Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
@BH - steel tubing that is cemented in place inside the hole to stop the hole collapsing. If you want to test the potential reservoirs that have been shut off behind the casing, you perforate with a special gun - here's a video:
https://www.youtube.com/watch?v=cbUagy8snmc
Sorry - for reasons I don't understand, you got links for MOU-3 twice. Here's MOU-1, let's hope it works this time:
https://dataspace.copernicus.eu/browser/?zoom=18&lat=34.28433&lng=-3.44267&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fsh.dataspace.copernicus.eu%2Fogc%2Fwms%2Fa91f72b5-f393-4320-bc0f-990129bd9e63&datasetId=S2_L2A_CDAS&fromTime=2023-10-15T00%3A00%3A00.000Z&toTime=2023-10-15T23%3A59%3A59.999Z&layerId=2_FALSE_COLOR&demSource3D=%22MAPZEN%22&cloudCoverage=30
There is clearly a lot going on at both MOU-1 & MOU-3. I am using the new Copernicus imaging function for Sentinel-2. These are very long links, you may need to copy & paste into your browser, rather than just click on them. You will need to be patient, they load v-e-r-y slowly. Here is the Sentinel-2 view of MOU-3 in false colour for 15th Oct 2023:
https://dataspace.copernicus.eu/browser/?zoom=18&lat=34.32132&lng=-3.38545&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fsh.dataspace.copernicus.eu%2Fogc%2Fwms%2Fa91f72b5-f393-4320-bc0f-990129bd9e63&datasetId=S2_L2A_CDAS&fromTime=2023-10-15T00%3A00%3A00.000Z&toTime=2023-10-15T23%3A59%3A59.999Z&layerId=2_FALSE_COLOR&demSource3D=%22MAPZEN%22&cloudCoverage=30
You can then click on the date at upper right, and pull up the image for 20th October (17th was cloudy) by clicking on that date on the calendar. You can then click backwards and forwards between the two to see the changes. You can even line up a whole load of different dates and make a time lapse movie. I've used false colour since I think it gives greatest clarity - if you don't like it, there is also true colour and a range of other spectra including IR, which will show flares best.
Here's MOU-1 for 15th Oct, same instructions as above:
https://dataspace.copernicus.eu/browser/?zoom=18&lat=34.32132&lng=-3.38545&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fsh.dataspace.copernicus.eu%2Fogc%2Fwms%2Fa91f72b5-f393-4320-bc0f-990129bd9e63&datasetId=S2_L2A_CDAS&fromTime=2023-10-15T00%3A00%3A00.000Z&toTime=2023-10-15T23%3A59%3A59.999Z&layerId=2_FALSE_COLOR&demSource3D=%22MAPZEN%22&cloudCoverage=30
Sentinel-2 transits every 2½ days, images load a few hours after transit.
Finally, here is an interesting site that I posted recently that shows flaring - unfortunately the data usually appears about a week after the satellite transit. You will need to adjust the date range to the last couple of weeks and click 'apply':
https://viirs.skytruth.org/apps/heatmap/flaringmap.html#lat=34.2785&lon=-3.39203&zoom=12&offset=15
Just caught up on the pages & pages of posts during my nighttime. I suggest folks re-read Gogs @ 0924, Joe80 @1202 and Wasendo @1456. I agree with their interpretation of the latest photo tweet - the drill string is out, casing & cementing are underway. Can't say RNS Monday for certain, but you wouldn't be spending the best part of a $1M completing the hole for testing if there was nothing to test.
@Latorre - may I add to your list of positives? - After review of the new subsurface data, then newly appointed chief geologist Lorna decided that TAI-1 had been drilled in the wrong place. She has positioned TAI-3 on the other side of the fault plane intersected by TAI-1. This will make a big difference to the chances of commercial success.
@Sheephatch. Let me try!
1. Historical - I have been invested in HE1 in forms prior to their currently listed manifestation in total for about six years - previously through Solo / Scirocco / Attis. I tend to invest, then do nothing if the investment proposition has not changed.
I intend to hold HE1 until a corporate take-out. I considered NHE when it listed on the ASX, but decided if I was going to invest there, I would need to sell some HE1 in order to maintain portfolio balance.
2. Geological. (a). The folks at Oxford & Durham have made it clear that lateral helium migration is driven by the Rungwe Volcanic Province to the SE of Lake Rukwa. You need to be in the 'goldilocks spot' to maximise helium concentrations, otherwise if too far or near to/from the RVP, you get steam or CO2. HE1 has the goldilocks licence areas, NHE are possibly a bit too far away. (b). NHE have only one type of structural trap for helium - basement margin fault closures. Although these have been proven as reliable hydrocarbon traps in other parts of the EARS, that was NOT the case at Rukwa - early drilling for H/Cs failed, something NHE don't like to mention. BMFCs by their nature are only able to accumulate helium from 180° of their underlying strata - the remaining half is non-permeable basement rock. This means that such a structure is likely to have a smaller volume of helium. On the other hand, HE1 has other types of structural traps as well as BMFCs - I think this reduces risk.
3. While I would normally find comfort in a company's board having a decent shareholding, NHE's and their associates are in a position to control the company, which could easily be to the detriment of small shareholders.
These are just my thoughts; you should not rely on their accuracy or reasonableness in coming to your own conclusions. You could always go 50/50!
Folks here are making forecasts for the share price based on what it was thirty months ago. You are wasting your time.
In case you hadn't noticed, the world has changed beyond recognition since Tai-1 was being drilled. It is not just HE1 share price that is low, it is every other risk asset - take a look at the overall AIM market chart. Two years ago, money was free; now with highest inflation for decades it costs an arm and a leg to borrow anything, assuming you are able to borrow anything at all. We have one long-running war that has screwed up just about every market you can think of, and another even more potentially disruptive one started last week. The world's largest commodity purchaser and processor (China) is falling apart at the seams.
Risk assets will remain out of favour for the foreseeable future, and HE1 will remain a risk asset until a commercially viable quantity of helium is proven. Once this occurs, HE1 will change overnight from dodgy risk asset to a desirable provider of quantifiable positive cash flow. The share price (or more usefully the market capitalisation) will initially depend upon how much helium is present, at what concentration, at what pressure, on cost of extraction and transport, selling price, capital costs for getting up & running, and timing of all of this.
Perhaps you should come up with your views on those factors and then do the sums, using a standard NPV/IRR spreadsheet. I suggest you discount using at least 12% pa, given the relatively unstable jurisdiction, and the dodgy state of the world. Divide your 10-year NPV12 by 4, and that is how much an acquiror is likely to pay for the whole lot. Divide that figure by the number of shares you expect to be in issue at that time, and there is your reasoned target price.
Just saying "It should be 10p by xxx" is just p-ing into the wind.
The previous Sandjet programme was scheduled to start and finish in September - so a max of 10 days for each of 3 wells. The current programme appears to be only 2 wells (no mention of MOU-4 at this stage), and they are perforating a smaller number of horizons in each well. They setup and moving time will still be the same for each well, and it will still take the same time for ONHYM discussion & approval. So, if they wait until both MOU-1 & MOU-3 are completed before any announcement (imho the most likely scenario) we are looking at possibly 2 x 7 days, plus 3 days for ONHYM = 17 days minimum. If they started on 16th, that takes us to around Thursday 2nd - Monday 6th November. If an earlier start, subtract 2-4 days.
Happy to be wrong, happy that management will do what is necessary in whatever time it takes. If you're frustrated that no announcement will spoil your audacious and sophisticated bent halfpenny price change trade - tough, suggest you get a proper job.
@Rosso. Very naughty - it should have been plugged before being abandoned. I'm just waiting for one of our little furry pets on here to suggest that the company has run out of money and can't afford the RNS fee. Or suggest we need a £250 placing to fund one. They will know all this from one of their 'city contacts'.
@Findme. You do not appear to have read any of PRD's RNS's over the last couple of years. The CNG strategy involves PRD trucking relatively small amounts of gas to end users, who would be industrial users in various parts of Morocco. The pilot project was designed to minimise capital risk by starting small - up to 10mmcfgd in the first couple of years - then increasing production in line with growing demand - the industrial market requirements were thought to be a maximum of 50mmcfgd. PRD now have strong interest from a major buyer (or buyers) wishing to buy gas direct at the wellhead.
The previous testing strategy was to confirm sufficient gas flow to satisfy this relatively small requirement. The current testing is to ensure that sufficient gas can be produced to supply either Moroccan power stations (G2P) or European (G2EU) requirements. We are now talking about 250mmcfgd.
By the end of this month, or at latest mid-November, if the testing is successful PRD will be in a position to finalise contracts for the supply of between 5 times and 25 times the amount of gas per day than was envisaged only a couple of months ago.
That provides huge cashflow going forward, or alternatively a huge upfront payment for the acquisition by a third party of the producing assets.
Since you clearly do not believe this is likely, I suggest you sell all your shares immediately to someone who does believe, assuming of course that you actually have anything to sell.
..mouthing off negative, uninformed comment.
* Lorna has years of experience running gas exploration activities in East Africa, and has an excellent skilled team working with her.
* The previous drill was a total shambles (read the new Tai CPR for the damning details), this is being run to best practice standards.
* Having full medical backup and holding medical emergency drills is part of that best practice.
* You cannot run an operation like this, nor develop a fully-fledged business, in a country such as Tanzania without full local and government support. HE1 have been following normal ESG standards in helping the local communities and hiring locally whenever possible. To dismiss this is 'virtue signalling' is just demonstrating ignorance of how such operations are run. Remember this is Tanzanian gas, benefits have to be split both ways, otherwise you will find your company licences will not be renewed.
* There were very obvious gas shows at Tai-1, although due to the previously-mentioned incompetence a discovery could not be declared. I regard Tai-3 as an appraisal well. I am also sure that Itumbula will be successful, based on extensive research. If I didn't believe this, I wouldn't be invested here - there are plenty of other places to put money.
* I agree with Skittish & others that there will be some very interesting corporate dynamics playing out in the next few months, particularly if NHE gets two strikes, which I think is very likely.
Rant over, have a great week.
@Spud69 (now operating under a new assumed name intended to mock another poster). Why did you post this, after criticising @HBob for doing similarly? "Please refrain from posting about 'blue finishes' or 'all three projects coming to fruition' the sp usually finishes in the red after such a pointless submission." Why don't you amaze us all with something useful & insightful instead?
Que tengas una buena semana.
@WB. I did not imply this is a good thing. I presented this simply as information - publicly reported views by energy market analysts. It is certainly bad if you are one of the 1M Palestinian children caught in an escalating conflict not of your making. I hope for both moral and economic reasons that other states will exert their influence to resolve this long-running issue in a way that ends further loss of life and misery.
From an article in this morning's FT:
"Even after Israel’s demand for people to leave northern Gaza, markets still aren’t really aggressively pricing in an escalation beyond Israel [and] Gaza, otherwise we would be higher in oil and way, way higher in gas”, said David Hewitt, a consultant at Hewitt Energy Perspectives. European gas prices hit their highest point since February on Friday."
"We’re headed to $100 [a barrel] no matter what this quarter, said Joe DeLaura, global energy strategist at Rabobank".
"Prices could easily get a lot worse [higher] before we find some stabilisation,” said Ole Hansen, head of commodity strategy at Saxo Bank".
This might help. I have ranged it to show all the MOU drill sites. You need to adjust the date range on the left each time you view, then 'apply'. Currently takes about 5 days for new data to appear.
https://viirs.skytruth.org/apps/heatmap/flaringmap.html#lat=34.2696&lon=-3.34776&zoom=12&offset=15
I don't see how this could be classed as inside info. PRD has made it clear to the market they are confident of good flow rates, but obviously no one knows today what those rates will be, since testing will presumably not start until today at the earliest. Similarly, it has been clearly communicated to the market that the Cory Moruga deal is being worked on, they are confident of tying up the loose ends with the T&T authorities, and that the new backstop date is end November.
Nothing is certain at this stage - testing could go wrong due to various engineering problems, and CM could not get finalised for unexpected legal reasons.