Member Info for Glib

So Wyn, what do you think happened today?
Market correction, MM's trying to fulfil an order or something else?

I'm just worried that we have a head and shoulder completing and we had gapped up at 12p. Do you think that formation has completed or a further pullback is due?

I've never known the SP to be brought down 10+% to fill an order. If we get a TR1 in the next few days we'll have our answer.
Otherwise I'm blaming zombies.

If it stays above 14.7 then the 5 min chart agrees with this. It could be the start of a rise, but i'd give it 10 mins before confirming.

We know that there are some short positions from the icon at the top, but i don't think that would be enough to explain the trades. I can't see MM's taking the price down to this level to fill and order, so the only thing left is zombies.

No reason i'm aware of. It did go up about 16% of Friday, but there's more than just profit taking going on.

Ha - never thought that word would be blocked.
lets try cokctail

I thought he sounded more like a ****tail.

08:57 - 726k
09:58 - 627k
11:03 - 573k

It's just the standard google chart.
https://www.google.com/finance/quote/HE1:LON?

I hope so, but on the Google chart, where the dips are it shows the largest sells. Why wait until a new low before doing monster sells? I have been in shares that get shorted before and it aint fun. Not worried about the occasional correction and plenty of time until drilling completes.

Makes me wonder if that is shorters. I don't think most will be long term, but if the market allows these activities, they should at least report the trades properly. SP will move again once they start closing their position.

You would think though that there would be a way after the drill had been raised to have a cement impregnated stocking or liner be sent down on a wireline which would allow the hole diameter to be preserved and the problem with ledges be minimised. Not that i'm ticked off that they can't test all of Tai-1...

@ITV When I saw that your post contained the same information as o.walia's, I skipped it (as there is alot to read there).
That is the only reason I did not give a recommend. If good information is provided I give a thumbs up - no matter who posted it. I don't however usually give repeated info a recommend unless an insightful comment or query is made along with it, but this was not the case with your post - I just didn't read it as I had already read the previously posted article.

Try not to take the lack of recommends as an attack or affront to you. This is an anonymous board and i'm pretty sure if anyone didn't like you, they would have no problem saying so. There have been plenty of posts where I have researched, posted links or spent time on graphs and explanations and received no recommends. I roll my eyes, then move on to the next topic.

My apologies if the lack of engagement made you feel slighted.

@SGF There may be some resistance at 19.53p, but the first main resistance I have is at 22p. I believe the SP will definitely reach 21.5p, so you would be selling into the rise which means you should not have any problems in selling as the market will still be looking for shares. There is always a chance of a pullback before a strong resistance level, so 21.5p seems to be a good target.

In my opinion, DM was surprised to find a Helium show (especially at 2.2%) so high up. I thought this was the reason he was flying out to the site when we got that tweet from the airport. It seems clear that he wanted to test that section, but ended up casing it in Tai-1, which they were going to come back to. If there is helium flowing through the lake bed formation, then as the other sites are shallower, the more data they have about what is flowing at that depth, the better.

If there is no discovery from Tai-2, they will have a better idea of what is flowing at shallower depths which will assist with identifying potential areas that will have free gas trapped. It may be that a different type of trap structure is required if the helium is just flowing through Tai, but not being concentrated in one place.

Here's a chart with the various events noted so we can make some comparisons. https://invst.ly/vttmn
When the Environmental Impact Assessment was passed, we were around 18p
When we started drilling Tai-1 we were at 21p, before dropping to 17.5p
The 2.2% show at 70.5m saw us jump from 18.2p to 19.2p before falling back to 17.7p. We reached 18.5p by the end of the day.
By the end of the week, we reached 28p
The sidetrack brought us down to a floor of 22p for 2 weeks before we started climbing again
29p was reached on 30th July
We were at 26p when the results of Tai-1 were announced
We fell to 9p initially and were at 16p an hour later.
We drifted down to 10.3p until just before the announcement of Tai-2 which saw us initially jump to 14.3p
We reached 15.2p before drifting back to 14.3p. Then climbed to 17.7p by lunchtime the next day before closing around 17p.

We were around the current SP when we were awarded the EIA certificate and when the first show was announced. 22p seems to be the only solid point of resistance which acted as a strong floor after the sidetrack was reported.

If the top of the current trend is followed, we would reach 20p by 12:30 but the average of the current channel (high & low) has us there at the close. https://invst.ly/vttzd

I am not saying we will reach 20p tomorrow but upward momentum is high right now and will probably continue. I believe 18.5p would not be too much of a reach as sentiment may not be as strong as it was.

I also thought that the show just before the drill string broke would be the area to be tested, but that was in the Red Sandstone Group. The RNS states they are investigating the Lake Bed Formation which is above that. I only caught that on the second reading.

The deeper down, the greater the pressure is. But was the gas in brine at the deeper shows not forming into free gas because of lack of pressure or was it just moving through that location? From my research, dissolved gas has negligible effect on water velocity so will not impact the movement of helium in the system. Also, "exsolved gas bubbles at elevated pressures are only a tiny fraction of the total mixture volume, and also have a negligible effect on volume and density (Figure 3) until pressure is lower than about 20 Mpa (3000 psi)".

As Helium is lighter than air, it is constantly moving up so as it moves, it may lose some of the water molecules. Hopefully this is getting trapped in the Lake Bed Formation as DM mentioned that a certain height of show was required for the change from fizz gas to free gas to occur.

There were a few posts that mentioned the insurance for wireline testing and equipment. I am just guessing, but it may be that after the wireline got caught on the ledges at 880m, the insurance clauses kicked in and voided further testing in that hole. 2 of the testing elements are radioactive, so they would not be able to use the equipment if the insurance was not in place.

At least that's my guess on why they wouldn't just crack the casing and test like they originally planned.

I initially thought the 3/4 exploration holes were to be done at Tai. When I mentioned that we were financed for the Tai exploration, someone suggested I do some research. It is a bit ambiguous as earlier interviews mentioned exploring different trap styles, but rather than building roads to other sites and all the costs involved, it would make sense to get as much info from each prospect for as low a cost as possible.

If we do stay at Tai for the 3rd hole, I don't think it will be on the same pad. I guess it depends on what the 2D seismic shows as potential targets now they know they do not need to worry about efficient seals.

@gogs
This rig is for "diamond coring, directional or CBM projects". I think we could use a tungsten x-bit drill that would be wider, but no idea if we need different rods or anything. We can definitely start with a wide drill bit though https://twitter.com/Heliumone1/status/1406855391900672001

This videos is quite good at explaining the drill process (and coring)
https://www.youtube.com/watch?v=VF3_TqN6AQA
These are the various diamond drill bits I found. https://www.boartlongyear.com/product/longyear-bits/
If we are not doing diamond drilling then I think that is the only way to get a wider borehole. I have no idea if we need different equipment or if we are already tooled up for that.

@ST
I added lots of question marks so that readers would know it was all estimates. They might have taken a few more days before drilling started, the rate drilled per day may be greater or less than 30mpd and probably a few other things I haven't thought of could impact the timeline. Feel free to use as much variance as you like - that was just my generalised view.

We didn't get any milestones other than that first show RNS for Tai-1, so I'm not sure if there will be another RNS before the results come in. Hopefully another interview or tweet, but an RNS may not be on the cards. I'll take as much news as I can get though. :o)