HE17 Jul 2023 10:43
The RNS today is very poorly written, which tell us that NHE got the jump on HE1 once again and we are too reactive to what they were doing, however this for me tells us that HE1 have another option, as if they didn't they would have already signed with Marriott, and to continue with stating in an RNS that Q3 is still happening, tells us all they have an option for a Q3 spud. or they would have had to tell us "we have signed with Marriott and will spud Q4" ( WHICH I'M comfortable with regardless)
Im extremely frustrated at this situation but have bought more shares this morning, why:
1. HE1 have essentially protected themselves from SOFORI, ie issuing a rectification notice, meaning they have legally gave them enough time to short the issues out and based on that , will cancel LOI engagement if they cant, therefore SOFORI cannot later down the line sue HE1- that makes good business sense
2. its clear that Marriott rig is an option for us to jump in on and although this will be after NHE now (not deal) at least it secures a drill this year, WET season is December onwards, so even with a late September drill for NHE- 3 week well, we can have the rig mob in October for our two week well
3. its clear we want to go on our own as a first perference hence we havent jumped immediately on the marriott rig, SO INFACT WE HAVE THREE OPTIONS - Sofori (if they get their act together) Marriott (after NHE but still 2023) and this third option which could come left field
YES the comms needs to be better, yes we are all exhausted and yes its super kick in the jewels that this has taken us from 7.5p to 5p (again) but IF they are saying after ALL of this that Q3 is still on- my god they must have something lined up that could drop any time
FOR me this presents a massive BUY opp, IF you like to ride by the seat of your pants and love a bit of risk
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