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My interpretation from rns is...
Its clear they hit the fracture, they had to stop as realised the fracture was causing drilling mud to be lost as it was disappearing into fracture, the fracture is open then and gas will move to hole freely, so combined with multiple cumulative shows wire logging it underway :-)
mud losses encountered once we had reached the fractured Basement
"The increased frequency and quality of helium shows with depth have bolstered the company's confidence in the well's potential."
Multiple areas for testing, cumulative shows will add up to discovery rns shortly imo.
There will be some who called it all wrong and are bitter, they will be desperate to cast doubt so they can buy in. The rns clearly states the facts, i implore those who get upset by the de-ramping bitterness to keep reading the rns, its looking highly likely we have a discovery.
"We're very much looking forward to commencing wireline operations and further evaluating the well."
Loss the drilling mud because it entered the fracture. lol. Happy days.
"The decision was then made to call well TD at this stage, whilst the wellbore remains in good condition, and to run wireline logs and take downhole gas samples."
"We're very much looking forward to commencing wireline operations and further evaluating the well."
Looking good at moment, sells being mopped up, suggest perhaps a buy order being filled?
Any large buys will suggest news is good. One thing for sure we have had huge churn of shares of the last few weeks, any positive news and it will boom imo, especially with Itumbula imminent.
Any selling on good news will be jumping back in much higher for next drill.
Not long now, either bad or good we will know very soon.
Taken off AIM and so private company is your choice. Its a removal of choice to the average PI, Shearer could have raised on AIM but no he obvious doesn't like the responsibilities of being a listed company.
The Board considers that Tintra would be better able to raise the capital it needs to develop the business as a private company. As such the Board of Tintra intends to convene a general meeting of Tintra shareholders in order to obtain the requisite approval to effect a cancellation of the Company's ordinary shares to trading on AIM, in accordance with Rule 41 of the AIM Rules for companies (the "Cancellation"). A further announcement will be made when a circular to shareholders is published in connection with the Cancellation, it is expected that this will be during November.
"these companies are joined at the head"
"They own of all four companies in Tanzania"
What's this all about? Is @Skittish believing that all D3, Noble, HE1, Pulsar are owned by a single entity?
Perhaps I can inject that perhaps the original HE1 people had a fall out with Stalker and decided to go their own way?
I'm not seeing how all 4 companies can be linked by a single entity.
With an additional 400m from seismic prognosis, 100m remaining to drill, does that signify the Karoo layer is 400m longer because basement not reached or is it the basement itself is 400m longer?
The basement has never been drilled by anyone before according to ERCE report.
Thanks Lotus, bloody good read and source
https://www.helium-one.com/wp-content/uploads/2023/05/230519_ERCE-Tai-Helium-Prospect-Report-FINAL-client-release-signed.pdf#new_tab
Pg. 15 has picture of drilling targets for Tai.
Tanzania government would love the worldwide recognition of having helium to supply the world for years. Look what O&G did for many poor countries, it is transformational.
I have a sizeable holding and I have freed up funds to pile in if results good...its all to play for at moment, watching trades like a hawk :-)
Lotus, I'm tending to think that the basement has something to offer, as why drill additional 400m if Karoo is primary target?
the Weathered/Fractured Basement is listed as a reservoir, so there's 400m that more than "prognosis"!
@KeithOZ spot on. People should look at the sources of information and I consider this publication on helium and how it produced and migrated https://pubs.geoscienceworld.org/pg/article/28/2/petgeo2021-029/610750/The-principles-of-helium-exploration
"The Tanzanian section of the East African Rift System (EARS) is an exemplar region where all of the characteristics for development of a helium resource are met."
"The Rukwa Basin is of similar interest; it has recent rifting and is proximal to the Rungwe Volcanic Complex from which there are reports of nitrogen- and helium-rich gas seeps"
I much prefer the more learned expert journals than a BB post :-)