works, if they can tap this well then it's a steady revenue generator and a starting base to develop more projects. With luck it takes us to 0.2p and towards 0.5p and we'll see where we go from there.

are you still having trouble buying those shares?

How many did you buy?

Have you bought yet?

Would be a lot heavier if you got around to buying all the shares you keep promising to buy.