Member Info for dai2belts

Little rockets uses $4mm
Big rocket $12mm
Now thats what you call burning money..

If we see a fund raise, that could be to put aside some funds to explore further, its been suggested, seems a reasonable backup.. But I feel confident..

bottom of the beer glass now,,
"Helium One have received a preliminary engineering and costing report for a helium purification and liquidation plant."
DME conservatively expects it would be able to sell purified gaseous helium for shielding gas (typically Grade 5 or 99.999% pure) for at least ~$550-600/Mcf, net of expenses.
DME expect the plant cost to be just C$33mm, thats US$26mm, page 13..
Makes me think He1 Us$50mm plant is going to be a monster when we just need something half the size for £3.50 per share...ramping again..
Need to check out what H&Ps $250/mcf is, to compare..
But looks like its only painting part of the picture, not the sunniest parts..

@noob67
Did you read page 8?
A large "salt" basin
8-10% helium, 90% nitrogen, and 1% CO
the most prolific , producing 6.5 Bcf from 11 wells with the largest well producing an average 304.7 Mcf/d of helium over the 15-year period.
We could have up to 7 wells in a 10km^2 field..which I believe is the largest in Rukwa..
Sounds so similar, so promising..
DME are moving fast..like He1
Air Geo survey April 2020
2 wells drilled and tested Summer 2020
Aiming for production/sales Oct 2021

Interesting facts
Crude Helium f2022-4 C$350/mcf( US$277.56)
in 2019 US used 1.4 bcf, 30% in MRI.

Its a good read, just the way its worded gives you a better understanding of the industry..

My notes up to page 7 to make your own comparisons
All Canadian dollar
DME has >100 sections of leases, some records show up to 10% helium by volume
Completed exploration at 2 wells, including testing.
The presence of significantly high helium content (>7%) with short-term flow rates exceeding 24MMcf/d of raw helium.
The two wells to date..
24.2mmcf@7.1% is 627,143,000cf/year or 6.27bcf/10 years(I believe raw helium ?)
1.3mmcf@4.1% 19,454500cf/year 194,545,000/10 years
Crude Helium f2022-4 $350/mcf( US$277.56)( roughly our basis)
Forecasted mc 58mm shares @ C$4.25=246.5mm
current 58mm shares mc C$103.2mm
first production Oct 2021
building plant to process the 2 exploration wells plus 4 more

in 2019 US used 1.4 bcf, 30% in MRI

Air Geo survey april 2020
2 wells drilled and tested Summer 2020
Aiming for production/sales Oct 2021

Thanks Prae, thats where I got most of my info from, but only after being prompted by comments you and a few others made..Realised I did not have any idea about the size and locations of the targets, gases in the wells, and probably lots more, even though I had read everything previously, too much, too quickly. I am probably not the only one so post what I find, if its incorrect then it would be good to be corrected. Never too old to learn, and I am the newbie here, but with some extra spare time.. Anyway it is interesting.

Just some notes I made, might be of interest, might not be accurate,,

Lake Rukwa is an alkaline lake and contains salt pans by its southwestern ends. Like many salt lakes, Rukwa has no outlets and many inflowing rivers that can bring salts. Offering a high likelihood of salt seal occurrence.
In 1929 it was only about 48 km long, but in 1939 it was about 128 km long and 40 km wide.
Last measured it was roughly 180 km long, averaging 32 km wide, covering 5,760 Km^2.
The Rukwa field is 3,448Km^2, located in, and around the southern half of the lake.
The 3 prospects, Kasuku, Mbuni and Itambula appear to be on the southwestern end of the lake, on an old dried up bed.
Itumbula springs show 8%-10% Helium.
Using the Geophysical heat map presentation, with Mbuni as the reference, adjacent Kasuku is ESE(~5km away), while Itumbula is ENE(~10.5km) with Chiriku and Mizizi in-between.
Mbuni is expected to have a higher unrisked(p50) yield, 7bcf compared to the others 5bcf each, but this is risk based using 4.2.% helium by volume not 8%- 10%.
So drilling results could give significantly higher bcf values especially for Itumbula(springs)
Starting with an initial exploration well, there could be up to 7 production wells in a 10km^2 field.

https://earthobservatory.nasa.gov/images/145194/a-tale-of-contrasting-rift-valley-lakes
https://en.wikipedia.org/wiki/Lake_Rukwa
He1 Docs

Agree. reported ~10% especially at Itumbula but the 138bcf has been estimated on 4.2% by volume, so Itumbula's bcf could be closer to 10bcf, than 5 bcf.. Worth checking the H&P report, I might have got it wrong..
I guess there will be variations though as the Rukwa field is 3,448Km^2 , you can fit the Isle of Man in there about 6 times,
not that I can visualize that...
The 3 exploration wells are quite close though, Mbuni to Kasuka about 5km, Mbuni to Itumbula about 10km, thats based on the Geo heat map in the presentation..

Will have to pop out for some beer to read Noob67s attachment.
DME do have a lot less shares though..
So looks like 3 prices for helium depending on how it is supplied, raw, crude, or refined..
The company would have the option to be able to sell “crude” (or raw) helium which has
fetched prices between US$200-300/Mcf (~$265-400/Mcf). able to sell purified gaseous helium for shielding gas (typically Grade 5 or99.999% pure) for at least ~$550-600/Mcf, net of expenses.

Page 19 H&P Resource Potential...
In aggregate across all the prospects, the helium content is assumed to be 3% in the P90 case, 4.2% in the P50 case and 4.9% in the P10 case.
The aggregate kind of makes me think..that individual prospects like Itumbula might use a higher value..?

Elsewhere it quotes P50 as 4.7%, its nice to see the professionals are human too..

Itumbula, worth way more than a few million...
Brains fried..cant do numbers today
Report Estimates Itumbula to be worth $235M unrisked.."IF" thats using 4.2% helium by volume in an area with up to 10%, then we could be in for a big bonus..thats IF..

Whats interesting is the 4th drill and Itumbulas Geologic cross-section interpretation, page 21 H&P initial Coverage Report
If the diagram is true to reality then there looks to be a requirement for 2 wells, one with 3 targets(plus near miss) at 3 depths, and the 2nd well 2 targets. Then there would be 3 more targets untouched..

Dont confuse me ;) brains hurting today and browser is crashing, and I cant convert bcf to mcf today, coming up with an unbelievable big number..nice number, too nice...£3-4Billion for 14bcf@$250..need to check again
Less variable and more predictable?,, I just regurgitate info from the docs,
If I have misunderstood then hopefully some one will enlighten me :)

It seems that Rukwa and Balangida have seeps showing ~10%
Then the report uses 4.2% by volume for the 138bcf estimate
So I guess 4.2% is quite conservative..
Itumbula has 8%-10% reported in the area..
So its going to be worth a fortune best case

start again
But on the volume and percentages, I have interpreted it as:-
XBcf is the volume of actual helium retrievable out of the whole mix of gases in that well.
If this was based on an estimated 5% helium by volume giving 7bcf, and it turns out helium makes up 10% of the gas then you will have 14bcf out of that well..
The P50 estimates have been based on 4.2% so since Itumbula has 10% springs in the area that 20p could look cheap..
So Itumbula alone could be worth $3-4M @$250mcf -10% helium, of course it could be a lot less worst case..

This my first exploration stock so comparing with NG means little to me at the moment.
But on the volume and percentages, I have interpreted it as:-
XBcf is the volume of actual helium retrievable out of the whole mix of gases in that well.
If this was based on an estimated of 5% helium by volume, and it turns out helium makes up 10% of the gas then you will have 14bcf out of that well..
The P50 estimates have been based on 4.2% so since Itumbula has 10% springs in the area that 20p could look cheap..
So Itumbula alone could be worth $3-4M @$250mcf -10% helium, of course it could be a lot less worst case..
Anybody know where they are drilling first?

When I mentioned the below, I should have said production stage..
"The prospect closures range from 1.7km^2 to 10km^2, which suggests 1-7 wells per field" That is based on 1 well every 1.3km.

So much info in many different docs, its a little overwhelming when its all new stuff..
Found this quote..
"The prospect closures range from 1.7km^2 to 10km^2, which suggests 1-7 wells per field" That is based on 1 well every 1.3km.

Thanks for replying, seen diagrams showing each as individual prospects, and each is listed with its own potential yield so I assumed 3 different sites within Rukwa, not targeting 3 different points of the same reservoir.?

Whats the CPR abbreviation?

Whats not looking good?
We were having the smaller exploration drill, now we can drill the larger appraisal wells, plus an extra hole thrown in..
Things are progressing to plan, and as a bonus the sp has dropped back near to resistance for those topping up in line with progress.

I have been reading and learning a little, came across how multiple wells are used to help find the best location for the production well.. just so much information and I have no experience to put it into context.
Now I also wonder about your question, and the fact there is just 1 exploration well, at 3 individual sites?.

There are 3 shots per drill, the deepest target will be relieved to see that drill bit..

A better description from the Norwegian petroleum directorate

Exploration well: a well drilled in order to establish the existence of a possible petroleum deposit or to acquire information in order to delimit an established deposit. Exploration well is a generic term for wildcat and appraisal wells.

Appraisal well: exploration well drilled to establish the extent and size of a petroleum deposit that has already been discovered by a wildcat well.

Development well: a generic term for wells used for production of petroleum, production wells, injection wells and observation wells, and possible combinations thereof

Production well: a development well used for production of petroleum or of water for injection purposes.

https://www.npd.no/en/facts/wells/well-definitions/

Somebody asked about appraisal drilling, something else I know nothing about..

Exploration drilling is essential for obtaining actual temperature measurements, rock samples, and retrieving fluid samples for chemical analysis. Very important when determining the best locations for drilling

Appraisal wells are drilled only when a discovery is made, with the motive of assessing the size and viability of the reservoir, its expected production rate.. Have a higher chance of success and are more expensive than exploration wells.

Development wells are drilled for the production of oil or gas already proven by appraisal drilling to be suitable for exploitation.

Production well: a development well used for production of petroleum

looks like the second highest volume to date,