The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
STOP DERAMPING!!
That is to anyone who is - definitely not SteadyDanny :o)
Couldn't resist.
If we had conducted the wireline logging at 400m, this would have given us information on the type of rock we have drilled through and the length of the various types. After we reach the 1200m Target Depth, a Drill Stem Test will be conducted. I'm not sure if a DST can also do wireline logging or if they need to be two separate exercises.
The wireline is basically a rod with a whole array of various instruments on it that will take readings when being pulled back up. The DST can determine the flow of oil or gas. We won't get a proper reading on the flow rate until the appraisal wells are drilled but it will tell us if this can be classed as a discovery.
Wireline - https://www.youtube.com/watch?v=i0_BqY-ApEM
Drill Stem Test - https://www.youtube.com/watch?v=yAzpHQivraw&t=104s
I think in general it would follow the same trend as other shares where after a discovery and initial increase in SP, some people may take some profits and the SP falls back a little. The thing I am not sure of though is the timing as this is a maiden drill that could derisk the entire basin. You would need to try to factor this in to any exit point, but others may see a fall after confirmation as a good entrance point for this reason, so I think this could more heavily traded than a usual dip at that stage.
Institutional investors I don't think will be a factor at this stage and may wait until we are actually producing before major investment is seen here. It is a bit of a grey area due to the size of the resource too - any little piece of news could push the SP and I'm sure lessons learned from the stratography will be released to ensure confidence in the future drills.
I think all they changed was the hashtags. https://twitter.com/Moilgas/status/1419679133479710726/photo/1
DM may be keeping a closer eye on the Marketing Dept after the last time.
I wasn't expecting news last week after the last update, but hopefully some time this week.
It looks like the market isn't expecting news today as it allowed the SP to fall below a major trend line (22.2p) on Friday. I actually expected much more movement last week from traders coming in and out, so not sure where the SP will be going this week. https://invst.ly/vj0t4
2 weeks is a pretty good range. We don't know how many days they went fishing for or when the drilling of the sidekick resumed so any range we come up with will be pretty general.
They started the drill slow to 55m so that the hole did not give way, then cemented the well cap - I would say 4 days to dry. At 400m, they did more cementing which would take about 2 days to dry. So approx. 1 week of their time has been waiting for cement to dry and they got to at least 70.5m on the 19th. For a depth of 561m in 3 weeks minus the time taken to try to fish out the drill stem, say 35-40mpd? Allowing 4 days for fishing would take us to the end of next week for TD.
Unless we get other news, that would seem about right, but they have also drilled 15m in 1.5 hours before. I think more people will be locking in their position in advance to ensure they are not caught out.
I think as we will not get results of the drill for a number of days yet, the market has placed us near the bottom of the broad channel we have been moving in. https://invst.ly/vfdqw
I think we may continue in this slightly downward-sideways trend for a few days before moving back to the upper half of the channel. There is currently some resistance at 22p but not sure how long that will hold. https://invst.ly/vfd-i
Joshwaa, I expect a completion of a H&S formation tomorrow at close. Do you think we rebound from there or given that there is no news likely in the next week do you think we see the completion below this on the 16th as well?
Hi FrogLegs - I had to amend the scale for that. https://invst.ly/veiq9
If the SP had continued on the same trend as it has since Tuesday, we would be lower than we currently are. Crazy! https://invst.ly/vei3d
Proactive interview https://www.youtube.com/watch?v=o8m7W8qwnhQ
Although we got the announcement today, we don't know when they lost the string.
I estimate they should have reached 580m on the 29th so the incident happened around then. There was a tweet with the image of the dirt covered pipes on the 2nd so i'm guessing they wouldn't waste more than a few days trying to recover the drill. Yes, it is all guesswork, but at an average of my estimate of 60mpd I'm hoping for news next week now.
Sidetracking video : https://www.youtube.com/watch?v=0MNjzQ1rESg
There is not much detail in the RNS. Current depth or what reading they got from the new show. Delay time also unknown, so we have no idea of when potential completion will be unless an interview provides further detail.
There was a picture tweeted on 2nd July showing pipes with dirt, so if that is when drilling resumed, my new target date would be the 14th (assuming drilling stopped on the 29th). It would then take a few days for testing and analysing the data, so another case of will it be Friday or next week.
DD13 - please don't take what ITV says to heart.
HE1 have already done a placing (at 10p) to get funds for the appraisal stage. So if you are thinking of investing in Helium Ventures for that, please take a look at a few of the earlier RNS' here. There are also a few presentations and interviews on youtube that may be worth watching also.
I think any investment will come after the announcement of a discovery (and appraisal of the size of any reservoir). It will take about 18 months or more to get to production stage but if we do find a commercial resource, I'm not sure they would be looking for monetary assistance. The SP by then would hopefully make it more appealing to go to the shareholders and for the $50m plant, just take a loan which could be paid back within a year. Not much else other than running costs and legal fees that will be required in that time.
If they start giving away equity or doing farmouts, I'm going to be pizzed.
If they have found a resource that is commercial, they will be able to get a loan for the $50m plant required.
If they have not found a resource, they have another 2 or 3 holes to drill to see if there is a resource in the area. 2% Helium at 70m means the gas is rising from something underneath. There may be an underground system which allows the gas to move, bit is not being collected or stored in the area. That's what we're drilling to find out.
If they do not find a resource at Tai, there is no need to use the money raised in the placing for appraisal. This can be used to fund the further research and drilling at one of the other sites.
I can't see any need for raising money anytime soon and would hope they would go to their shareholders in the first instance as there will not be a rush - unlike last time. They had to secure the funds to allow for payment of the appraisal drilling to ensure the larger machine could be utilised.
I was expecting an RNS at 400m as this was in the previous RNS. As we a are continuing with the drilling instead of doing the wireline logging, I thought that this should also be RNS'd as it is a change of strategy although probably not having a financial impact. I think the TD will now have been reached but until the tests are complete and the results analysed, we won't hear anything. I am hoping for news tomorrow, but if not, in the next few days.
If there is no news, I believe the SP will either continue to fall on the same trajectory line or move sideways along the April baseline. https://invst.ly/ve9gd The chances of it going up are slim, but there may be some looking for a last minute deal - don't think it will be enough to make a substantial impact though.
Looks like the SP has settled at the trendline from April 12th. https://invst.ly/vdsg2
What happens on Monday regarding an RNS may decide whether the SP stays around this level, rises or falls. https://invst.ly/vdsi4
Right now it looks like the market is unsure whether to continue down or at this level.