Noble were in no rush for their results as they knew they would not firm up a discovery! In fact they were happy to see what came out of our well before releasing them.
We have Helium, Hydrogen and Argon in our samples, so if we want them fast tracked and are willing to pay for that, then that is what will happen!
The increasing temperatures with depth in hole will also be under intense scrutiny as well to try and work out geothermal possibilities and the status of the helium gas as the depth and temperature rise on the way down.
They could be assessing the pros and cons of drilling deeper!
News is coming soon, most likely before the end of the month! 👍
RE: Might Those Who Sold Cheap Expecting 1.5p Be the Most Bitter Now?16 Feb 2024 10:50
The well is now cased and grouted if all went to plan.
They have the readings without doing perforations to re-test. Only scenario I can see that happening is if there are major discrepancies between the readings on site and the Lab test results, where they may have to re-visit the areas tested!
RE: £4.7 Million will be for a JV12 Feb 2024 09:32
Think you are correct, but “what if “ a JV partner or other 3rd party asked them to prove up the findings on the ground as well as at the Labs, then Itumbula 1 would be a very cheap drill in comparison to what has gone before, as it’s just a case of moving the drill over and off we go - probably sub £2m as all is in place or within 1.2km
If they start showing equivalent mud samples then it would be game on for the interested Party!
Just a silly Hunch but stranger things have happened!