Member Info for hasiba

They haven’t given up on Tai3 but LB felt positive and He find is still a possibility when they come back to dig deeper.

In reality Itum and Tai3 possibilities are still alive..

Sh@t show by the BoD who knew of the financial shortfalls since 20/11 when the SP was 3p..

Incompetent lots and not fit for purpose…

They most definitely overspent on Tai 3..

They led us into this rabbit hole and now trying with their begging ball for a small carrot to feed the company to another drilling. Like bloody carry on movie!

We need an alternative to save us from those amateurs..

Trojan…

Yes CLN is a good option and can borrow more than placements at the current sp..

It depends how they value total assets value and how much interest to be paid though on discovery of He this would less relevant…

This option would boost the sp and infuse confidence for the market..

Daven…

I think HE1 financial situation is obviously much weaker than before 5/12 as the current Mcap is merely £10m as a market valuation..

The market seems more uncertain about the current senior management to trust them in getting their house in order even with the assets they have. They have mismanaged HE1 and led to the company weakness to the possibility of being taken over on the cheap…

This is only one possibility out of others and just imo..

FT p/b currently is .38p so we are undervalued and a bid if it comes along I guess it would be probably no more than 3p…

The company needs saving from its inept management…

I am not a lth but only trading it for a short time and prepared to lose what I can afford…and yes it’s a gamble but from my perspective I am relatively relaxed .

If they managed to find alternative to dilution of shareholders then game is on and might see sp spike and far more if they find He at Itumbula to commercialise? Which is just a great for lth..

I don’t think the management has many options to choose at this juncture …and HE1 is at its weakest now..and will have to accept offers thrown on the table or die?!

I am now holding significant numbers but not far from the current sp ,red zone!

We are all guessing but no doubt we will get news hopefully this week and could even be tomorrow…who knows..

GL

Dai..this is about right for PRD as the daily average costs for onshore rig hiring around that figure..but HE1 is cagey to give us financial breakdown!!?

HE1 imv is vulnerable to be taken over cheaply..

Dai…

At the AGM..

Lorna declined to say the cost of the rig ..or the cost of repairs

Https://ratings.freightwaves.com/cost-of-a-drill-rig/#:~:text=A%20standard%20land%20rig%20with,the%20daily%20cost%20of%20operations.

Hiring an offshore rig costs around $150k a day..

Probably that’s why Lorna bought the rig …she likes to have two bites at the cherry..

Offshore rig cost to buy $15-25m ..

Surely the rig on its own worth the current Mcap!

@1.02p just before the close..

IMV we are trading at far less than book value..

As always dyor and don’t lose more than you can afford..

GL

They have cash but not enough to complete the planned drilling at Itumbula and the funds to complete it targeting two areas of of He at the same drilling campaign.

Also we are waiting for specimens results from Tai 3 too which hopefully be positive to go back there too..

So hopefully funding news is incoming soon..and can’t see why would be that difficult to raise!

Love the 80s music too!

Happy days they were…

Wide spread means MMs expected wild gyrations in sp .

It’s a mechanism to protect themselves from losses..

@wolf 10.30...and @crusty…10.31

Both of you have valid arguments though I think we should get news this week if they want to drill early January ..

Cont….

The bugbear will be the way they raise the funds…either dilution in big ways or secured loans or JV or M&A..but going bust is a distant possibility imo..

As always dyor

Crusty…

This is the RNS 5/12

…” The Company is advancing discussions with potential investors while also assessing other financing options and is confident of securing additional funding in the near future."

Surely this more reassuring that the company is not having financial difficulties to raise funds..

They wouldn’t have repaired the rig and mobilised to Itumbula if they were not sure to secure the funds raise in advance? And must warn the market beforehand of the financial difficulties but they didn’t or haven’t yet!

Wolf…

Not necessarily leaving it late …maybe they are exploring other options on the table rather than diluting the share value with massive placement…

Let’s wait as we still have this week and they don’t seem that bothered by sp gyrations!

Joe…

When did I encourage anyone to buy?!…you c#nt

Joe…you are behaving utterly stupid!

Give it a rest fella..