Member Info for deepbluediver

i like alignment across the board - as it should be.

dai2belts
likely this Friday to next Tuesday we will get news on He shows. if earlier great.
Too many people top slicing and derisking (as you would expect), therefore I don't expect much sp movement until show is announced. Would be good to go back to previous high of just 24p by the end of week before the He shows are announced.
Its all getting real now, putting a price movement alert on my app otherwise I will be checking the sp every other min.

Remember we have 3 objectives / milestones for each drill (x3), with each drill targeting 3 potential accumulations (9 targets). For each, we will get info on:
1. He show - during drilling (return mud evaluation)
2. early indication of column height and size of tank - wireline (post drilling)
3. He quality if sampling via DST is successful - post drilling (result). they have "lab in a lorry", very normal and convenient so we wont have to wait long at all after sample comes to surface.

and don't forget, this is the first drill using this equipment in this area. cobwebs need to be shaken off so expect some learnings (issues) - its fine and normal. great if there are none.

GLA, i will be spending this week looking at that "buy an island" link again )
https://www.loveproperty.com/gallerylist/67352/entire-islands-for-sale-that-cost-less-than-a-city-apartment

have fun and dont deramp please, just share real info or questions.

Quoting seisprocessor our resident G&G guy:

"DM said in a recent interview that 6 3/4" cores would be taken during the appraisal stage, but no mention of any coring during the exploration wells 4" drilling that I'm aware of.

I would think drilling full speed up to 200 feet/day would be unlikely. The drilling mud will have to be constantly checked for losses and weights adjusted, given that this is a new well in an unexplored area and the drillers will have to learn as they go. There will be poorly compacted shales in the shallow lake sediments and also lots of interbedded shales within the sandstone reservoir targets.
And hopefully gas kicks in the Karoo supergroup to contend with!

The 2nd and 3rd drills might be a bit faster once they know what conditions to expect. So there is a mixture of highly porous sandstones and also shales, which are impermeable in the vertical direction (good for acting as a seal), but have high permeability in the horizontal direction when pushing drilling fluid into the side core.

I had estimated 140 feet per day based on taking 4 weeks to drill 1200m.

So matching that rate to the estimated depths would give, IMO, first possible helium shows reported below the unconformity around day 8, and from first target zone in the Red Sandstone formation at day 16.
Anyway, that's just my guesswork, and sits either side of your day 11 estimate."

Try IG, its quite good for chart indicators, drawings etc. I have both HL and IG and prefer the latter.

Drilling start RNS: scope and time

o Micro gas chromatograph and mini mass spectrometer used to identify elevated levels of helium in mud and reportable as a helium show

o Wireline logs to identify reservoir and seal units and to confirm pay zones in success case

o Drill Stem Testing unit to attempt to flow helium gas samples to surface

· Each well will take circa one month to complete

Here we go! Enjoy the ride

Morning, bump

@shareinvestment
Happy to contribute what little and limited i know.

I personally class underdeveloped (brown)field as strategic. Usually forgotten, unloved, they have zero risk there being no oil, and have production history, not mere appraisal(s) .The good ones are usually owned by supermajors / large majors in and of the past, prematurely abandoned for different reasons. Generally technology has caught up,eg todays conventional tech is more than sufficient to address any legacy challenges. And relative oil prices, markets, politics changes may have improved.
The real challenge usually are financing and PM, particularly in non core E&P basins. But the management team have a good CV behind them and very smart blokes.
At this early stage, with only those to hang on, i see north of 50% CoS, it should improve towards first oil if thats the direction of travel. As i mentioned i bought 1mm shares just on their CV strength.

Early look at RISC CPR - pls don't believe what I write (Please DYOR):
- remaining volumes looks good, net 25 MM 2C. Netback is great, PI (or PIR) looks wonderful.
the CF can take a bit of crap / seem still robust
- initial dev (HM) vs redevelopment profile (forecast) indicates gravity segregation (see flush at restart) owing to density differences of reservoir fluids (not commented on the CPR). the length of flush and when water comes back likely is wrong (and that is ok). I don't expect early work to include film model, rock type specific hysteresis correlations etc in the FFM at this stage.
- No metallurgy discussion or indeed integrity issue considerations, chemical usage, supply, contingencies etc even with CO2 content up to 18% - a bit disappointed on this part with the CPR. I was expecting at least a discussion on the topic with a view to tighten it up at FDP.
- Dual ESP / ESP - this worries me a bit. less moving parts the better. What's wrong with GL? I've installed a lot of ESPs, some are good, some just crap. the latest dual ESP I looked for a friend who owns an oil co crapped out after 1 year and had to be bypassed (small diameter) causing very poor production. more analogue I can share on this. There are some successes too. whereas on GL, less drama.
- I hope they would source their floaters / jack up / MOPU from SEA. no point taking North Sea specs for that part of the world.
- Quote "The cost assumes a rig rate of US$100,000/day, this is reasonable in the current market where jack up rig utilisation is approximately 50% in SE Asia." - Maybe. Very recent chat with brokers indicate rates are expected to appreciate substantially for 2022 and 2023. better get that rig rates locked in early.
- "We consider the costs arising from the market survey to be immature. For example, one source quotes FSO BBC + O&M rates of US$20,000-25,000/day whereas another quotes lease rates of US$40,000-50,000/day depending on lease period." - agree.
- "Leasing arrangements with a component of lease rates linked to production could also extend economic field life. " errr, maybe not, CPR personnel should stick to their day jobs. That "great idea" is segway to be screwed by floating co once you have to open your books at this early stage. Simply, grab as much cash as early on, strip their costs down to the bone, lock contract and leave late life to late life.... deal with it then. its more valuable from a practical standpoint and also discounted view to go for cheapest floor rates, apply risk and rewards on topside plant uptime, and put huge pressure on pricing (cost +)
- the Tornado plot looks good with current data.
- cost of money might be a bit more than 10% (hopefully they can hit that). 14% discount still looked good though
overall, good doc with concept level input into it. it will get tighten up with time. I like the field. what I am less keen on is the farm in structure (direct vs indirect) but that's another day to review.

Lets sleep over it to monday or early next week rather than chase. Likely the PR co wont be able to say anything more until its due for release. Next week is not that far, 3 sleeps. )

I like this co as its going back to redevelopment, totally different risks compared to HE1 (if you develop a price valuation vs milestones over time, both has got legs and ShareInvestment is right, we will all need to exit at some point to bank it - when and how is a different matter). both company's are good with different risk profile at the milestones they are trying to achieve next. To be open, I have more experience on what ADV is trying to do rather than exploration (HE1) so understand the upside and risks much better. My old day job, gosh, so happy I am retired and someone else doing all the hard work. )

same here Joshwaa, I picked up 1MM shares yesterday over a few tranches, averaging 2.28p. fingers crossed, i think this will fly. Will be picking up more once I slice other portfolios. targeting 2.5MM shares.

dai2belts
very likely. As a rule of thumb, GENERALLY coming back into the same bore to reuse (and expand size) and then sidetrack to new TD roughly costs the same as drilling a new bore altogether - simple appraisal well in this case. Simpler and cleaner to drill a new bore. Anecdotal from E&P, usually exploration and appraisals are separate wells and with different targets, unless designed upfront to do both. caveat etc etc, DYOR.

Harpman, which co is this? SEC says June (from last year's filing assuming its not changed)
OTC Filings - Financial Reports
Title Date
OTCQB Certification - OTCQB CertificationOTCQB Certification
Semi-Annual Report - Helium One Unaudited Interim Accounts 2020Semi-Annual Report 2021-04-05 09:26
Annual Report - Helium One Annual Accounts 2020Annual Report: submitted on 2021-04-05 09:24
Annual Report - Helium One Annual Accounts 2019Annual Report: submitted on 2021-04-05 09:23

quick look on companies house: https://find-and-update.company-information.service.gov.uk/company/11120502 (attis convert to HE1)

Accounts
Next accounts made up to 31 December 2020
due by 30 September 2021
Last accounts made up to 31 December 2019

Confirmation statement
Next statement date 19 December 2021
due by 2 January 2022
Last statement dated 19 December 2020

1 active person with significant control / 0 active statements
Helium One Treasury Ltd ACTIVE
Correspondence address: Vistra Corporate Services Centre, Wickham Cay Ii, Road Town, Tortola, Virgin Islands, British
Notified on 4 December 2020
Governing law: Business Companies Act
Legal form Bvi Business Company
Place registered: Bvi
Registration number: 2046981

From SEC:https://sec.report/otc/financial-report/277180
Filed with OTCBB and Published: 2021-04-05 09:24:04 []
Reporting Period Ending In: 2020-06-30
Download: Helium-One-Annual-Accounts-2020.pdf : application/pdf

morning, and bump.

just to add, if you are looking for information including risks as they are required to be disclosed, its all in the document lists shared in the original post of this thread and DM in his interviews too have been clear about risks. Further discussions on risks particularly geology can be found from seisprocessor's posts (click on his profile).

Thanks Dai2belts.

well said Dai2belts...

Bump.

He is a north sea legend. I have a lot of time and respect for him.

you are a star, thank you.