Member Info for CrustyPete

Yes the MM's saw him coming a mile off.... 1.25 - 1.45p. What a ridiculous spread; a defensive position awaiting the next momentum shift. Up or down that is the only question - and that depends, I suggest on how long we have to wait for the Pipeline initiation. My expectations have been quite limited since last years AGM and quite rightly so as it has proven but I was expecting the TPDC to start work on the pipeline by the end of March or very early April at the latest - so if I am not to be proven to be one of the rose tinted spectacle brigade I have only week or two not to be proven totally unhinged.

Ah?! Maybe that's it - establishing a capital loss!! SCLP, 4D and Redx.... pity that I don't have a gain to offset.

End of Quarter and end of Financial year - Funds / DFM's rebalancing? Retail investors selling out of Funds? What? It seems never ending.

Where oh where are all these sells coming from?! And why?! Why would you be selling at these levels unless you had a very good reason to be doing so?

Yes and I held both though only 4D pharma until the final denouement! SCLP was supposed to be my way back...... or will it be my third biotech disaster in a row?

Will do punter👍

I am simply recalling the conversations of the time and will get you the necessary reference when I can.

Sorry Hepseal I am on a train currently and posting using my phone. I will try and find the reference that you request when I am back in front of a PC later today. Unless someone fancies answering Hepseal's request in the meantime?

Actually wyndrum, whilst I agree with your basic premise, the reality is that currently there is Zero income and yet the MC is circa £60 million; if your valuation methodology were entirely true, He1 would currently be priced at Zero. In reality the pricing here is far more about future expectations than the "current" position and is always likely to be - it is only mature businesses with predictable income streams that conform to the multiple of income valuation methodology that you refer to.

Moreover the income of $2m a year does not include the CO2 revenues of $1m and none of the future 9 well drill programme. Assuming that those future drills adhere to the same production expectations that would increase annual revenues of circa $9 in total. So even accepting your somewhat questionable valuation model that would see a forward earnings valuation of circa $90m @ 10 x income. So somewhat in excess of the current market valuation of $80m and which would therefor see anything that we get from Rukwa as upside.....

Hepseal, you say "Helium One expenditure on the six wells is capped at $450,000 each so money should be in Helium One's bank available to pay for the sixth well as and when required."

I think you will find that the first $450k of any well costs are paid by He1 BUT that if the costs end up exceeding that cost the overspend is split 50:50 between BLN and He1.

That said whilst no-one is expecting an overspend, after the weather delays and costs associated with the road improvements I would not be too surprised to see some.

On a similar but different theme - see below.

https://www.anl.gov/article/underground-helium-travels-to-the-earths-surface-via-aquifers-new-study-says

Oh and by the way it is not "new"!

To a point RJ but, on the other hand, raises more questions than it answers....

It was good to see a status report on the CO2 plans too as there had been very little mention of it in recent RNS's. It is a significant part of this whole project adding 50% to the income capabilities of the project.

Incidentally has there been any information published on the expectations of the subsequent 9 well drill programme? Is that just a Helium play or is COs part of that? There is very little information published on the Company website - has there been anything more published through RNS's etc?

Thanks whistler. I had seen that but wondered whether there was any info on it; I have not been able to find anything. No matter, all will be revealed in time no doubt.

Out of interest can anyone reveal (or point to) where and when the subsequent drills are taking place and in what order?

Https://www.linkedin.com/company/blue-star-helium-limited/posts/?feedView=all

Did Pubcrawl write this post?! 😆

🚀 Another Milestone Achieved at Galactica Helium Project! 🚀

Jackson 4 successfully drilled to TD

Blue Star Helium (ASX:BNL, OTC:BSNLF) is thrilled to announce the successful drilling of the Jackson 4 well to total depth (TD) in our Galactica project, Colorado!

Key Highlights:

✅ Gas naturally flowed during drilling and at TD, confirmed by wireline logs.

✅ 62 feet of high-quality, gas-saturated Lyons Sandstone drilled, open at depth.

✅ Samples sent for helium and CO2 analysis.

✅ Well head configuration underway for flow testing.

This continued success further verifies the strength of our Galactica project and marks a significant step towards commercial production.

We're excited for the upcoming flow testing and gas analysis results.

A huge thank you to our team and partners at Helium One Global Ltd for their hard work and dedication!

What a pitiful end to the day. Do you have anything less predictable and tiresome to say Colon? Life in your world must be crushingly dull.

Mr Pump? Which one of the dozen or so rampers is it that you are referring to?!?

Anyway, only a hour or so to go to the close; will we see a tick up for those buying ahead of a Monday RNS? It would be nice to see this morning's spike not totally disappear in the afternoon...

In any event I wish you a good weekend one and all.

"Blue chip tie up for CCS project on its way? 100% financial carry needed!"

And a capital injection if we are not to run out of money before the Cambay goose lays us a golden sh_it...

Why so harsh on Minchin? He is a snake oil salesman. Always speaks in hyperbole, over promises and eternally underdelivers. He would tell you that everything in the world was roses even if when it was disappearing down the plug hole as he was speaking.

I was into He1 in the early days but bailed out early as I though Minchin was, and still is, a con man. I re-entered after he left and have built a position over the last two years. It was once up at 15 million or thereabouts but now sits at 7m having bought in on the (many) dips and placings and then top sliced a few times. Some of those profits have funded my SYN holdings - so profits they are no longer 😡. Bloody infuriating having worked so hard to get £50k profit out of He1 to see it lost in the space of 8 months in SYN.....

I was at the He1 AGM in Dec 2023 when all seemed pretty much lost but bought a stack on the heavily discounted placing - twitchy bum time that was.