RE: HE1 Lorna Interview now up 15%23 Feb 2024 21:31
Just reading some of the comments on linked in…..
For helium to be discovered there needs to be both production rate to the surface and subsurface volume (I.e., reservoir) sufficient to support a refining plant and long-term contract. It may take 3 or 4 wells to claim a discovery in the case of helium.
While some may disagree, a show of helium while drilling or gas containing helium circulated to the surface does not constitute a discovery, in my professional opinion. I know of many instances where additional drilling and testing did not confirm a discovery.
To clarify a discovery, we have created a “Discovery Worksheet” that includes items like well log calculations, core data, mud log data, test data, offset analog information, etc. Each of these items is weighted and each item gets a score based on quality. For instance, a flow test is weighted higher than mud log data and a flow test at 1 Mmscfd gets a higher score than a test at 20Mscfd. A predetermined score quantifying a discovery is determined prior to drilling to limit bias of the outcomes. In the event a discovery is not confirmed, the worksheet can be used to see what additional data is needed to confirm a discovery.
The guy seems to be a professor in this sort of field so suggests quite a lot of info is missing from the comms so far.