RE: Helium ?27 Dec 2023 18:26
Keith,
I dont believe this has been overlooked by the market. The RNS you reference is just as exciting to read today as it was on release, though the connectivity, or the extent of, needs proving.
Imo the SP languishes not due to pronounced doubts over the existence of potentially large quantities of gas, but rather due to the company's immediate intentions toward it.
Over 50m of possible gas bearing sands were encountered in the Moulouya fan interval at MOU3, (P50 of just 19 remember!) with elevated gas readings to boot.
Excitement overdrive! But the company's revised testing programme intends to test just 6m of this possible 50.
Once 4m of MA sands are tested its onto MOU1. No testing whatsoever is scheduled for the TGB-4, sub TBG-4 or TGB-6 intervals or the two shallow gas horizons (casing).
Its a similar story at MOU1 (4-8 m) and MOU4 (0-6 m).
This is of far greater relevance than the recent delays, which have been inconvenient rather than fundamentally important. Having raised £10 million to test, shareholders are probably thinking wtf?