Member Info for dai2belts

I dont have a clue how long it will take, but I bet its a lot longer than they make out, especially if it all needs to be manufactured..

By not flow testing they have already lost about 6 months, and I doubt they will commit to ordering until they know what they have, so could be 2024 is all appraisal work... Look what happened to IOG, one resource smaller that thought, plus Southwark, both wells issues, abandoned for now, I think..

I dont know enough to really comment, just they make it sound so easy..

But I bet they will be raising as much as the they can next time..

Lol, yep..

Not sure what to think, but reading the RNS there was no flow test planned..

Back then with all the difficulties getting a rig why would'nt you plan that in case of a discovery, unless your lifestyling as its just hindering progress by missing a possible opportunity to get the job done.. So we wait another 6 months to flow, if they intend to..

Yet the Proactive article has Lorna suggesting 18 months to production, ??

I guess we need to wait and see if they still intend to finish it as a production well

Taking a dive today, thats an unpleasant story 40p to 2p, so much bad luck

@ IG, I recall that Noble video, if the were talking $4m Aussie, which I thought they were then thats £2m ?

88e are returning to flow test winter time, we will have to watch that to get an idea of the costs..

I think they are using the same well..

I wonder if He1 have been allowing us to mislead ourselves, with talk of ordering the well heads and finishing the hole for production , so thinking it will be ready for connecting up...

You need the well head to mount the BOP, which there is no mention of using in phase 1, then later the christmas tree

@Horult, I think cementing, and mud would be drilling service, not part of formation testing

This typical He1, nothing is ever clear, creating an obscure abstract picture, letting you choose to see what you see,,

If its £2m to wire-line and only sample gas, how could they have ever expected drill and test 3 wells for $5m in phase one, thats +$6m just for testing, without drilling, mud and cementing services, plus the bits

Okay Found this ( no flow testing)

Drilling is currently targeted to commence in Q1 2023 and is anticipated to take approximately 1 month, including wireline and downhole gas sampling, with the results to be announced at the end of the well.

Brings that £2m, into question

It must cost a fortune to return and flow test the same well, unless rigless testing is way cheaper

Drilling rig: £2.07m

· Drilling services: £0.75m

· Formation evaluation: £2.05m

· Drilling ancillaries: £0.35m

·Civils: £0.36m

Tax: £0.88m

· Additional working capital: £0.99m

@KevR, they will be logging, but it looks like they are doing reduced testing, similar to Noble, and He1 phase 1..

Also phase 1, was to drill and exploration well, discover, cap the well, then drill an appraisal well..

Lorna talked about an appraisal stage, so could be make a discovery, then drill a series of wells to map out the closure..

As we have seen the second well can proved the closure is non commercial ..

I think 88e, has a reputation for announcing oil(jars of) then the appraisals duds

@Horult, I read back, also could not see any mention of flow testing..

But the well was to be finished for production, and formation testing costing £2m..

While I believe Noble said full testing was $4m, if they were talking Auzzie$ that is £2m..

Also PRD appear to be drilling and logging for close to +3m, while He1 were costing +5m

So thats why I was under the impression Tai would be reading to go, not requiring further appraisal before production..

I guess that will give months for the price to fall, while they possibly resubmit Tai data for an upgraded CPR, followed by appraisals...

looking at 88e, and DELT, more reason to sell, and buy back later ?

Maybe a discounted raise, will trigger a drift lower as the project is paused until Q2 '24

Whats your thoughts ?

Interesting article, seems to be written to a new audience..

That rig was up for sale before the Audit......and the 100% rise courtesy of no rig/got a rig..

looks like a change to testing plan, its not clear though..

Noble are doing a Mini-DST, so logging and sampling gas, plus down hole pressures, its cheaper..

Now He1 are logging and sampling, and wrapping up to study the results while I was under the impression £2m was for full testing..

So looks like they are looking to announce a discovery, which I believe is just a show within an area shown to be reservoir sands, I guess trap & seal.. So could be a non commercial discovery, until flow tested..

So I guess they dont have the cash for full testing anymore, and they intend to raise on the hype before fully proving the well..

https://www.proactiveinvestors.co.uk/companies/news/1021239/helium-one-will-shortly-be-drilling-at-rukwa-and-this-time-with-its-own-specialist-rig-1021239.html

I was brushing the dog, was reading this BB just before Horult posted, it was 16% up so gave it a miss.. Its good news but still going to be some time before they drill..

That a fair few late RNS with nice rises now, would give KevR his 100% a year gain, just sitting back watch for late update

PREM, ta, I thought it was Vast, Thats the one where the mines construction contractor needed to make enhancements to reach targets ?

He1 BB needs enhancing, its just rampers talk, and people complained when HappyDaze asked about other opportunities lol

Https://uk.investing.com/analysis/5-key-takeaways-from-latest-drilling-productivity-report-oil-traders-should-note-200584728

@Horult, did you buy, when I watch they dont happen lol

Which was the miner where production/plant was delayed, and off-taker(chinese) decided not to wait ?

Thats easy to answer, you extend the time for your investment to get MSC over the line, if. Buying through the market or via the OO is just a few pounds difference in your case.. The full amount, about £60 a weekends beer money with a takeaway..

You good always feel charitable and take up £1 ;)

@Tro, could do with Biztech on He1

There are more posts on here today than supposedly the hottest stock of H2 2023..

He1 BB, just sp talk, lacks any depth, unlike like phase 1. Plenty of claims but nothing to back it up..

Maybe a bit of negativity is needed to flush out the silent experts, to explain all the hard work thats been done..

When is Keith back off holiday, could bait him ;)

Interesting finish, I was quoted 9.345p to buy on the bell..

I suspect last 3 are sells

https://invst.ly/10p-nf

19-Jul-23 16:37:38 9.30 250,000 Buy* 9.00 9.40 23.25k O

19-Jul-23 16:37:10 9.25 200,000 Buy* 9.00 9.40 18.50k O

19-Jul-23 16:35:06 9.30 505,000 Buy* 9.00 9.40 46.97k UT

19-Jul-23 16:30:00 9.345 6,000 Buy* 9.00 9.40 560.70 O

@KevR, we will have to keep scores LW vs Horult lol

@Horult, I can sell them as soon as there is another blip, or even at a loss,,

Its a difficult one as MSC have bought their ship/s for the trial, if it was'nt for that I think the open offer would fail. And its the first time I have seen an open offer being significantly more than the placing.. I see that as a bad sign...

Now if the Morocco trial fails, although it is a different application(ovens) to a ships engine, I think it could possibly have an impact, at least on confidence, first trial in years, a fail... Makes you wonder if they scuppered their own trial, at least until after the fund raise, especially seeing the proportion the II contributed .. And there is no evidence of them being on site, not seen a single photo posted...Without MSC I would say scamming lifestylers lo

@KevR, your recruiting is better than your trading ;) LW

@KevR, thats a great recruit you brought in :)