Member Info for JohnHenry

Skippy let me put this to you. If Itumbula doesnt give a commercial discovery the SP will probably fall to around 0.1p

Any funding would have to be around 0.05p. They would probably need to raise around £5M thats around 10Billion shares.

If Itumbula fails best case for shareholders would be a sale of the company.

Blaisse could learn a lot from PG of Predator. He will not squander any funds whatever the cost.

Through buying the rig she has pretty much finished the company if Itumbula doesnt come in.

She talks in her interviews that owning the rig is positive and will be used for development.

What she seems unaware of that HE1 wont be developing anything if Itumbula fails.

Thanks for your reply Joe.

Its a major concern, the BOD appear unconcerned or totally oblivious to cost control.

They have not a care in the world to the fact they are using shareholders funds.

Gravy train comes to mind.

Surely not entirely down to Logistics

Joe80 a question for you.

He1 are working in Tanzania

PRD are working in Morocco

Both drilling roughly to the same depths

HEI using there own rig

PRD using the Star valley third party rig

HEI drilling costs are 3 times that of Predators

Any answers as to why ???

Well Skippysb01 if they dont raise prior to well results and the well results are poor. The company is finished and will never re drill TAI3

Gogsthelogs imho there will be free gas however not trapped.

RCMPMounties if they have plans to re enter TAI3 and drill into the basement then they will have to raise funds.

Any Exploration company will look to raise funds ahead of a drilling result.

If the results from Itumbula are poor then they wont be able to raise funds for TAI3

If the results from Itumbula are good then they will be able to raise funding.

Is the company prepared to take the risk,

Joe80 im guessing you know the drill targets.

The Lake Beds where Noble found a seal and trapped Helium is not a target for HE1

The Lake Beds were untrapped and dry at TAI3 and not expected at Itumbula

Another 3,000,000,000 shares @ 0.15p

BOD may stick in another few grand between them.

Worth noting NH found an effective shallow seal.

Hence a shed load of forward selling.

Agree looks like their trying to raise money pre results for a re entry into TAI3

Imho 0.15p

They cant wait until results as a poor result and they wont be able to raise at all. Company would be finished.

Target 0.15p

Oversubscribed absolute BS, SP now 20% below placing price.

5 Billion shares sold since placing.

Joe80 they have done 9 years of studies etc 3 drills.

Imho this is the last chance 4th drill.

Peeps wont support this company anymore without a commercial discovery.

Its certainly not complicated. The company needs to discover trapped free gas in sufficient quantities and concentration of Helium to be commercial. That requires an effective seal.

Why do you think Itumbula wasnt their primary location. ?

TAI3 was the location where they were most likely to discover an effective seal and hence trapped free gas.

They found neither,

In all honesty Joe80 i think its a wing and a pray thats why they could only raise at 0.25p

Insult as much as you like, simply use basic logic.

Effective trapping seal was not found at TAI3 hence no free gas. The most likely location for an effective seal.

How can the Helium/Nitrogen be trapped if its flowing through faults into atmosphere.