Member Info for CrustyPete

Bridgedogg you say "EWT are not that expensive, maybe £3000 a day, so £120k for 6 weeks. "

Can you show evidence for this assertion?

So in the company's own words:

"The company led placing provides the Company with sufficient working capital to progress its planning for the next stage of the work programme in Tanzania."

" This placing enables the Company to determine the next stage of its work programme following the success of the Tai-3 and Itumbula West-1 exploration wells."

So the Company has pointed to the fact that the recent raise is designed to get the company thrugh to the point of completing the EWT and, potential, another appraisal drill and NOT to complete those work items - so believe what you might but I suggest that the RNS above suggests there may be another raise before the EWT and certainly another one before the next drill.

Moreover:

"Helium One is currently working towards an EWT in Q3 2024 on Itumbula West-1 in order to confirm flow rates and the fluid composition. Conditional upon these results, the Company will then be in a position to advance discussions with off-takers and industry partners and will help determine the design of any future production facility."

So quite emphatically, only after the above will they be in position to complete any JV negotiations.

It has also been stated by NHE in recent negotiuation that their conversations with JV and off-take partners are purely for funding or partnering for down stream Capex NOT for drilling costs. I would be amazed if He1 discussions are any different

So just be careful of those claiming their will be no need for a raise in the short term; no-one can say that there will be one or not but all the evidence suggests that there might be.

Oh look strong buy rating and from only one analyst and that analyst being the Company's own NOMAD. So much for consensus eh and impartiality? Wow feckin' whee!

Yes it did but it only lasted two days as I remember...

Repetitive, banal, vacuous drivel and consequently as useful as a chocolate teapot.

Alternatively RogerJolly go here https://www.grimmstories.com/en/grimm_fairy-tales/index

It won't be any less accurate but far more entertaining and less repetitive....

Indeed so Roger65, there have been umpteen similar such rises in the states some of them with far larger volumes and values but not once have they been replicated in the UK and for reasons discussed here frequently. Indeed the correlation seems only to work in reverse (no surprise), if at all; the UK is THE market.

Orslega - they may well have a conceptual model of the basin and a better idea of resources but until the EWT and one or more appraisal wells it will remain conceptual. Will they take tat to market? A moot point I would suggest - they might decide that until the EWT the market will not consider it "valid"....?

I would hope they do make it known but would not be surprised if they choose not to. That said we have been told to expect "news" in the near future and I cannot think what lese it is likely to be - unless and until we hear about the capital raise. I would hope the modelling will have been completed and socialised before that as I hope it will make the raise easier to get away - and, ideally at a higher sp.

I would agree with your third LOTM, para "The presentation & Webinar would allow us to see the full results of the 3 DST's, where they were within the well, the amount of "net pay" they think they have, well pressures & the actual flow rates per zone (rather than a put together number)." But evidently the company have not chosen to reveal that information at this stage and whilst I do agree that it would be both interesting and useful I doubt we are going to see that before they come up with the new "basin model" and resource estimates if at all.

I agree that their obfuscation of this and other details is disappointing but fear it is unlikely to change - they seem keen to "control the message"...

Agreed LOTM, the spare/ replacement parts not part of the EWT.

Asa regards the long lead items - I am afraid I cannot answer that - as we do not know what they have and do not have - however that is the party line and part of Lorna's interview. What more do you think they are going to tell you?

Do we even know that the wire line stats and analysis have been sent off for testing to an independent body? I don't think we do; the last we heard they were ready for sending but no confirmation that they have gone; Moreover what are an independent body going to tell us that is not already known and "out there"? And many seemed to think that information was somewhat underwhelming - 500,000 scuffs per day at 4.5% is marginally "commercial" at best - look what they did for the sp!! I don't think it will make much of a difference whatsoever.

The EWT is now what the market is waiting for; a material increase in the flow rates and reserve estimates is what the market now needs.

The point being that, before we get the figures the market is waiting for, in my opinion and that of many other posters on this board a fund raise is definitely on that cards.

If (big if) we have the cash for an EWT only, that would be fantastic, as it would surely mean that (assuming successful upgrade) we could get the fund raise away without a major discount to the sp.

The company has already told us why Q3 LOTM - they need replacement/spare parts for the drill and to order in long lead items for the EWT / appraisal drill. Nothing new there.

Orslega "As the company broker I guess they would have better knowledge than most,"

They also have the greatest interest in "pumping" it - that is exactly what they are "employed" to do...

Lol, right on cue!

I might tend to agree with you in regard to his/hers and many others posts of a similar nature, +ve or -ve but I would not choose to "censor" them; I have he unfortunate experience of having witnessed some of these posters having been proved totally right - most by total chance than rational thought! BUT for the uninitiated they may have some value (even if I struggle to think what it might be!)

I certainly would not demand that people "go away" simply because I do not consider their comments or opinions meet my "value" criteria or satisfy my own confirmation bias; I am neither an arrogant prig nor a thought censor.

As I said the other day, Warrie better not to assume that your own, simplistic self-interested motivations are shared by everybody on this board. Some might just be happy to speak as they see it, not motivated by their own self-interest but actually looking for a rational discussion. Don't tar everyone with your own partisan brush.

I am very invested in this share Warrie - at least in my terms, maybe small potatoes for people with deeper pockets but I am and have been invested in He1 for some considerable time; though the extent of my involvement has varied over the last three years. It peaked after the 70% dilution with over 4m shares and I will admit that I "top-sliced" subsequently. I now have only 2 million shares and have been adding (and will continue to add ) on the dips but that, for me, is "considerable".

BRB I thoink they will need a lot more than £5m - as Joe80 says NHE are anticipating a spend of $14m for two drills and an EWT. Now I know we have our own drill which should reduce that but what might that be as a percentage of MC when the time comes?

Sorry really must dash.

Well it goes without saying RJ that none of us has that crystal ball. Will the modelling and resource news be good and sufficient to push the sp up? I hope so and expect it to be so. My bigger concern is around the timing and impact of that release and the fact that it will probably still require the EWT and, maybe, an appraisal well to prove up those modelling and resource conclusions. The statement from James Smith about there being news in the near future somewhat allays those concerns but, as we both know RJ, one person's view of what constitutes "near future" and another's can vary wildly. If we do not see that in early April it might be too late to stop the slide.

But I have no issue with either of your points below; I would agree with them particularly the second of them, that is the critical issue and add a few more. One was alluded to by Basil earlier - that having cash in the bank would put us in a better position for negotiating with JV and off-take partners (though if it all gets spent on EWT etc is that much of a advantage?).

Sorry must dash RJ, I have a train to catch.