RE: Just watched the interview27 Aug 2024 17:34
there are a number of people posting numbers relating to the rates of helium flow from the well, that are entirely incorrect due to there misinterpretation of the information in the rns.
the rns states "the well flowed an average of 786 barrels per day ("bpd") of fluid on a 22/64ths of an inch choke setting"
that fluid is water containing dissolved gasses. at the bottom of the hole the temperature is higher than above ground and the pressure is significantly higher that atmospheric pressure. the gas mixture is more soluble in these conditions. when the liquid reaches the surface, the pressure is reduced, the temperature falls and the liquid degasses, much the same as a bottle of lemonade when unscrew the cap-the dissolved gas comes out of solution and forms bubbles that rise to the surface of the liquid.
this gas mixture, according to the rns has been measured and the interim result is "the maximum helium gas measured from solution yielded a compositional mix of 7.6% helium (uncorrected for air contamination), 1.7% argon, 0.7% oxygen and 90% nitrogen. these results were evaluated using an onsite mass spectrometer and verified from downhole samples by a field pvt laboratory at the well site."
multiplying the volumetric flow rate of fluid by 4.7% or 5% or 7.6% is completely incorrect.
the information provided in the rns does not detail in any way the volumetric flow rate of the gas mixture, nor the relative concentrations of gas in the aqueous solution at test interval.
only once the second part of the ewt is completed and all relevant data is compiled and analysed by the he1 team can accurate resource estimates be formulated.
furthermore, no inference can be directly drawn from the he percentage in terms of the total reserve. that is what the ewt will ultimately provide an estimate of, but at this point no such estimate is disclosed and cannot be calculated or even vaguely estimated.
until then "*** packet" calculations using flawed rationales should be avoided. they are entirely misleading.
all that said, i continue to hold and remain hopeful of this being an economically viable venture leading to a much higher share price than today's close.
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