Member Info for Hepseal

Don't think there will be any results for a little while yet, the position as of the 14 April, 2025:

"The monitoring and verification plan for the pilot (to ensure that the carbon dioxide is sequestered as planned into solid calcium carbonate) is currently being designed. Once this is done, then injection will begin. CO2 will be supplied by Indorama, a major international petro-chemical company, who are Block's partners on this Project."

Great minds Chesh - You beat me to it!!!

""Tanzania is set to begin full-scale helium production in 2025. The Rukwa Basin, which holds the world’s largest known primary helium deposit, will be the main site. Helium One has secured a mining licence and reported high helium concentrations during tests. A processing plant is planned in Momba, and the project is already creating jobs and supporting local infrastructure""

Shed - I don't think they have walked away because the RNS on the 14th April 2025 stated the following:

"The Company has sufficient cash resources to fund the pilot programme in collaboration with Indorama, a major international petro-chemical company, who are Block's partners on this Project."

The RNS also stated that Indorama would be providing the CO2 for the pilot study.

Bit quiet on the MOU front??

From RNS 6.05.25, LB latest statement:

"Blue Star are assessing the overall programme in order to determine the timing of the next phase, which will include installation of the processing facilities and the tie-in of the wells."

On the 30th Jan Blue Star stated:

"The sixth well requires the final form 2 approval which takes 15 to 30 days to obtain."

Perhaps they subsequently obtained the approval but it did not merit an announcement as such??

Despite the umpteen posts today hardly anybody seems to be interested in discussing the actual substance in this morning's RNS so just to redress the balance I will repost my offering from 7.00 am ish this morning.

Lorna Blaisse, Chief Executive Officer, commented:

"This has been a very successful development campaign to date, and Jackson-2 is the fifth well to have been drilled. Based on these wells coming in as expected, with consistently good flow rates and helium concentrations across the Galactica project, we will continue with the campaign and drill the sixth and final well of this campaign at State-9, which is expected to commence shortly.

Blue Star are assessing the overall programme in order to determine the timing of the next phase, which will include installation of the processing facilities and the tie-in of the wells."

Good that they are going straight on to the State-9 well, must have got the permit sorted. I suspect that Jackson 02 will probably have a fairly high CO2 content whereas State -9 will probably have a much higher helium content due to the respective locations.

All good IMO.

Lorna Blaisse, Chief Executive Officer, commented:

"This has been a very successful development campaign to date, and Jackson-2 is the fifth well to have been drilled. Based on these wells coming in as expected, with consistently good flow rates and helium concentrations across the Galactica project, we will continue with the campaign and drill the sixth and final well of this campaign at State-9, which is expected to commence shortly.

Blue Star are assessing the overall programme in order to determine the timing of the next phase, which will include installation of the processing facilities and the tie-in of the wells."

Good that they are going straight on to the State-9 well, must have got the permit sorted. I suspect that Jackson 02 will probably have a fairly high CO2 content whereas State -9 will probably have a much higher helium content due to the respective locations.

All good IMO.

Agree Gogsthelogs - Established medium sized company serving the local area, good reviews, as you said previously nice overlap with civil's requirement, apart from the weather drilling campaign seems to have run very smoothly and on time - I suspect it will be more or less on budget as well.

Gogsthelogs - Thanks for your reply, I thought that was the case and as you say all good.

Cat1234 - Not surprised with a name like yours you have sussed out FURBALLS.

Important to look at the Averages and don't forget the CO2 will be sold as well.

Jackson 29 - helium concentration of up to 3.3% (air-corrected) and 48.66% CO2

Jackson 27 - helium concentration of up to 0.41% (air-corrected) and 98.31% CO2

Both wells have good flow rates of 320,000 Mcfd so far and should be more in production.

Important to look at the Averages.

Jackson 29 - helium concentration of up to 3.3% (air-corrected) and 48.66% CO2

Jackson 27 - helium concentration of up to 0.41% (air-corrected) and 98.31% CO2

Both wells have good flow rates of 320,000 Mcfd so far and should be more in production.

Lets not run before we can walk., in the first instance they need to make sure that production commences for the first six wells and as Chesh points out they have stated production is still on track for H1 2025.

The seventh well, State 9, will be funded by HE1 and may very well be drilled after production commences for the first six.

The exact timescale for the subsequent 9 wells has not yet been confirmed.

Why would it be a "knife edge" to get Galactica to production, they are virtually there!!

Chesh - you are Nuts - But you made Mrs Heps laugh!!

From RNS of the 14th April:

""The monitoring and verification plan for the pilot (to ensure that the carbon dioxide is sequestered as planned into solid calcium carbonate) is currently being designed. Once this is done, then injection will begin. CO2 will be supplied by Indorama, a major international petro-chemical company, who are Block's partners on this Project.""

In view of the above statement I think it is a foregone conclusion that either the MOU will be extended for a further period or as I think you yourself suggested previously a more formal contract is announced.

IMO it will be an extension to the MOU and the contract will have to wait until after the pilot study is completed but I will be pleased to be proved wrong. Either way we may get some more meat on the bones information re the project.

Probably now suffering from FUR BALLS (vomiting, etc)

In the last week I have seen nothing but EXCELLENT news coming out of both Rukwa and Colorado - Next few weeks should be quite exciting.