Member Info for gogsthelogs

@Sang

Hope your investment hunches are a bit better than your Poster detective work!
Couldn't be further from the mark, mate.
Just reasoning that there will be a few soles wanting to pick up some cheap buys before the meeting at 10 in the morning!
May well be an RNS to start the ball rolling at 7am

Could be a bit of FOMO in the final hour and a half today!

@Skittish

Interesting post, but I am not sure you have applied enough accuracy to the funds available - $9m figure was at 31/12/2021, and since then we have had all sorts of survey and data to pay for, staff cost over a full 6 months, ongoing costs for auditors for the rig, etc. etc.
Doubt we have much more than $7.5m left at end of June

Need an edit on here

"Plane lying in the Desert - not Dessert - for 6 Years." Lol

AP
Firstly,
The contacted or contracted issue - if it was as written "contacted" then they may still be in the process of organising the Audit (Surely not the case HE1 Board?) Or, if it was a typo and the company is "contracted" they may still be waiting for the team to be assembled to start the Audit. I put up an article on here a while back about the fall-off in labour numbers in US and Canada being 100,000 less workers in the industry now as opposed to pre-pandemic, and the 90% leaving rate of first year new recruits. This will sure apply to all skill sectors, and if the trend was for working rig numbers to fall, the rig inspector/auditors numbers would follow suit.

Secondly,
Assuming the rig is booked, in my eyes, is only stating the intention to carry out the audit, and that agreement for HE1 to do an Audit had been agreed with the owner - nothing more! So we don't really know if the Audit is underway or not.

Thirdly,
If the link to the rig for sale is indeed the rig we are looking at, then, after reading the full description, it turns out it was built in 2012 in Texas, carried out approx. 5000 hours in operation, up to 2016, yes 2016, and has been lying idle if a yard in East Africa, presumably Mwanza in Tanzania, for the last six years! The issue I have with that is it may be ok Mechanically at those kind of hours, but hydraulic seals, electrical wiring/equipment may well appear fine on first test, but will fail quite quickly under continuous workload, due to weather and natural deterioration. It's almost like an airline saying we'll go for the cheap option and buy a plane that's been lying in the dessert for 6 years, rather than leasing a new, or nearly new one to do the job with confidence. Very Risky.
If this is the route being taken i.e. buy old drill, hire operator, source parts to supply to operator, and so on, then for me it could be a massive blunder waiting to unfold.

Finally,
As we are going back to TAI, as many believe that is where the best chance of a maiden Discovery is, why did we not start the rig procurement last September, when Mitchell's packed up? We could have put a pre-contact in place then, surely?

I have a great feeling about the Helium in the ground, but we seem to going about it in a haphazard way, almost like trying to build a Supertanker with RIVETS!
We need a Red Adair like character to get this show moving.
Good Luck to all invested , and come on DM and the HE1 Team, up the game!

If ever there was a time to Piggy Back news like this, which will hit tv screens and be right out there in the public domain, with a nice little RNS stating HE1 are at this moment driving across Africa with a big fat Drill, on their way to produce the motherload Discovery of the largest known deposits of the Helium Gas needed for those Airships, to get the worlds Airlines flying high and green in a new era of clean world travel, THIS is that TIME HE1 BOARD!

She flies like a bird through the Sky
With Helium Gas from our well at Tai
She flies like a bird oh me oh my
were all here for a piece of bubbly Pie!

Come on DM and the Board - excite the world!

Yeh, and Tanzanian Government are still trying to evict/re-settle up to 70,000 Massai pastoral farmers from Loliondo in the North to form a controlled area for Hunting - could turn nasty! That is not far from Eyasi and Balingida licences areas.

Birthday today, just back from the cinema watching Top Gun : Maverick
Came out thinking, If DM was Maverick he'd get our show on the road pronto, so now that I've made the association between the two, I'm going to predict there will be an RNS tomorrow - those Generation 5 fighters and Mach 10 rigs so need Helium to get there software up and running!
So David "Maverick" Minchin get this Rig on the road to Rukwa tomorrow!

Brilliant movie by the way - watched the original on Friday night in preparation and was a good move to link the 2 together.

GLA - this is the week the story starts!

DD
Think the ICE Ban is on new cars produced after 2035, so they won't stop making them immediately, just winding down to that date, as they ramp up electric and other forms of power to take over all new vehicle sales by that date!

DD
Thanks for explaining! I will have a wee look.

DD
Are UK listed companies going to be in the mix when these investments are dished out, as it will be a European Commission driven project, and we ceased to have any involvement in that when we left the EU in 2020?

Yesterday's Prediction
"Steady run of buys today, and very few sells of any volume - have we reached the point where those that are still in this share can afford to sit and wait now? No one off-loading large volumes? If so the price will start to creep up as there will always be some wanting in, and others just topping up as funds allow. Think we will now see the start of an upward curve moving towards Rig announcement."

Looking like more of the same today as there appears to be little appetite to off-load larger quantities - Rig Announcement is imminent?

Steady run of buys today, and very few sells of any volume - have we reached the point where those that are still in this share can afford to sit and wait now? No one off-loading large volumes? If so the price will start to creep up as there will always be some wanting in, and others just topping up as funds allow. Think we will now see the start of an upward curve moving towards Rig announcement.

Certainly will move with a drill plan, or even a confirmation of a Rig ready to Roll.
Somebody just bought 400k at 10.10p so maybe we will get wee spike today?

Muscles12
The reason you are so full of sxxt is that one of your 12 muscles isn't working - I think it's call your Sphincter Lol

The thing that stood out for me in this interview is that in 14 minutes, DM did not stammer noticeably in any of his answers. He was rapid, precise, and answered all points in great detail. This is the best interview I think he has done to date, and if I was a new investor listening to him for the first time, I would be very impressed.
The Rig must be booked, provision being that it meets the Audit Inspection requirements, any refurbishment is doable in a suitable timescale, and spare parts are consumables are available to allow the rig to be transported to start work in September.
Woke up this morning thinking we would possibly have weeks, or a couple of months for an update on Rig/Drill Plan, but this interview, albeit a paid for advert for the company, has lightened my step.
We are going to do this! GLA

Oops!

"On a Predator, with it's rig carrier, substructure, pipe rack, and float base as stand alone transportable units, hopefully a quick job."

Meant to put that at the end.

Info extracted from A PPLUS Website

TARGET CUSTOMERS
Rig inspection and rig commissioning are critical to the oil and gas industry.

Rig inspections can be carried out both before the hiring of a drilling asset and during the contract. A pre-hire rig inspection/audit assess the condition and suitability of the asset for a drilling contract. During the contract, rig inspections assess both the asset’s operational condition and its compliance with the terms of the contract. Rig inspections can be conducted by either the owner or operator of a drilling asset.

Services for rig commissioning are conducted prior to the equipment entering service. This can be at the end of construction or during major overhauls and five-yearly inspections.

THE Applus+ SOLUTION
Applus+ K2’s highly experienced and multi-skilled personnel provide high-quality services in rig inspections and rig commissioning to the oil and gas industry. Our efficient approach enables us to reduce the number of personnel required to complete a rig inspection programme, resulting in real cost-savings. Prior to each project, tailored work-scopes are prepared to the client’s requirements and the type of asset being inspected (land rig, jack-up, semi-sub, drillship, etc.). This focus on work-scope helps to reduce the amount of time required onsite.

Applus+ K2’s clients can be confident that all our services for rig inspections and rig commissioning are undertaken professionally and in accordance with the relevant standards because all inspection personnel have prior supervisory-level experience on drilling assets, as well as mechanical and electrical backgrounds. The high level of experience and expertise of our teams enables them to rapidly and accurately identify non-conforming issues and propose the suitable corrective action.

On a Predator, with it's rig carrier, substructure, pipe rack, and float base as stand alone transportable units, hopefully a quick job.

Reports for rig inspection, rig audit and rig commissioning are available for viewing at any time during the project via our dedicated online reporting portal. The detailed reports include categorised observations and recommendations (critical, major and minor) to help clients prioritise the required corrective measures. The rig inspection reports also detail the rig’s operational status or readiness, depending on the nature of the inspection.

SR
"FDA Phase 3 update due. Oxford finance update due. Imagine if they arrived at once : )"

Duncan and the Board are just going to have their Coffee and Croissants, and then the 11am RNS on both - wishful thinking!

Thanks for that, Nas-k
Probably an older article I read when researching the Rig

HE1 should get you on board as the CIO - Chief Information Officer