Member Info for dai2belts

Mentions electric submersible pumps, and that modelling says 20,000 bofp is achievable..

Cheaper development wells, mmmm they are those drilled in producing areas, but since the explorers were finished as production wells how much cheaper could they be ?

Blue Star have already drilled a development well, yet needed a JV and also to raise from the market while lorna mentions bank finance.. ??

Mentions the need for more funding, project finance,, but how much, if any would a bank risk until they have a proven success rate driving producers..

Maybe another placing for an appraisal well first ??

MMMmmmm, 7 minutes she is talking about drilling 20-30 production well claiming they are cheaper.....

but they have just one discovery, so don't they need appraisal wells to prove the area containing helium before infill drilling ?

Then 30 wells is 50% more than 20 so a vague figure..

If all these wells are in Itumbula, as she is talking production wells, not exploration(other licences), can they really avoid re-injecting water without impacting the water table?

I believe the choke is used to control pressure fluctuations to ensure a sustained flow rate, as Just-us mentions, likely the optimal rate

Lots of Umms, by the time they mention utilising the water instead of injecting or disposing of it my stomach was saying urghhh... umm, not sure about this

https://www.youtube.com/watch?v=s7T5h4qi28c

MMMMMmmmmmmmm.. long winded updates obscure the finer details...

They talk about a ML, so that has to be a Itumbula, maybe the 1st licence..

Positives economics comes with artificial lift based on current results.

And 20-30 wells across the region, so is that Rukwa, or Itumbula, or something other, but it could mean more MLs required before commercial..?

Preliminary economic and subsurface modelling by the Company demonstrates positive economics with artificial lift, and what is anticipated to be in the region of twenty to thirty development wells in the production phase. The data continues to be evaluated by the Company's subsurface team and will be integrated into a Feasibility Study, which will form the Mining Licence application, and demonstrate to the Mining Commission of Tanzania the viability of the Itumbula Project. The Application will be submitted in the next two weeks.

Share holder approval !

What's wrong with a Cash Box placing ?

@Bonzo,, lol ,, they gave that in cubic feet helium, then this phases Karoo in barrels of water....

March, 0.5 mmscf/d, was calculated from the DST sample,... they said it flowed, but gave no details to the size of sample collected or how long that flow lasted..

So for comparison 0.5mmscf/d is 500,000 scf/d,

@Bluebay, sounds like they did'nt flow both zones together...

Following the completion of the EWT across the fractured Basement, A SHORT CO-MINGLED TEST OF BOTH INTERVALS was conducted. Gas samples were collected at regular intervals throughout the EWT operation and will be used for additional laboratory analysis as and when required.

@HereforHemo, Not sure about your comment as they stated the maximum flow rate was achieved using a joke, so that could mean no choke gave a lower value,.. but who knows for sure

" The well flowed naturally at a maximum flow rate of 2,701 barrels per day ("bpd") of fluid on a 36/64ths of an inch choke setting which equates to 834 standard cubic feet per day ("scf/d") of helium"

@PatShare , your not a buffoon, they are telling people they are applying for exploitation rights ?

Pleased to confirm a helium discovery following completion of its extended well test ("EWT") operations at Itumbula West-1 ("ITW-1") which successfully flowed a sustained average of 5.5% helium (air corrected) from the fractured Basement and flowed a sustained average of 5.2% helium (air corrected) to surface from the faulted Karoo Group.

The well was flowed naturally during the testing and based on the recorded flow rates, with the addition of artificial lift in the production phase this becomes a globally significant helium project in southern Rukwa.

The data continues to be evaluated by the Company's subsurface team and will be integrated into a Feasibility Study, which will form the Mining Licence application, and demonstrate to the Mining Commission of Tanzania the viability of the Itumbula Project.

The Application will be submitted in the next two weeks.

@Xviolet are you cynical, perceptive or both ;)

@Bonzo, there was a RNS in March to follow up Febs RNS

· Drill stem test ("DST") results carried out on the Itumbula West-1 well calculate a minimum flow rate of 0.5 million cubic feet per day ("mmscfd") containing 4.7% helium

https://www.lse.co.uk/rns/HE1/forward-operational-update-79nypnabp0qn8yl.html

Its not clear but I took this to mean they were flowing both zones together for the final testing,

"The Company has now moved to the Basement to continue the EWT at that interval, including opening up the well fully to obtain a maximum flow rate. "

Then they finally mention Karoo, Basement and Well...

· Fractured Basement interval flowed a sustained average of 5.5% helium (air corrected) to surface and up to a maximum of 6.7% helium (air corrected)

· Faulted Karoo Group interval flowed a sustained average of 5.2% helium (air corrected) to surface and up to a maximum of 7.9% helium (air corrected)

· The well flowed naturally at a maximum flow rate of 2,701 barrels per day ("bpd") of fluid on a 36/64ths of an inch choke setting which equates to 834 standard cubic feet per day ("scf/d") of helium

But its not 100% clear, as it does not state its the combined rate of both Karoo and Basement

That sounds a plan.....

Only thing that bothers me, is if the licence news will see 20p again...

I remember JSE kept hitting the same peak expecting Montana news, it was delayed time and time again, then when it finally arrived a long term down trend followed from the dip that I bought, only if it was delayed one more time...

Not sure its shafting as her roll is to get the job done, and that means raising money but her team is getting amongst the worst deals to be seen on AIM for the PI, but fantastic for the city boys,,,the big discounts followed by multi bag rises... yep your right shafting the PI, well unless your wise to the game...

Next year, hopefully an artificial lift assisted EWT, that should see some real FOMO, as 6mcf/d will be expected, thats $3000- $6000 per day, $1-2m year revenue off a single well.. then there should be another appraisal well to prove up multiple wells, but not sure how many times you can tap the same fault line if thats the source.. Could your consider it a stream or brook, if so too many and you will suck it dry ?

Maybe they will attempt deepening followed by an EWT at Tai, as that will give two carrots,

Suggests to me there is a possibility they are looking to generate cash from smaller discoveries..

The question is will they attempt to discover a conventional trap and seal or purse the water based discovery, if the later then that CPRs 138bcf is in question

No games here, if I wanted to have an impact I would post when traffic was lower, reducing the chance of my comments being drowned out.. And I would keep repeating my message daily, especially on the weekends..

You did'nt see me ramping, posting this is the next big thing when I was holding, and you did'nt see me posting they were likely flowing water when I was out, which I posted elsewhere weeks ago... Shame really as I would have saved some people money, this time..but I could have been wrong..

this BB posts very little project related stuff, so is probably full of traders comments, otherwise people would have been all over the hints they were flowing water in the docs

Roger your always defensive.. Pat asked my view I have given it

Its a balanced view, offering no advise either way...and clearly reflecting on some of what's happened,

I could write a lot more of the negatives, but as I say I have no idea if they can or can't bring that well up to 6mmcf/d.

But I do know for sure they keep out smarting most playing the info game

@Patshare, maybe they will slow things down in Tanzania, for example 88e needed to stimulate their discovery, so that happened the following winter after the test design period.. But that flow test became a proof of technique, not the production proving test that people were expecting...

So its all guessing for us

@Patshare, I wrote off my losses, and just trade it now as you are always left guessing what they are up to..So I am out until next time... Its AIM

Before the EWT they gave a helium flow rate of 0.5mmscf/d(calculated), no mention gas was exsolved from water until after Shaun(Noble) brought it up in his presentation.. Then during this test phase they initially gave the 1st result in barrels of fluid, and that was the 1st time it was clear they were flowing fluids..again with holding info.

Always seems to be games, best was Fridays no rig update, the logistics to get that predator into Tanzania must have taken weeks to organise, and would have been all but sorted before that announcement..So for it to arrive the following Monday morning, just unbelievable, but it dropped the sp 50% for it to double the next trading day, thats big money for somebody..

And so much for the 0.5mmsfc/d, now 88e gave something like a 50bopd flow rate during their test but only collected about 4 barrels of oil over the period, but at least they did put that In the results if you read deep enough

I have little knowledge, just picking up stuff following different drills,....

I guess they have to prove artificially lift next,, its okay to suggest sticking a pump down the hole, but it can only push out what it receives.. I guess a pump lessens the weight of fluid down the hole reducing pressure opposing the incoming fluid.. Would that improve 834 scf/d of helium to 6,176 scf/d of helium, ?

Anyway they have not said what this lift would entail so I don't know,...

I suspect more testing is required, but maybe they will drill elsewhere, looking for that Helium filled reservoir.. The question is will they have that haste to get it done, that same haste used to justify that 0.25p raise..