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I agree with this but just to see it from the rig providers point of view, some may not be willing to mobilise a rig to rukwa based on drilling one well.
Once noble have proof of funds etc in order, three wells within a close region might be what is needed to get a deal over the line. This scenario may be holding a rig provider back, not helium one from contracting.
Again agree with the rest ie separate contracts etc.
I understand what you meant I think they are been vague and tight lipped. The two statements don’t go hand in hand but I take from this contract talks are now active with a rig whilst ultimately they are trying to identify the correct rig for them as negotiations develop.
The Company remains focused on identifying a rig to enable us to fulfil our 2023 Drilling programme and is currently actively negotiating a rig contract.
A bit of tick box & stating contract negotiation with rig provider. Nice to read, shouldn’t be long now from a tight lipped he1 team.
Trust is all time low after two long years. I think we all agree that any opportunity to save some funds is worth exploring however not at the risk of he1 delivering a solid drilling campaign within Q3.
I would now hope the board are not flirting with any increased risk level opportunity’s to save funds in a shared rig. You raised ten million + for helium ones drilling campaign… use it!
The tide started to turn this week…
-LB out in TZ
-Rig contract imminent
-Deal already struck with noble to maximise cash
Things are certainly looking good for a strong run up March through Q2/Q3 ATH pre spud~discovery!!
Will it be rig contract announced next week after LB return to UK to get this train officially back on track to the many on the sidelines?!?
GLA
Rains finish May and start Oct approx. They can drill in the rains it’s more an issue if the rig is been transported out that creates issues. That may not be an issue if noble and helium one work together longer term i would imagine they are aiming to keep this drill at rukwa region longer term. Safety in numbers and all that!
-He1 will have a contract with the rig provider
-Noble will have a contract with the rig provider
-He1 & Noble will have a joint legal agreement with stipulations of sharing mob/demob costs, services, costs etc in event of using the same rig provider.
Helium one & noble won’t have a joint contract for with the rig provider.
@skittish LB also made clear that he1 contract signing will not be held back whilst over partys are involved. IMO you’re likely to see he1 announce a contract in the coming weeks with noble signing a LOI to use after us as they get funded up.
He1 won’t risk hanging around in signing a contract after prev issues just to help noble.
1. company thinks by the 3rd QTR which is july start they will have a drill ready?
Contract due any week now for rig. Drilling exp between June-aug
2. are they fully funded for this year now? or how many drill chances are they funded for? anyone knows please
Funded for next drill yes. May raise pre spud
3. how long is drilling roughly takes? from whenever they start can someone please give me an idea
20ish days
@FART123 keep up he1 are hardly starting from scratch. We have been in talks with several rig providers for the last 8weeks. Likely contract talks ongoing with the chosen front runner. My view is noble are joining helium ones negations to secure a better deal for all involved including the provider.
This signed agreement RNS is a tick box step been taken between both projects to get ducks in a row before a rig contract is announced to market soon. They are clearly well down the line in contract negotiations. IMO.