Member Info for cperkin

That's also the way I read it Vike. However, if no deal by the summer then they might as well drill that back to back drill ;0)

"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

Guess we will just have to disagree I think your sell everything as quickly and as cheaply as possible strategy flawed.

Colin, as I said, list from 0 to 6.99p, feel free buddy, I can't be bothered to be frank and have much better things to do. As for your question, nothing other than a sale at the right time which appears to be their intention,

Colin are you just deliberately being obtuse? the price at close was 6.99p, I started at 7p, so yes 0.01p out.

See below.

Here are some ranges of SP V value, which will it be?
SP Value to SCIR
7 £1,490,817
8 £1,703,791
9 £1,916,765
10 £2,129,739
11 £2,342,713
12 £2,555,687
13 £2,768,660
14 £2,981,634
15 £3,194,608
16 £3,407,582
17 £3,620,556
18 £3,833,530
19 £4,046,504
20 £4,259,478

I just took the current price, feel free to add in any direction you like. Do I expect the price to rise as they approach drilling? yes.

HE-1 has been trading in a range for a while the main catalyst for the SP will be the Q2 drilling and I expect the BOD will sell.

Here are some ranges of SP V value, which will it be?
SP Value to SCIR
7 £1,490,817
8 £1,703,791
9 £1,916,765
10 £2,129,739
11 £2,342,713
12 £2,555,687
13 £2,768,660
14 £2,981,634
15 £3,194,608
16 £3,407,582
17 £3,620,556
18 £3,833,530
19 £4,046,504
20 £4,259,478

+1 Aimster, obvious is it not, unless you sold before the last news that is ;0)

I think both AEX and SCIR look cheap at these levels and certainly AEX later in the year, worth building a stake at these prices imo. Of course a lot depends on what the BOD here do with Ruvuma and when.

Welcome John, SCIR is at way less than half asset value + cash, so don't see how you work out it looks expensive?

GL

https://www.share-talk.com/david-minchin-chief-executive-officer-helium-one-group-ltd-he1-l-interview/#gs.v6tzpo

Wait for the drilling and best price, no rush.

Thu, 31st Dec 2020 07:00 As at today's date, the Company has in excess of US$3.6 million in cash and near-term equivalents. Additionally, the Company has access to a committed US$1 million tranche (and up to a further undrawn US$3 million under certain conditions) under the Cash Facility Agreement that the Company entered into with Prolific Basins LLC in June 2020.

The Board has worked hard to ensure that the business has reduced its cost base in line with its current level of activity and is estimating a baseline FY2021 corporate overhead of c.£500,000 (excluding exceptional expenses and contingencies).

https://www.lse.co.uk/rns/SCIR/new-broker-and-directorpdmr-shareholdings-tqvi6rvamq84x4k.html

Morning John, looks like they are getting ready post drilling to fund more drilling/development. My guess is late summer this year for the begging bowl over there.

Morning steve, indeed. and like I say if Ruvuma not sold by the Summer then wait for the drill.

"with mobilisation of the rig and other services planned for the second half of 2021."

Ruvuma Operations Update



Aminex provides the following operational update on activities in the Ruvuma PSA, onshore Tanzania.

As announced previously, the Company has completed the Farm-Out agreement with ARA Petroleum Tanzania Limited ("APT") which has assumed Operatorship of the Ruvuma PSA. Under the Farm-Out agreement, Aminex is carried for its share of the associated field development costs up to US$35 million, equivalent to gross development expenditure of US$140 million.

The joint venture partners agree that the acquisition of a high-resolution 3D seismic survey is of primary importance for the preparation of the Field Development Plan. The new seismic will also deliver information that will be helpful in the final planning of the Chikumbi-1 well and the location of any subsequent development wells. APT has presented both the joint venture partners and the Tanzania Petroleum Development Corporation with a revised schedule showing seismic acquisition taking place over 480 km² during the second and third quarter of 2021 with processing being completed thereafter. APT is in the process of awarding the initial contracts for the new high-resolution 3D seismic.

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.

Charles Santos, Executive Chairman, of Aminex commented:

"The Aminex Board is delighted that activity on the ground in Tanzania is finally taking concrete form and moving us closer to establishing the Field Development Plan whilst enabling the final planning of the Chikumbi-1 well and assist with the location of subsequent wells."

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

Update might be too strong a word ;0)

Exactly AA, As if shareholders would ever vote to accept to less than $20 mill. If not sold by the summer, hang in for the $60 to $100 mill post C1 imo, the old BOD believed it is worth $100 mill on the 2C alone.

Full ask paid and they drop the SP...surprise.

Full ask paid, hidden with the UT and showed SP and BID at the same price all afternoon.

All about control of the future, they have little control over Ruvuma with a 25% stake and the Zubair corporation running the show with the Tanzanian Gov.

Indeed, it would be 2023 for a 25 year development licence at the earliest I would expect. Hence why the BOD are looking to sell now. I don't see the Zubair corporation and new operator looking worried about any risk with all their exposure/leverage in Tanzania beyond just gas.

If it's not sold by the summer then they may as well wait till the C1 spud imo and I would be very surprised to see them spend £20 million on the first 5 assets this year. Happy if they do of course.