The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
It sort’ve is as simple as that - gas floats and ‘tries’ to get to the highest spot possible at all times, only stopped by impermeable rock in a subsurface scenario. It has been alluded to that the tai traps are fill to spill. IMO likely spilling along some kind of subsurface faulting etc all the way to surface , if I’m interpreting what you are saying correctly.
On a side note: I won’t speak much on it, but hopefully I have garnered enough trust that you believe me. Don’t waste your time on the chesterfield site, that is not where the Marriott rig is being held.
Have a great weekend all, looking forward to open Monday 🙏🏻
Https://twitter.com/JoshCole2504/status/1678306262163890176?s=20
Risked and unrisked value + DCF assumptions. Go like and retweet, spread the word!
Good stuff Keith. I unfortunately had to set a 3am alarm to catch it!
My takeaway:
The Cat4 rig assessment is still in process. A few small maintenance issues have arisen which are attributed to the delays in signing, following their capital raise. They are rudimentary fixes, exactly what the Cat4 inspection is designed to identify before mobilising to a frontier basin. (For those in the telegram, I have spoke on this ad nauseam, and hope puts to bed that I was right…).
The timeline has been pushed back from mid-June to late June for mobilisation. Justyn said they have a boat targeted for the end of the Month.
They still expect us to spud in August, followed by them in September and then October/November for well 2.
This timeline was reiterated multiple times so should be seen as the working timeline now.
Rig costed at US$6-7 all in per well, a good guideline for us. Rather interestingly, they indicated they would be hoping for 3-5% Helium, certainly much higher than our conservative CPR report.
I intentionally posed a question as a ‘concerned’ Noble Helium investor: ‘If maintenance takes longer than expected can we cut Helium One off and take the rig for ourselves to solely drill out wells? Or are we tied into our agreement?’ As I knew this would be a concern people will have given the extra week or two delay. They responded WTTE: ‘maintenance required is very rudimentary and we have plenty of buffer days to get everything sorted. This certainly won’t be an issue we run into’
Hope this helps. Perhaps a couple weeks off contracts while they undertake the maintenance then we should expect a contract followed by mobilisation in very quick succession. Exciting times ahead.