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We are currently sitting bang in the middle of 2 trend lines. We bounced off the top trendline just before 13:00 and the fall was quickly halted. Still plenty of upwards pressure and set to end around 1.43p today.

Looks to be on track for 1.4p right now.

I'm pretty sure the seal is not an issue as they found at Tai-2 that thin clays was enough to keep the Helium contained in the system. Do we have a trap? Hopefully having drilled the 2 faults we will have good pressure and volume.

While technically correct, this is data taken from the mud logs. If you would like a comparison, Tai-3 was over 6 times background levels which wireline testing put at 8,320ppm. IT-W-1 is 20 times background levels. We are waiting for the wireline results which may be sent to labs for confirmation.

It looks like we are above the recent price trend right now. We will hit that trend line at the current price by 13:00 so we have some time to build a support level here. The trend line has us finishing the day at 1.1 so that or above would be amazing. Even holding 1p is not a bad price to rise from.

At Tai-3, the mud logs had helium at over 6 times background levels (5.3ppm). Wireline showed up to 8,320ppm in Helium enriched fluids.

Itambula West-1 has shown over 20 times background levels. Will this be 3 times greater than their results at Tai-3? Will the white hydrogen we discovered be commercial? Background is 0.5ppm and mud logs showed over 2,000 times background levels. Will this have the same type of increase in the wireline results?

The deeper you go, the hotter it will be and the greater the pressure. At what depth would the fluids turn to gas? I guess it depends on the fluids that were at Tai but we haven't been told that. Not even sure that's how it would work.

My mind is boggled by the possibilities here and can't wait for some confirmations. Here's hoping we don't need to wait too long to find out.

Once 0.72 is passed, that will be the new floor. Not sure if we will reach that today, but it will be a good base to spring from. The ceiling from there will be just over 2p but that is just on the charts. Plenty of other moving parts to keep an eye on.

How will wireline results compare with Tai3?

Will we be drilling deeper or will we be revisiting Tai3?

Will we be waiting for lab results of samples before decision is made?

Will I have ham or chicken for lunch?

I managed to average down but still need 50% increase every day next week to break even.

That's doable, right?

Where's that roll eyes emoji when you need it?

GLA

Hydrogen powered vehicles will probably become the new norm. Existing infrastructure for refilling is already in place unlike the electric grid which could never handle the volume required.

They could announce a 10 for 1 or 100 for 1 consolidation and raise at the same time. They reduce the number of shares owned and suddenly the price looks more palatable. A very tough sell if they don't have a discovery though.

The COS for oil and gas is more predictions on the p10, p50 and p90 probabilities. The market moving the SP may mean success of breaking even or a profit for an investor, but COS is more of a technical term.

I can't see where the price rise will come from if we are drilling at the start of January. People usually try to get out before the well spuds, so if there are still placing shares being sold, will the SP rise before then?

They seemed to be in a rush for financing (again) and were raising funds to pay due bills as well as financing the next drill. If the rig didn't break down they said they wanted to drill deeper at Tai-C. Did they need to switch site because the "investors" wanted to test the area where the 10% seep was?

We know there is helium in the basin. What we don't know is how much of it can be extracted. That 10% seep may be coming up from the fault we are targeting, but we need to find gas so we can extract it and have good pressure to ensure a steady flow.

I have my fingers crossed, but right now this is still very high risk. We need to get the drill to the required depth and we also need gas for extraction of the helium. After the drill we will be short on funds, so the only way I see the SP rising is with a decent reading from a gas pocket.

I'm not sure there will be much movement upwards without news. Either from the company or some TR1's landing.

The value of the company is the cash they have and a 2nd hand rig. What it is worth to a potential investor is whatever else they think the company has going for it. When drilling starts, they are spending money, so the SP falls. Not sure many people will be investing in the BOD and the days of investing in the story behind discovering helium has passed. It is going to be results that change the direction here as the drill will deplete funds and the licences will soon need renewed too.

I suppose leasing the rig could keep the lights on for a while, but it won't be making a material difference.

Do you mean the 2.2% gas show in the mud? The quality of Helium was greater, but no idea about the quantity.

I'm just hoping we find the blooming stuff in gas form. I only need x18 to break even, but that includes the carry-over from when this was NCT. Good old Randy Connally and Mexico, with Shoats Creek. ( then it was MYN, AOGL, HE1). Ah, fun times.

@Dobby It is not so much a question of finding Helium. We already did that at Tai3. We need to find pockets of gas that contain Helium (rather than in water), that have a flow rate and quantity large enough to make it commercially viable to collect. That is the hard part they need to achieve before they can say it is a discovery.

I have not been able to find mention of onshore gas finds in Tanzania. Only the offshore stuff. It will be there in some quantities, but that's what we need to find so we can extract the Helium easily.

Anyone have an opinion on when they will put LB in front of the camera again? What is she going to say?

I don't think she will appear before the new year. They have new institutional shareholders (and probably IS who will be trying to claw back some losses). Methinks the line will be that it was imperative to get a placing away quickly which unfortunately resulted in doing so at a substantial discount. But this was in the best interests of the company. The well at Itambula is ready to be drilled and they needed to do so before the real rainy season started.

Drilling starts in January?

2 weeks to drill? Assuming no delays.

Wireline at end if Feb?

Sending out for lab test results.

Getting results back April?

If they don't hit gas, is everything going to get mothballed? They won't have cash available for anything else. Although another raise for more topography studies couldn't be ruled out - they have to renew the licences soon.

The only thing I am confident of is that tomorrow from 12:30 the SP will not change until the 27th.

My concern is that in 6 weeks there is another placing without the results of the drill being known (sample confirmed). And if that placing is another heavily discounted cash-box... Will we be notified of who the new major shareholders are by then? And will they still be holding?

Clear as mud for me still. The placing is not open to the public, so it may only be a select few that are offered placing shares. Not sure exactly what the restrictions are for the 6 months, but probably only the placees will know when they get the subscription agreement. The SP may fall to around that level though. I just wish I hadn't topped up last month.

Is that not only for investors outside of the UK?

More likely they are not in a panic over the SP because it is not their money. Ian Stalker's holding is now worth about 152k, if he is still holding and Sarah Cope's is worth around 3k. The directors last invested a year ago tomorrow - in the placing.