RE: Calling Dai and Prae and Trek (of course)30 Apr 2021 12:19
@ITV, thanks for the reply, it links the estimates to the testing for me, and probably a few others.
When I first bought in on the 7p-£1 suggested in the report, I thought drilling mud was mud, and mud logs were made by a pug mill. I wondered about the CoS more and more as the price hovered around 8p and hardly anyone posted, thought I had a duffer. I also wondered who the enthusiastic Trek guy was, he kept popping in.
Itumbula is near the ~10% helium springs and 4.2% is used for the ~5bcf(P50) estimate.
So Itumbula could make up a lot more of that 18bcf suggested for the 3 exploration wells.
Not sure exactly sure how they estimate bcf, as using a helium content assumed to be 3% in the P90 case, 4.2% in the P50 case and 4.9% in the P10 case it is not obvious how these figures are derived..
Itumbula bcf -P90,P50,P10
unrisked ------0.4, 5.4, 33.6
risked-----------0.04,0.5, 3.3
doubling from 5-10bcf is still way off the P10 value
But without all the pieces in place ......