Member Info for deep100

Anyone know how far down the line Noble are with their JV because surely the finances have to be in place before any contract can be signed ?

I thought I read on here that Noble would need a different kind of drilling rig due to the terrain of their license areas ?

Taken from last years AGM - 16 th February 2022

The Company continues to be well funded. During the year under review, Helium One completed two oversubscribed fundraises. The first raised $7.8 million when the Company listed last December and the second was in April, raising a further $13.8 million. As at 31 December 2021, the Company had cash balances totaling $9.7 million leaving Helium One well financed to deliver the planned Phase Two exploration programme.

Tried trying to understand the accounting part of this RNS - failed miserably!

2022 was supposed to be our “Discovery “ year & we were fully funded for our 2022 drilling campaign.
Do we know where that $10m went because we only appear to have the £9m that was recently raised left ?
Apologies if this has already been discussed but I must of missed it somewhere!

Aaah - our drilling superintendent- I wonder where he is & what he has been doing for his salary this last year ?

Dai
You’re obviously very angry about the Predator rig - as are many of us - me included- but I just can’t see how they will comment on individual operators unless they are willing to hang DM out to dry - which I doubt they will do !
Also , we might still be in negotiations with them for Q3

Dai
They will say they are talking to several rig operators but can not comment or name individual companies. It’s an easy get out to that question.

“ Engaging with another Operator regarding rig sharing options “

DM turning up to the AGM with this news would of been a disaster & very uncomfortable for IS & co.
A new CEO & renewed optimism moving forward will bring a very different mood to the proceedings
GLA

https://twitter.com/heliumone1/status/1625753077323116544?s=46&t=MrLAgJPUSYbHlzdg7FHDDg

Very quiet here today - no FOMO here !
Even before the demise of DM I wasn’t expecting much from the AGM - let’s hope I’m wrong & a nice RNS drops tomorrow morning

Agree with ART that this has bought Stalker some time . Imagine how hostile next weeks AGM would have been if DM had turned up with no rig contract signed ! It will now be a very different atmosphere.
For me I think there is no way DM has walked away from this voluntarily because this was his baby - he didn’t want to share it with anyone else - he wanted it on his CV that he delivered a discovery. It will hurt him to see someone else take the glory.
But the truth of the matter is that he has balls this up massively & Stalker had to act to steady the ship .
GLA - we are gonna need loads of it !

IMO this means we do not have a rig in place atm - if we had DM would still be CEO . Not looking forward to 8.00 !

Void
I’m not confident that a rig will be secured before theAGM - I think that’s why it’s early this year - they will make excuses.
IMO we will get the “ in advanced talks “ bs again or at the very best another MOU with no definite timeline. I do hope I am totally wrong !
Getting very frustrated- still holding because I’m a believer- but my confidence in DM is waning!

It was the “Inconceivable “ speech on Malcy’s Blog that still haunts me . I will for ever associate that word with LP & bad news !
I am genuinely pleased that LTH may be rewarded for their patience & can recoup some of their losses. I am no longer invested here - took a big hit like many others on that fateful morning .
GLA

Could it be that the Exalo rig was being hired for a 1+1 drill & the predator rig was being purchased outright ?

Legalwolf
That’s a brilliant point & let’s hope that’s the reason they have brought the AGM forward.
This BB has been brilliant just recently & bow to all the knowledgeable posters for sharing their thoughts.
GLA

KR
You may be right but imagine if the AGM was a month later - like usual- & still no concrete news !
By bringing it forward they may get away with no rig sorted yet ?
GLA

Maybe DM played Exalo & Cluff off against each other to drive the price down & p***** both of them off & got left with neither!

Surely if the predator rig has resolved its third party issues - it would be the rig for us to use ? We spent so much time & effort getting it fit for use - why wouldn’t we now not buy it ?
Unless we were not told the truth in the first place ?