Member Info for gogsthelogs

@Dai
It was more the lines in the Update where they mention

"International activity steady with opportunity to ADD RIGS later in the year"

and in the section International Market poised for GROWTH
"Upcoming tenders and expected contract extensions have potential to increase activity and contract coverage"

Just sounds if there is an increase in their business overseas in the pipeline, perhaps in Africa?

As for the driving, we could put the trucks on a P&O ferry from Kuwait to Dar es Salem - no wage problems there! lol
GLA

Some extracts from Precision Drilling April 2022 Investors Presentation
APRIL 2022 PRECISION MARKET UPDATE
? Drilling activity updates for Q1
? Canada peak activity of 72 rigs, extended winter drilling season in March
? U.S. activity trending towards 55 rigs in April
? International activity steady at 6 rigs with opportunity to add rigs later in the year

INTERNATIONAL MARKET POISED FOR GROWTH
? Precision’s international strategy is focused on establishing operations at scale at in the most attractive regions with customers who value High Performance services.
? Precision has established operations in Kuwait and the Kingdom of Saudi Arabia ? Saudi Arabia: 3 active rigs and 1 idle
? Kuwait: 3 active rigs and 3 idle rigs
? Kurdistan and Georgia: 3 idle rigs
? Upcoming tenders and expected contract extensions have potential to increase activity and contract coverage

Roll on Super Single Tuesday!

Interesting that the number of Rigs in work is increasing daily in the US, but in Canada the number is reducing. No matter what, one of the Super Singles is going to TAI to crack on on the existing prepared Site, and once we have a Pad done, one to Itumbula!
Think this, or something very similar, has to be what is simmering on the back burner!
Surely all the data has been studied, over-layered and discussed till they are blue in the face, and it is our Drilling Partner or Major/JV who are now scrutinising it?
GLA

I was just about to ask you what had happened to the Rig Locator, Dai!

Has ITV got this board closed down?

Daven66
They will get a Drill if they want one and are serious about going for the prize this year.
Precision Drilling in Texas have 14 Super Single drills stacked in Texas and Pennsylvania, some of them 600hp and some 1200hp, ideal for our work, and they are similar to the Huisman LOC 400 which is containerised, although not quite so compact as that one, but still relatively easy to ship and truck to site.
I honestly think there may be more than one drill involved, and the contract/payment in shares will be the discussion going on just now, with the Driller or a Major/JV
Won't be cheap, but to get the Gas to market , that is what is needed now!

Turbot
And along with the Rig comes a Drill Bit and 592m of string pipes to be collected from Rukwa (if you can find them - look for the bubbles?)
Now that I have realised I am the only person who hasn't got a bank holiday on Monday next week, I'll change my RNS date to 4th May
GLA

Just to fill the days ahead, a wee game to add some fun!

2 Dates of interest to all of us - give us your choices.

Next RNS - I'll go for Monday 2nd May (2022 hopefully)

Next Drill SPUD - Friday 12th August

Prizes - none really, other than the smug satisfaction of being able to tell the rest of us you knew all along - GLA

I think behind the veil, we are organising new ERT, MSS, 2D Seismic, and Google Pro Earth survey to DISCOVER the RNS, never mind the Helium!
Patience is a virtue, but only if you wait for it!

There's a drilling company based in Galway called Priority Drilling which has some mineral Rigs similar to Mitchell's one last year. I am not sure that a Rig is the problem, but more likely gathering together a suitable crew. Perhaps we will be getting a Texas Rig from Precision Drilling with an Irish based sub contractor supplying the crew. The Priority Drilling Company appear to be progressive and expanding, so you never know?
Just trying to make sense of the interview coming from Dublin?

I'd buy a ticket for Muscles12 on a commercial space flight, in fact I'd buy the Rocket as well, and give him a direct line Walkie Talkie to DM, so he can set off round the universe, stopping at Mars, Pluto, Neptune, Hisanus ? and the Sun so he can let DM know about all that free Helium!

@JWill
Try reading Muscles spout backwards - makes at least as much sense!

@Dai

No change over the holidays with Rig status for Precision Drilling US Rigs.
They have 108 Rigs in US of which 54 are drilling.
Interesting out of the 108, there are 14 Super Singles, and they are all STACKED - none of them drilling at present, so hope the design is sound, and that they are not all Chocolate Fireguards?
GLA

Been keeping an eye on them, Dai
I have disregarded those rigs in the Canadian Sector, which reduces the search a bit, and also looking through the SuperTriples, just in case it is one of those and we are going for the Big time. Maybe see something on the next update!
Precision Drilling have a huge number of Rigs, and lots of them stacked so surely it should be possible to get one, although I do think there is a bigger Scheme being drawn up than just a Rig?
GLA

Happy Dazes
Agree on the Major news next week - 10.30am in Houston just now !
Conclude the agreements, pack up and home for long Easter break, then let us all in on the details next Tuesday or Wednesday!
The news is on it's way - GLA

Happy Dazes
Agree on the Major news next week - 10.30am in Houston just now !
Conclude the agreements, pack up and home for long Easter break, then

From my 7th April Post
"The Sp climbed from approx. 7p up to 14p over 7 trading days
That's roughly a 1p gain per day, however you think that was achieved. Was it imminent news because the field work was coming to a conclusion, manipulation by those in the know, or MMs?
All history now, but are we at the start of a similar trend now? Starting at 8.5p yesterday, let's see where the next 7 days takes us!"
It's moving up and along just fine, I would say!
GLA

DD
I have contacted HE1 at HQ in London and asked for an update/explanation on the disputed Invoices, because as Investors, if they are still an issue we should be aware of it. Won't hold out much hope of a prompt reply, but you never know!

GLA

Totally agree with that DD
I was trying to put across that the guy was letting me know that it's a big bad world out there when it comes to sitting at negotiating tables.
Here is hoping for news soon!

I had an interesting chat at the weekend with our friend's neighbour, who was an Onshore Executive for BPX in Texas, involved in new Well start-ups through to Production.
I got to telling him about Helium One, as you do, when it's inside your head, and the wine starts to talk.
He was quite interested to hear the story, and where we are now in the process.

A couple of points he picked up on:-

The situation regarding the drill problems/fallout/disputed invoices with Mitchell International Drilling - they will be known about in the wider drilling community if not yet resolved! We haven't heard a squeak about that since!

The Cash they disclosed at end of October last year was $11.5m with further liabilities of $0.24m and the Disputed Invoices (presumably billed by Mitchell) which were excluded from the above.

At end of December 2021 Cash was $9.73m with ongoing Seismic work and Staff Costs. That's $0.9m a month burn.

If the Seismic was continued into January, ERT in February and March, and the ongoing Staff Costs for those 3 months, it would be reasonable to assume cash burn would be at a similar rate, and we are now approaching half way through April, so that's a further $3.2m which will be spent to date. LEAVES $6.5m in the Kitty give or take a few dollars either way!

Do we have enough to convince a Drilling Contractor, a Major or a JV Partner to do a deal on our terms, or are we effectively a Rabbit in the Dragons Den with all the headlights shining on us?

GLA