Member Info for gogsthelogs

If that was a joke, so be it!
He Stated $11.5m, which at the time was £8.7m, in the Dec. 2021 Operational update, referring to state of play at 31/10/2021 That was a full 10 months ago.
Absolutely no mention of cash balance in the subsequent updates in March, May or August this Year.
We are going to need cash imminently, so a discovery is needed by November at the latest!
Or a duster, a paltry raise and a c---------k are the next scenarios down the line. Along with licences being issued to A.N.Other by the Tanzanian Govt.
I invested here 18 months ago and added along the way, and have recently de-risked my holding by 50%
Ian Stalker was the attraction for me, but it is increasingly painful to watch this unfold. I hope I am wrong, but it seems a long time ago since we were being told of a Global player in the Helium Market. Really hope my fears are allayed, but we need to get this fast-tracked.

Helx2 - you just stated:-
" now moving onto a bigger drill for the 2022 campaign with the 10m in the bank to fund it"
Talk about who's sharp ?
They stated they had £8.7m in the bank at end of October 2021 - 10 months been and gone now, with surveys, salaries audit repairs, jolly to Texas, etc, etc. There's less than £4m left in that HE1 account now and if this rig doesn't Spud before the end of October, then it will be a whole different scenario.

SHUT the F--K UP the pair of you!

And to complete the first 80% of the Audit was 24th May to 2nd August = 10 weeks, so unlikely that the remaining 20% will be anything less than a couple of weeks from now, if indeed they started back yesterday. Final bits of the audit may also be the most complex, linking and testing together, rather than doing individual components as done up to now. Mid Sept. before this gets signed off me thinks! GLA Trek will be back with The £5 call soon!

Dai - you took the words right out my mouth

"
Why was that RNS hard work,
"Completion of the audit was delayed"
"Final audit activities expected to re-commence mid-August"
No mention of pipe skate?
No mention of BOP and Koomey?
Failed then, take two August..

Working with "preferred" that kind of sounds like they may need another option, bit like Febs MOU

What happened to clear English. "

A couple of puzzling points in the RNS for me:-

Why have a couple of weeks off at the beginning of August doing the Audit, when weather window could be a time pressure?
Taken 10 weeks to get 80% of Audit done, so how long to do the final work and checks , and then test. Taking this years progress as an indicator, i'd say it could be another 6 weeks after mid-August before the rig is ready to sign off.

Ground mats instead of stone base - sounds like the Tai Pad is either not in place anymore, or they are using pads to extend it. Or if not going to Tai, are banking on the ground mats to lay a new site, which could possibly be moved on to a second location if the first is a duster or inconclusive?

Need some Va Va Voom David!

I get that Dai, but there are some details that could be updated, surely. An outside investor looking into HE1 would be curious as to why they had a monthly newsletter form March last year up until December, then nothing? Anyway, I off-loaded half my holding late yesterday and now feel a bit more relaxed, as still got 230k to profit from if it takes off, and half my investment safer in calmer waters, if it drags on into next year or indeed goes to dust. knowing me though, I'll end up taking a few again if the price stays down here or keeps falling!
Is that shorting?
See you in Monaco at the Ferrari Dealer, and then on to the Rolex shop to see how Muscles is doing with the repairs on his Casio trade in?
GLA

Could have been prompted by the previous discussion on here, to try and re-inforce the company credentials!

Totally vague promotion of the company's capabilities, but no hard evidence of anything ongoing at present, I'm afraid!
Still MEH from me.

Muscles12

"If it was nailed on you would get the best rig in class then drill ffs"

Not often I have been on your side of the fence regarding the management of the project, but you are bang on with this assessment.
Why go on about a Huismann Containerised Drill, using a copied and posted article from the Huismann website, then move on to Texas to look at a number of options over a couple of months, to then finally set about trying to resurrect a Drill that has been idle for a good number of years, IF you know that the Discovery is nailed on?
The way we have gone about this would be like trying to build a £1m Mansion with materials bought off Marketplace and carried to site in a trailer on the back of the car!
Hope I am wrong, but being away from this for 2 weeks on holiday and taking some of the emotion out of the situation, I have pulled back quite a bit on the enthusiasm!
Last Year was overkill on the tweets, etc. but doing the total silence is not healthy for the SP or us.
I am going to chop my holding in half today to reduce my risk, but will still have plenty in to profit if things kick on.
CODM and the Board - GLA

TTS/Curator/AP
Agree with you all
This is starting to look like a really weak, disjointed approach road to the big Prize. I posted yesterday about MIDAK/Mike Williams involvement, and I am not personally getting at Mike or his company, I just feel if he was the class act everyone is talking about, his advice to the board should have been exactly as AP has described with the raise, proper rig and multiple drills to get the job done.
As each day passes, we are turning up the pressure on the need for all the pieces to come together without a flaw, and when you are trying to build your Project on that basis, time, drilling staff, parts, weather, licences, Government patience for a result, etc, etc.
We don't even know if the EIA for last years drilling will still be good to go with the bigger rig and support services needed.
It certainly looks as if its all on this throw of the dice.

I've just had a pop-up ad for a Bentley Flying Spur Limited Edition - maybe a sign from David?

GLA

Oops! Should be a Koomey Unit -keyboard skills have deteriorated after only 2 weeks!

Hi Dai
Just back my holidays and managed to avoid the constant grind of this for a couple of weeks, however, back to earth with a bang.
Mike Williams - MIDAK Engineering Ltd.,
1). Posted a request last week for a Twomey unit for a land based project, which can only be ours I think. Why in god's name are they only looking for this at this stage?
2). Various other projects on the go for MIDAK? Absolutely no trace of anything else linked to him or Midak at present!
3). Companies House - had a share capital of £28k at end 2021, and a £2k computer as assets.
4). Offices - room in a converted village shop in Hampshire.
5). 2 employees/directors - him and a Project Engineer called Daniella Doran. Again no supporting data to be found - his partner perhaps?

All a bit MEH methinks -starting to think this is just a case of a job for an old college pal?
I find it almost unbelievable that there has not been a single development since the 24th May worthy of an RNS to update the market - seriously starting to lose confidence in the ability of the board to pull this off this year.
Going to consider reducing my holding before the end of the week.

CP
Ive just bought 4 tickets and will re-ciprocate!

ART123
So you haven't heard of Directors Talk, or the need for an Audit on a Rig before? Have you heard the price of Beans in Tesco?

Lease/Maintain deal with option to buy further down the line if the Rig proves it's the right tool for our job?

Well we aren't messing about with back street engineers here guys! Missed who Mike said they were first time I listened, but watched it again to establish it is ADC who are doing the Audit.
ADC Energy are one of the Global leaders in this field, headquartered in Aberdeen with sites around the world
and all the Majors on their client list.
These guys are the BUSINESS and will get this done as soon as is reasonably practical.
Away to look for some more cash now - GLA

So if you win it CP, will you pay OF there loan back, give 4D £15m in an interest free loan, and make yourself feel really good, by knowing you have salvaged a desperate group of shareholders from deep despondency?

From the e-mail Interpath Advisory sent me on Monday:-

Q. What information will be available for shareholders?
A. Within eight weeks of the administration appointment, the Administrators will write to shareholders of whose addresses we are aware notifying them that a copy of the Administrators’ proposals are available to view on our Insolvency Portal (https://www.ia-insolv.com/interpathadvisory-insolvency-portal.html). In the meantime, we will make a copy of the notice of the Administrators’ appointment as well as other letters and notices circulated to all known creditors of the Company available on our Insolvency Portal. Please note that shareholders do not have the right to vote on matters arising in the administration, because of this the correspondence and interaction between the Administrators and shareholders may be very limited.

Well that's the Week 1 gone, so 7 (or hopefully less) left to discover the proposals for moving forward.
Hopefully there will be some positives in there. Stay strong everybody!

Good to hear Mike Williams in there with David this morning, and the confirmation that the rig preparation for audit is moving along, and equally importantly, the ancillary gear is ordered and in process now, rather than when the rig is given the ok. Positive start to Q3

@Dai
Going through that is like playing "Spot the Ball" on the back Sport Pages of the Daily Rag in the old days!
There's Helium in there somewhere. I'll keep looking and let David know when I get a discovery.