Member Info for cperkin

Do they not at least have quarterly meetings as a JV Crusty? I would at least expect news to be forthcoming from such events, if of course there is actually any news that is.

I expect the BOD have the money for the 2021 budget for Ruvuma. 2022 funding will no doubt hinge partly on how HE1 performs and the number of shares + the 1 million options. Worst case is the remainder is worth next to nothing on drill failure @ HE1 and they have to fully use the $5 million loan facility, best case is 2022 would probably fully funded on a positive drill outcome.

So the bit missing is the BOD actually delivering on their published strategy beyond the legacy assets.

Certainly would be 100% de-risked by then SVS, issue is with a 25 year development licence and FFD approved as per the current plan, that would = 8 to 10 production wells and earnings of around $40 million a year. per 25% holding. The cost to buy it would be in the $100's of million V $20 million today.

Thank goodness this is Helium, an inert gas and not Hydrogen Loggy! But yes the drill bit is the truth maker.

Not long now....

GLA

I agree with AA Noob, I expect they will keep the 1 million options at 2.85p + some shares for the drilling. That is why NR forked out shareholders money in the first place, to drill the asset. No idea how many shares they will keep but my guess is some free carry shares post full original outlay recovery.

We recently announced the completion of our extended infill 2D seismic campaign and identification of new priority drill ready targets ahead of commencement of exploration drilling programme at Rukwa Project in #Tanzania

Here, the Mud pump at camp is waiting to be offloaded...

Our Tai prospect is believed to be larger than interpreted from historical data which has contributed to the Technical Team's decision to upgrade Tai from a 'low-priority' to 'must-drill' target.

Here, you can see the Tai well site levelling and clearing underway.
https://twitter.com/Heliumone1/status/1394167925729374210

https://twitter.com/Heliumone1/status/1394907749285236736

See my post last Wed BG

The signing ceremony between the Government of the Republic of Tanzania and the investing companies in the East African Crude Oil Pipeline Construction Project #EACOP will take place on the 20 May 2021 in Dar es Salaam. His Excellency
@KagutaMuseveni has agreed to attend

https://twitter.com/abdulsamadz/status/1392529632419893255

Apologies, I mixed up my super majors! Total are building the pipeline between Tanzania and Uganda and Shell, Equinor are planning to build the LNG plant in Lindi, near to Ruvuma with talks expected to conclude this summer.

https://energycapitalpower.com/2021/05/05/tanzania-to-revive-30-billion-lng-project-in-lindi/

Morning Jam, Total have indeed pulled out of Mozambique and have confirmed they are now putting the money into the Tanzania/Ruvuma LNG

Yes BG, I think they have around enough or the 21 budget and a loan facility available for the CH1 drill early 22

Need to see progress now from the Zubairs on licence and 3D mobilisation and then it's game on.

Wonder if we will see Zaks 30p target before spud in June?

Seems prudent to me steve, they basically are on a free carry now with their 9 million shares and 1 million share options @2.85p

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive production and development opportunities within the European energy market, announces that, further to its Helium One Limited ('Helium One') TR1 notification released on 30 April 2021, Scirocco has sold a further 7,450,000 ordinary shares in Helium One since that date, for proceeds of c. £1.60 million, reducing its holding in Helium One to 9,556,088 ordinary shares, which represents c. 1.59% of Helium One's currently issued share capital.

In aggregate, Scirocco has realised c. £2.06 million in proceeds from its sale of Helium One ordinary shares since Helium One was admitted to trading on AIM.

So they have over £2 million worth of shares in Helium-1 still to go + 1 million options at 2.85p (price today 21p)

SCIR have 3D over both their gas assets in H2 so the money will no doubt be used for that followed by a 3rd well over their gas discovery. Still like you say Trek, all easily absorbed in the volume here and already history, so no worries on that front and all ready for the drilling next month.

GL

Seems a very prudent move by the BOD to me & I would not be surprised if they let some more go before drill results.

All down to the drilling next month now to see what additional returns if any are achieved.

I believe they paid 2.55 mill but they still have around £2 million worth to sell at current price. So 2 million in the bank + £2million still left on the table (Not including the 1 million options)

Excellent price, looks like the 21 Ruvuma budget is in good shape.

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive production and development opportunities within the European energy market, announces that, further to its Helium One Limited ('Helium One') TR1 notification released on 30 April 2021, Scirocco has sold a further 7,450,000 ordinary shares in Helium One since that date, for proceeds of c. £1.60 million, reducing its holding in Helium One to 9,556,088 ordinary shares, which represents c. 1.59% of Helium One's currently issued share capital.

In aggregate, Scirocco has realised c. £2.06 million in proceeds from its sale of Helium One ordinary shares since Helium One was admitted to trading on AIM.

Agreed Aimster.

Helium-1 flying today +11.91% and 21.9p on the ask.