The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Alano
I've CLEARLY stated umpteen times that HE1 will be a £ share in a few years time. Balance = talking common sense. Like when I highlighted the FACT that the SP will drop and it did. That's balance my friend , being able to assess the situation objectively. Mu opinion that HE1 will be a £ share has zero relevance regarding the current situation. The current situation being = nothing significant will happen until after the placing and more importantly the completion of a 'successful' EWT. Is it really that hard for you ramperholics to grasp such simple facts of matter??????
Old news ladies
https://www.cruxinvestor.com/posts/helium-one-he1-focused-on-making-a-world-class-discovery
Reported by HE1 in their own reports over 3 years ago
4.7 downhole is all that counts
So they let the rig manager go, the most experienced guy out the lot of them, whilst they're trying to tender the rig out...oh lordy, lordy, lordy! 🤦♂️ It's money well spent keeping a man of that experience on site and involved in, you know, managing the bl00dy rig!
They don't stand a chance if they don't take drilling personal on the books
Either way, they're still spending money, regardless of how big or little. Maybe they might actually get the roughneck fixed before the next drilling campaign
Oil
I've highlighted before the rates of the locals and the peanuts they'll be making. The rig manager and ass/manager should be onsite or at least in the office, if he rig is hot stacked and being put out for tender. The rig manager will be on at least 1k a day etc
It's not just wages, it's all the additional costs of food, fuel, parts and maintenance of the rig...it all adds up
A 'handful' of lads on top dollar could = close to 3-4k a day abd that's not including the agencies fee
7+ mil in sterling too when converted from or into US dollars
Points to consider
1) HE1 could be drilling a full top to bottom appraisal well, so you can factor in a few more mil on top, if they do
2) noble aren't paying for a hot stacked rig n staff to man it/service/stock to purchase and maintain it (as stated in the RNS). So additional costs eating into the 4.7mil raise
3) possible similar rates if HE1 go back to drill a few hundred metres at tai3, however, HE1 are paying top dollar for consultants, that would ordinarily be included in a rig rate of they were hiring a drilling contractor
4) my own personal opinion is that Noble will do another raise in the summer I.e. overall cost more than 14mil
Conclusion = what's left of the 4.7mil won't fund the drilling + EWT's its that simple
Do they state Oz dollar? It's 11mil in US dollars, which is industry tender
It's a there about figure, say 3-4 mil (if it's oz dollars) a EWT. I can foresee them doing another raise between now and drilling season too
Holly
The rig is a double edged sword. Yes it allowed them to drill , but at the same time, it nearly bankrupted them due to the breakdowns. If they had hired a drilling contractor and such disasters occured, downtime would of been at drilling contractors expense and not HE1's...hence why all the big boys got rid of their fleets 50+ years ago and use drilling contractors instead
They also don't have any drilling personnel on the books, so they're using consultants on top dollar. Rig manager could easily be on 1k + a day. Drilling supers 700 - 900, driller 500-700. One on each shift + back to backs = a BIG wage bill at the end of the month
They need to set up a separate company, sign over the rig/assets and emply directky drilling personnel to run it
Chellybaby
Buy in AFTER the placing/dilution and don't listen to ramping braindead morons that inhabit this joke of a board
If you want solid, unbiased and balanced information, delivered by persons whom actually have experience in drilling, join the telegram group - 'the rig pig craic shack' its not exclusive to HE1, we have our eyes on a number of oil n gas plays
The most recent SP drop was highlighted and persons warned at least 2 weeks before it occured in the group and the board - box clever
Ors
Yes, but they're just estimates. It's all about the EWT. The longer they leave announcing resource estimates, the more likely they'll announce the placing together
HE1 love a mixed, SP destroying RNS
Any normal company would simply state the average. Stating the minimum is as useful as a fart in the wind
People still in the green need to seriously consider cashing in profile before the 1p raise
LOT'S! Last one was with Borr drilling that got shxt canned early due to flow rate nor living up to expecting. That's right, not all well tests are successful. Someone stupidly posted an increase in flow of 500% 🤣
Posters who know nothing about drilling, shouldn't be speaking as an authority on drilling, it's that simple