Member Info for Craignews

Over the weekend, the Mbelele-1 12 ¼” tophole section was drilled from the bottom of the surface conductor to section Total Depth (TD) of 130.5mRT. At 85mRT, after drilling through what was later revealed as a 5-10m clay seal, significant bubbling and emulsification of the mud system was observed. The Company’s preliminary interpretation is that the drillbit intersected free gas, accumulated within the upper reservoirs and seals of the Mbelele structure, in line with expectations of gas saturation in the shallow section from the recently acquired seismic data1. Simultaneously, helium in the mud gas spiked to up to three times background, clearly demonstrating helium presence in the free gas, though it is not possible to back-calculate reservoir helium concentrations from the mudgas due to it being heavily diluted by mud and atmospheric gases. SLB’s mudgas helium log spiked several more times as drilling progressed toward the base of the tophole section, and also demonstrated a notable trend of increasing helium with depth, despite slight mud losses from an increased mud weight to control the gas inflow. Measurements further showed that CO2 and methane remained at background levels consistent with our modelling work with Oxford University. While not our primary target, with these highly encouraging results the Company elected to undertake a contingent wireline logging run, which SLB then carried out. Preliminary petrophysical analysis demonstrates a series of interbedded sand reservoirs and clay/silt seals, with approximately 60% net potential reservoir. The presence of effective sealing formations at this shallow depth bodes well for the deeper primary zones of interest. The Neogene sandstone sediments are porous and unconsolidated as expected and the prudent decision was made to run casing and prioritise wellbore stability and our ability to complete the Mbelele-1 well to the planned well TD of 450m. The upcoming Mbelele-2 will intersect these upper Lake Beds reservoirs approximately 100m deeper than in Mbelele-1, allowing an opportunity for further data acquisition in these shallow zones.

Looks like that's finally over, cheeky little shake before the RNS drops

2 weeks till next news, then another at 4 weeks

We look forward to providing further updates once TD has been achieved and once the logs and initial analyses have been completed."

HE1 Will announce by RNS once they are certain NHE can successfully do the raise, otherwise what would be the point. The raise will be for a JV on the drill, or a percentage of HE1 - is it not obvious?

NHE are raising to buy significant part of HE1 at 8p per share - They've raised for their drill, now they are raising to JV

Nothing that we didn't already know really, was hardly worth putting out

If she comes out with spud date, and rig crew this morning - it will open at 12-13p, let alone reach it

You do all realise that they do not need to announce a rig crew, this is not price sensitive? It would just be PR to boost sentiment. Neither do they have to announce a spud date, either before, or on spud? They have already stated September, so has already been announced.

That said, they may drill it earlier, and the next announcement we hear will be of a discovery, they are under no obligation to release any news prior, as all required information is in the public domain

As LB said, she will update the market when it is 'worth of announcement'. I firmly believe that the rig will be drilling next week, and come September, they will announce completion of drilling, not starting.

May be also worth checking activity at the Tai 1/2 pads :-)

It's very clear there is a crew already lined up, and likely just waiting on contract signatures. There's not a drill crew on the planet that is available at 4 weeks notice, usually booked out 6 months in advance

Crew sorted

I call 10.3 to 10.5 by close

Very little resistance now

10:09 SCAP 100,000 9.4

07:57 STFL 100,000 9.3

09:14 WINS 100,000 9.3

09:20 INV. 100,000 9.2

07:57 MREX 100,000 9.2

08:02 LIBC 100,000 9

10:06 PEEL 100,000 9

09:36 SING 100,000 8.8

07:55 JBER 100,000 8.5

9 Depth

9.5 100,000 PEEL 10:06

9.8 100,000 SING 09:36

9.8 100,000 WINS 09:14

9.9 100,000 SCAP 10:09

10.2 100,000 INV. 09:20

10.2 100,000 MREX 07:57

10.3 100,000 STFL 07:57

10.5 100,000 LIBC 08:02

11 100,000 JBER 07:55

Up we go on L2

Don't matter if it pulls back even to 8, we know where this will be come date of spud, at least 17p - I hold 500'000 shares, and not worried in the slightest - easiest 50k I will ever make in a short time

Cybertron - I've been here since the IPO, hence I know exactly how this will rise in the run up, and when it will drift - seen it all before. This time though max 19 to 21 on the drill, as a few more shares in issue than last time

First of many over the coming days, final shake before it lifts through 10p permanentley

First time it hit 10p is sat there for a couple of days, then they did a raise at 10p, and the SP rose 10%

It's on Wikipedia - it must be true then :-O

Are you on drugs Jock? It’s not seen 4 in years, and 7 is wishful thinking on your part - what a complete flip flop you are

Josh - target price if all drills hit was actually a little over 7 quid a share based on the report last year