Member Info for KeithOz

IG - Blue Star has a JV with 2 other companies covering the Serenity Prospect. One of the partners, Vecta, has an He concentrating facility and existing marketing structure, which Blue Star will also use. Blue Star are also running a FEED study for an additional wholly-owned concentration/trucking operation. So yes, you are quite correct that a standalone Helium concentration plant in the wilds of Tanzania must be self-sufficient in supply, and there must be a workable transport & marketing system. These issues were covered and costed in the original CPR, Section 9 (pp 37 & 38).

If/when He is found, I see no reason why it should not be in sufficient quantities to supply a substantial concentration operation. Financial break even of such an operation is estimated at less than a year, which is one hell of a payback. The design is modular, so can quickly be doubled, tripled or more as required.

You will presumably have noted that additional board and senior management recruited over the last year have both gas engineering & marketing expertise.

There's this great new invention called Google - look what I found with it, only took 5 seconds!

https://www.bluestarhelium.com/wp-content/uploads/2022/08/61103866-1.pdf

New presentation out today from Blue Star Helium. A few bits of general He interest, eg p.27 comparison of various He companies incl HE1.

https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/1410-02551656-1U9MKH3J12O4LVOJ1DH3IF8AFP/pdf?access_token=0007PXc8XGkUt6LQQG5uM89A7RKy

Just to put the Sound farm-in opportunity into perspective. Gross GIIP best estimate unrisked total for the three prospects is 1.19 TCF. Geological (only, not commercial) risk applied = 326 BCF. 75% net to SOU = 245 BCF. Assume 66% of GIIP is extractable (as per MOU-Fan CPR) = 162 BCF. Now, what was the single prospect MOU-Fan equivalent net geologically risked number? (295 BCF), and how long is the SOU pipeline & how much will it cost? (120km & $330M) compared to PRD? (0km & $12.21M).

Here's an article that says Germany is having to shut off supply from solar panels on sunny days, since the grid can't handle the output. Maybe someone should explain all this to Minister Ryan.

"There were 257 days last year when (Germany) had to cut off supply from solar panels on parts of the grid. While it takes just a couple of years to commission a solar power plant, updating the necessary infrastructure takes between five and 10 years."

https://www.msn.com/en-au/news/techandscience/when-the-sun-switches-off-the-solar-panels/ar-AA10onGV?ocid=mailsignout&li=AAgfYrC

A little alarming that when you click on PRD on the 1-2-1 registration page, it takes you to a Proactive summary that only mentions Trinidad & Ireland. No mention at all of Morocco. Flagstaff, if you're reading this, how about updating Proactive on what this company actually does? Thank you.

"The well encountered good quality reservoir in the primary and secondary targets but both targets were water-bearing."

I guess that reduces Tullow's interest in Orinduik even further.

Bedford MK/MJ was extra tough 4WD just for the army. Production started early 70's, but we only ever got the old TK cast-offs.

Dai - since we're already way off topic, I learned to drive on its predecessor, a 1960 army Bedford TK. After double-declutching my way around assault courses in that, offroad driving while doing geo exploration work was super easy.

I hope everybody wo has been complaining about lack of progress on the KCB gives this morning's RNS a good read through to see just how much work is being done. The map links will be working shortly.

The H&P 8th September 2021 table you reference is based on the prospect volumes estimated in the original November 2020 SRK CPR, which also assumed He content of only 4.4%. Things have changed a lot since that CPR, which I believe will need to be re-written around the end of this year to incorporate improved delineation of major prospects and possibly a doubled He content. Assuming successful discovery, the H&P note gave a 12% discounted NPV of £7.31p for 138BCF. I have previously given reasons here as to why I think the resource could soon be 300-500BCF. Trekmadone's famous £5 signoff could be on the modest side.

F & M - OK, I misunderstood. GRH has more direct experience of this, having previously been involved with a hyperspectral / multispectral imaging company. My understanding is that the most accurate predictive imaging looks at surface variations in local flora type and density, as well as the more standard chemical signatures. Presumably some flora species are happier than others growing in soil which has gas and/or oil seepage. You need to employ caution in termite country, since termites emit large amounts of methane :-)

F & M - microfossils are very widely used in the O & G industry to determine exactly where a drill might be in the stratigraphic column, so finding the same microfossils in two different locations would confirm that the strata are definitely contemporaneous, and very probably continuous. Whether or not that will result in a single reservoir will depend upon the trapping geometry. I think it very unlikely that DNA would survive burial, heating & anaerobic digestion, particularly over the timespans that are relevant here.

I assume the two discoveries that Graham is referring to are gas in the MOU-fan and oil in the MOU-NE Jurassic carbonate.

Predictable that certain posters here spin a positive update as negative. If you really believe that management are incompetent crooks (it is illegal to make false public statements), then you would not be holding these shares, unless you have several screws loose. I can therefore conclude that you either and/or your employers have short positions that you want to close, or are looking for a lower entry price.

This RNS and the previous video release have been issued specifically to allay investor concerns. No sane management would destroy their career and financial futures by putting out information that is untrue. This is what I see happening;

* by end August, audit complete, drill rig contract signed.
* September - drill mobilised to Tai
* late September / early October - Tai-3 drilled with discovery declared
* October / November - capital raise to enable a further drill before early rains that may be delayed this year until late November, and maybe further drilling during the short dry season early nest year
* The current CPR of 138Bn ft³ will be revised to take into account of 8%+ He concentration, as opposed to the 4.4% used in the current CPR, and to include the new reservoirs identified north of Tai & Itumbula. Some of the resulting new estimates (likely to be 300-500 Bn ft³) will be moved to Contingent Resources or Reserves, enabling Reserved-Based Lending.
* Loan from RBL will be used to start production from Tai (although the gear could possibly be leased) and to roll out further seismic work & drilling
* HE1 easily has potential market cap of £1-2 Bn within 12-24 months.

Or alternatively, the management could be incompetent crooks running a 'lifestyle company'. Make your choice. I have.

Contrary to the views of the conspiracy theorists here, things are on track.

JP - re TA2DD002. I don't see why you think Ben is not revealing what is known about the magnetic anomaly detected in this borehole. The initial DHEM was announced on 29th October, suggesting that the magnetic anomaly was within 300m of the borehole at 780m, with total depth of 10001m. RNS on 3rd March announced that following further interpretation of EM data, the main magnetic target was not deeper in the borehole, but 350m to the east, and that shallow magnetic Proterozoic rocks were likely to be found to the NNW & South. Using this revised magnetic susceptibility model, they concluded that there was a 30km strike of potentially mineralised Proterozoic running south from the GRS. Initial petrology report RNS'd on 3rd March showed some sulphide mineralisation.

I conclude that Ben's excitement was that KAV had found indications of a 30km trend with good potential for NiCuPGE mineralisation, not that he was concealing something more specific.

Not at all sure what Cube is suggesting. He seems to be saying that because there is both biogenic (higher proportion of 12C) & thermogenic (higher proportion of 13C) gas there will be oil. We already know from MOU-1 that the gas is thermogenically derived, and that most thermogenic gas is from cracked oil. We already know there are extensive oil seeps on the Guercif licences. We already know that oil has been commercially extracted in the 1920's & 30's. So there will be oil, most likely in the Jurassic carbonates (e.g. MOU-NE) and the other deeper reservoirs such as the Triassic sands. But the presence of biogenic gas does not reinforce that view, it just tells us that there has been anaerobic digestion of in-situ organic material in the relevant strata.

Three bits of news this week that should increase demand for Helium.

1. Polyfluoroalkyl substances (PFAS), the major coolants used by data centres, previously believed to be non-toxic, have been found to cause cancer, thyroid & liver disease. The EU & US are moving to ban them. Helium is a non-toxic future alternative.
2. There is now a worldwide shortage of fibre optic cable, and consequent price rise. Production is urgently being ramped up. Helium is necessary for fibre optic cable manufacture.
3. We all know about the worldwide silicon chip shortage. The US has just allocated $52Bn in grants to US-based chipmakers to set up new facilities, plus $24Bn in investment tax credits. All those new chip fabs will need lots & lots of Helium.

OK,OK, I know that we haven't actually discovered any yet.

From the timings & prices more likely a paired sell/buy to crystallise profits. Also, buying back at lower price after a capital raise does not guarantee a profit - you may be paying a lower price per share, but you get a smaller percentage of an enlarged market capitalisation.

...and this magically appears on KAV Twitter!

"Soil sampling has located Ngwako Pan-D’kar formational contact points across several of our #KCB licences

These are crucial lithological controls for #copper/#silver mineralisation in the wider region, so we plan to increase our knowledge through drilling in H2 2022."

https://twitter.com/KavangoRes/status/1554026887541833728