Member Info for deepbluediver

At just over 1% coupon price, its free money. All positive in my book .back in at this sp

Back in after a long hiatus at 194. Surprise to see sp below 200 to be honest.

Good question Bunsa,
Dai2belts had re-shared (this morning) the video link of DM talking last week and one point i miss was his potential plan to re-enter the well following exploration. DM did say, when talking about traps, that post discovery the well will be cemented and a bridge plug set, therefore he can easily re-enter the well again (if HE1 wishes to) and run the appraisal tests if the drilled well is at the right location.

ideally, you want to appraise each accumulation / discovery over a suitable time length to acquire as much data as possible. so if we declare "x number of discoveries", likely we will want to see "x number" of appraisal wells planned at the very least.

Can we re-use the exploration wells? Yes, depending on a few things. It may also be a new well or re-enter the exploration well as is, or with a small sidetrack to the exploration wells. these uncertainties are normal at this stage and the planning team will / should have a decision tree scenario built in to map out the different options vs exploration outcomes for each targets. The appraisal program will be tightened once the exploration program has gone through the critical exploration work elements.

When will this happen - I suspect it might be back to back with some minor pause in between since all the equipment are already there ready for appraisal. There will be other contributors here who might have a better handle on this than me. Hope this helps.

Quoting @ seisprocessor

"So the notion of having to wait 4 weeks after spud for results at the end of June might not be the case, and for anyone thinking of investing after the spud date it would be advisable not to hesitate for too long, otherwise they might find themselves very quickly being left behind!"

boom!

Mr ST
wonderful buy - good price and volume too. well done.

I see Seagullsfan also had a nice dip into the shares, good on you!.

feeling left out now... :( no dry powder today

thanks for sharing your strategy and points 111Baker...
Some thoughts and minor corrections to your statements:
1. Seeps are showing 4-10% He concentration, not from drill. we are about to drill. There are several posts here already on why is seeps good here relative to E&P projects. remember, its not the same kitchen or mechanics at play between E&P and He generation.
2. Issues about Plant for cooling etc is after discovery has been declared. there are many other things to consider besides this, but I see the details of that moot at this stage. like most similar capital projects (E&P as an example), the development plan is at pre concept level when we are at exploration / appraisal stage, and the pre concept development plan has been shared with the investment community in various docs. Also bear in mind that unlike a blank paper, HE1 is talking about using cookie cutter technology to ensure cost and applicability are as close as you can get to reality at this point of the project cycle.
3. 2023 was the target production (rather than 30 years), generally they may be some delays, as with most capital project. have you attempted to look at sp price projection over time (valuation work) - pre drill, post discovery, FID declaration, steel cutting commencing, fabrication completed, etc all before first production? very quickly you will see the sp now is a more than a bargain. but each to our own (eg my SIPP is coming in post discovery although I have 1MM shares already - bought pre discovery). you weigh you own risk, its your money.
4. Again, 30 years is not a timescale we see here, as an example, the process from exploration / appraisal to development here is akin to a very small gas field (albeit with substantially larger value due to He pricing). 24 months is practical (akin to HE1's estimate - ive done one in 18 months but that's a one off), 36 months is probably a worst case scenario if i were to compare it with similar size projects, execution needs and capital requirement.
5. looking forward to seeing you back as an investor here soon as a LTH - good stuff.

dai2belts
agree - @Seisprocessor recent response actually answered all of Adrian's concern - both from geoscience world therefore very helpful.

thanks Dai2belt. as always, much appreciated.

I like that DM talks about biggest risk being seal - fully acknowledge it but confident in his G&G knowledge and strategy.. If He discovery is declared, the well will be cemented + bridge plug to suspend it so it can be accessed back... (two things I like here - one, he is thinking about saving cost to reuse the well, and second, seems that this inert gas is sufficiently capped using E&P tech. )

I will still of course ask around.

Hello Dai,
yes, the bridge plug will help seal for the well exploration well to be suspended.

Its a bit different in that i am looking at suitable cements for our upcoming He production well ( you were right in an earlier post re down to casing)
In truth, it might be nothing actually - eg no issue at all using conventional equipment and tech particularly seeing He is inert. its just bloody Houdini of a gas. but maybe the leak, if any, will be very minor. It might also be a case that the well pressure tested fine but we just have to live with some leak therefore simple techs to monitor in situ pressure losses can be used. Or today's E&P tech is sufficient enough. I dont know at the moment. feels like my brain is a sieve after retiring.. haha.

i think the realisation just kicked in for me, its not an E&P project although a lot of the elements are shared. all very interesting.

will have a quite chat with friends who are still active on the ground from Schlumberger, Halliburton and Baker Hughes ... See what they think on cementing needs for He production.

Dai2belts, Ezhik
many thanks for this. I actually wasnt looking for the drill mud composition but rather thinking of the well completions part including jewellery (a bit airy fairy on my part as its something to consider post discovery, for production well purposes).

apologies if I wasn't clear. I am jumping a bit too far ahead thinking of the well design and completions for the producing wells... (the wells will need cementing).

on mud, Mitchell I am sure will have prepared or preparing a mud weight window vs depth analyses and some contingencies to address potential losses.

sorting out some stuff at home so a bit slow on the BB today.

seagullsfan
thats a shame... good price, i almost spilled my tea when i saw it. I am just reorganising my portfolio a bit now and should be ready to buy in the next 30 mins... always fun to see what to sell for dry powder on HE1..

Good to have you on this BB @Seisprocessor.... we need all the support we can..

as an aside, a poster posted something last week about whether the well can contain He following discovery. This has been bugging me all weekend and my first thought was - "what cement can we use to contain the well from becoming a leaky path itself?" there are a few self healing cement on the market in E&P but not sure on applicability for He .. Nothing yet to share for now, but will do once I have done some more homework.

damn, did i miss a sale on HE1 this morning? its back up already at 18.75p now. Need to put an alert

Well said Seagullsfan.
The next time the UK's Chief Scientist does a review on intoxicants vs addiction level, we should ask him to include HE1.
It will come waaay on top of alcohol.

Whilst people are waiting for 16 / 14p, i thought id top up another 20,000 shares. Thats a few buys yesterday and today, and thats enough to tide me over the weekend
Hope those that waited did nibble a bit whilst it was down in 17 / 18 and now 19. GLA.

just while we are at it, i thought of matching my wife's investment - another 16767 @ 17.85p bought in in account 4... sale sale sale....

Technical Analyses and Fundamental Analyses - both very useful but none could predict surprises - like the weather in Scotland.

sorry Mdrake, you too of course! my brain is too slow...

G, you're on a roll! good stuff. you did well riding the volatility on HE1. I did that with IAG, riding it from 77p (non stop buy and sell, repeat) but left once it hit 210+. in fact, that's where most of the cash came from to pump into HE1.