Member Info for cperkin

https://www.lse.co.uk/rns/HE1/commencement-of-seismic-acquisition-midvxagt8hl84pd.html
Highlights

· Mobilisation of data acquisition team, vibroseis trucks and geophones.

· 150km of infill 2D seismic targeting multiple trapping styles.

· Interpreted seismic data will define optimal well locations and reduce risk in drill targeting.

· Final technical input prior to commencement of Helium One's maiden drilling campaign in 2nd quarter 2021

Close spaced seismic data acquisition will be focussed in areas of known prospectivity to assist in providing greater clarity on the subsurface structures which Helium One believe have the highest chances of successfully discovering Helium. The seismic campaign is fully permitted and benefits from strong community and governmental support.

I think the consensus is that they have till end Q2 to produce something that resembles shareholder value either through a Ruvuma sale/FO or a cash generative asset or both. So they have around 15 weeks to deliver with some drilling action along the way @HE1 to fill in the gaps.

Maybe they should have stuck with Gneiss? Should find out on or before the 4th April.

Could well be never then Colin if they deliver as they say in the next few weeks. Maybe I should cap the "IF"

Afternoon steve, I am not surprised at REEF and I first invested long after it was bought and sat doing nothing for all those years. I am surprised they were able to give it away tbf, with licence + decom costs etc going forward.

I think the BOD have till the summer to deliver either a deal on Ruvuma and or a cash generative asset.

Got any skin game after selling a few days before the last rise Colin or just waiting on the vocal side-lines hoping for a lower entry....again? ;0)

Glad they are rid of it and the associated costs going forward. Best deal of the year so far imo.

Best deal of the year so far! ;0)

No caddy it means the asset was so shi*e that no one would buy it even for a £ so the BOD gave it away so as not to have to spend money on the liability of licensing and restoration. A smart move

Disagree there, no immediate need so why sell cheap and why would you sell when shareholders here have paid for the 2D infill and the 3 drills starting Q2. Still maybe they will sell Ruvuma for $20 mill + before H2 is out? f not, it's a huge drill coming.

Indeed, in fact they are the only ones who have been benefiting from this low SP by taking salaries in shares.

4 weeks Thursday since the strategy update and a deal in "weeks or months" be good to see something prior to the HE-1 drilling Q2 ( I suspect it will be late Q2)

Fully agree, they should get their fair share and it seems they will. All other wells have spud late December, so if not spud by Jan they may not drill till post rainy season. Best case id December- worst is then 12 months +

If SCIR have not sold by early second half then I think they should drill CH-1. I expect that post CH-1 the Zubairs will not progress the project further till a 25 year development licence is issued. So no further spend other than drill and submit the development application.
The asset will be worth multiples with a 25 year development licence, all the hard discovery and appraisal done, but needs money for FFD of course so ideal time to sell, low risk to the buyer, high price for SCIR.

Thank goodness the current BOD had the sense to dump out HH at 2.5p-ish look it now, 0.1351p for once I tip my hat in their direction on that one.

HE-1 drilling Q2, Ruvuma licence extension due April and if Ruvuma not sold by end Q2, hang in for the huge CH-1 drill imo.
No idea on if they will deliver a deal in the next few weeks/months as they said almost 4 weeks ago.

AEX RNS Wed, 10th Mar 2021 07:00
"The Chikumbi-1 well is planned to spud in early 2022 with mobilisation of the rig and other services planned for the second half of 2021. The Chikumbi-1 well has been designed to reach a total depth of 3,485 metres targeting both the proven Cretaceous gas reservoir and a deeper Jurassic exploration prospect. Assuming a successful outcome with the forthcoming Chikumbi-1 well, first gas from the project is anticipated to occur in September 2024."

https://www.lse.co.uk/rns/AEX/ruvuma-operations-update-c2wajaozxt4q3ye.html

Whoops, sorry, replied to the wrong thread.

I think we have done this one to death already Colin.

I believe they intend to sell HE-1 at the right time, shareholders here have paid their share of the 2D infill and 3 drills. So some point in the drilling campaign in Q2 depending on results would be good.
However if they sell Ruvuma between now and then for $20 mill + then they might want to re-evaluate based on the HE-1 drilling results after the first 2 wells.

So HE-1 drilling Q2, Ruvuma licence extension due April and if Ruvuma not sold by end Q2, hang in for the huge CH-1 drill.

Anyway have a nice day, got better things to do @ the Weekend, enjoy!

ShouldveSold, true several years ago after the first discovery drill they did open a data room, however since then.

1.0 They drilled a further appraisal well that also flows at commercial rates and increased resources 10 fold, so it's not the same data room with GIIP @ 2 TCF and 2C at 756 BCF 2C
2.0 Funding the development was a big unknown, there has since been a farmout last year with the then operator & the Zubair corporation will fund 75% of development to production to a tune of $130 million. Makes a big difference when you have deep pockets & resources funding 75% of the project.

Remains to be seen if the "several interested parties" and the BOD deliver. If not sold in the next 3 months then drill the next appraisal well.

10th march

"mobilisation of the rig and other services planned for the second half of 2021. The Chikumbi-1 well has been designed to reach a total depth of 3,485 metres targeting both the proven Cretaceous gas reservoir and a deeper Jurassic exploration prospect. Assuming a successful outcome with the forthcoming Chikumbi-1 well, first gas from the project is anticipated to occur in September 2024."

Thanks to GL

https://www.valuethemarkets.com/2021/03/11/aminex-gears-up-for-transformational-well-as-macro-conditions-keep-improving/

Hopefully Kejoglo will post in the next week or so, see if he can beat his/her current record of a 50% rise within 24 hours of ****ging off the company, $20 mill + Ruvuma sale would double the SP or more and be a sure winner ;0)

https://youtu.be/ekub_xEiUww

And if they pull of a deal around the same time with $20 mill + in the bank then all bets are off on the SP

Just saying for balance ;0)