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From my limited understanding you can split it 70/30. 70% cost is generally upfront & up to logging. 30% is in the casing & completion of well. You wouldn't spend 30% of the total drill cost in a small company where cash is constrained unless you were sick in the head, out of your depth with no way out or were pretty confident something was there.
"we are confident that by casing the well and suspending Tai-3, we will be able to return at a later date and target the fractured Basement helium play"
Wouldn't case the well if no good, they move to Itumbula but will be back to the Tai basement. Next drill is even bigger now.
A discovery is huge news, how can anyone not see that?
Helium prices are high and likely to remain so for years to come as helium becomes a resource more widely used.
I see a major JV or off taker putting up money and the Rukwa basin will be multi-drilled and wells tied up to production facility. Small steps being taken but the rewards are huge.
Great news on getting string out and wire logging. Some said it couldn't be done...hmmm.
Anyway, i think they will drill further 100m when drill is fixed, they need to test that basement too. But positive helium discovery in Karoo will be v.good. news.
Sometimes when everyone else has doubt is the best time to buy :-)
Powder dry and keep nibbling at the dips and wait, eventually the market wakes up to reality that "some" miners will be making serious $$$$ when as bitcoin moves higher.
Ok, so the hydraulics that power the rough neck is the issue, thanks for clarifying.
Can the drill string be pulled out manually?
I ask because if the rough neck does this (i.e in reverse to feeding the pipes), then can it manually be done like the old days.
Also I think LB gave a bit more away..."positive well evaluation"
"....we are hugely encouraged by the initial results from Tai-3 and are looking forward to a full and positive well evaluation as soon as this issue is resolved," said Helium One CEO, Lorna Blaisse."
Https://www.rigzone.com/training/insight?insight_id=293&c_id=
Looks like a specific piece of kit that can be repaired or replaced.
Our HE1 CEO, Lorna Blaisse, recently attended the @gasworld
Helium Super Summit conference to engage with leading #helium industry stakeholders I hope :-)
Https://twitter.com/Heliumone1/status/1722193594793295970?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
06-Nov-23 09:39:21 5.30 1,000,000 Unknown* 5.10 5.30 53.00k
With Tanzania being 3hrs ahead suggests to me that lunchtime call made :-)
Overall its been quite a tight operation imo. Still have some powder dry, so I'm still watching for any decent trades as we approach next week :-)
Risk. Its keeps many away from high risk shares, or they have a small stake to begin with, once we can de-risk with a discovery then its un-risked, that brings much more of a buying appetite for real longer term investment. This is how small companies grow to become much bigger, through a high risk exploration becoming a success.
Nice quick read on string helium price
https://www.akapenergy.com/post/extremely-strong-helium-pricing-is-encouraging-global-exploration
Hannam's old note gives good idea of valuations
https://www.helium-one.com/wp-content/uploads/2023/02/21-09-08-Hannam-note.pdf
Discovery de-risks the so the risked values become un-risked :-)