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Tanzania and Uganda have signed the fifth crucial Host Government Agreement (HGA) that finally allows the construction of a 4.16billion US dollars heated pipeline to carry crude oil from western Uganda to the Indian Ocean coast in Tanzania. https://dailynews.co.tz/news/2021-05-2060a6497c6a8df.aspx

Thx to Maverick

Morning SVS, the only date we have is the vote on the proposal on the 9th July. I assume the transaction can complete straight after a positive vote by shareholders.

foolish article.

Reports today confirm that HE1 has found rather more than it bargained for as the mineral rig as if defying gravity was last seen floating off over the port of Tanga in the direction of Kenya.

David Minchin, CEO was unfortunately unavailable to comment as the mud unit and David were last seen hot on the tail of the rig.

https://www.thecitizen.co.tz/tanzania/news/government-in-new-plan-to-increase-gas-usage--3453610

https://www.thecitizen.co.tz/tanzania/news/government-in-new-plan-to-increase-gas-usage--3453610

have successfully reached section TD of the 17 1/2" hole to a depth of 412m as per the plan.

…Casing running and cementing now on-going.

https://twitter.com/BlockEnergyplc/status/1409421431054684166

Seems to me that as per usual they are praying that the Tanzanian Gov deliver, in this case the extension licence and hence leave the ARA to the last minute, just in case. It's not like we have not all seen this ridiculous game play out before with the Gov and the AEX BOD thus having to extend deadlines as far as possible.

The new president keeps talking the talk, still waiting to see her words turn into actions for onshore gas.

I would be extremely wary of posters that claim the SP can half but attack anyone that then say it can double.

Hi Zag. I thought it would be a good idea to focus away from the personal attacks and snide comments and remind everyone that the drill is surely the focus of attention.
"200ft of oil-bearing sands in secondary reservoirs" with the main target still to go is pretty significant imo .

All the best.

Helium-1 drilling alone could easily deliver this on a successful drilling programme and commercial Helium.
Biogas revenue will begin to come in once the deal is approved and I expect further growth in this area before year end.
The largest asset of them all on the Books, Ruvuma is due to drill year end early 2022. Based on the previous 2 drills and the huge resources already discovered it is likely that this will push the SP way above 2p to the multi bag range.

Finally getting exciting here!

Relax and enjoy while they do the hard work.

24 June 2021
Drilling has now reached a depth of 4,126ft,. As with the first sections of the well, we have again encountered hydrocarbons in the most recently drilled section, and logging the balance of the Middle Cruse has indicated a further 42ft of net pay - meaning that we have now identified a total of over 200ft of oil-bearing sands in secondary reservoirs of interest. Drilling continues, to an anticipated TD of 4,557ft, at which point the primary reservoirs of interest will be logged. We will provide a further update once drilling is complete."

Have a good weekend!

Around £2.6 million value based on close, drill turning all weekend I expect.

Enjoy the weekend.

Drill bits turning all weekend, enjoy!

Afternoon steve, even if HE1 go's to the moon and £1 post drilling I would still say they did the smart thing banking a few million and running a free carry.

It sure is hotting up after the initial small Helium show, if the show improves then the price will likely improve, if not then it will probably dive.

Exciting stuff!

SCIR HE1 shares up another £200,000 this afternoon, total now = £2.5 million @ ask.

Millions already cashed in, a £16 million asset on the books + soon to be generating cash from the Biogas investment.

Price here is looking very silly now.

They held over 21 million shares and cashed in £2.06 million and still hold 9.55 million shares and 1 million options that they have exercised.

Current value of holding = £2.4 million (not including the 1 million options)

HE1 Helium One Global: 'The potential is massive' says Mining Capital's Alastair Ford https://tinyurl.com/yz4wombd
@Heliumone1
#HE1 #Katie_Proactive

https://twitter.com/proactive_UK/status/1408365861908488192

Latest interview

https://twitter.com/proactive_UK/status/1408365861908488192

Environmental Baseline Survey Completed
Victory is a low-risk gas development fully appraised and requires no additional pre-development drilling. SLR Consulting estimates that Victory has 2C resources of 157 BCF and NPV10 valuations ranging from circa £85 to £146 million