Member Info for Legalwolf

Thanks RX - so far, no sign that a rising POG will lift all boats. Looks like investors are being more picky about which junior goldies to put their money in? And if so, are perhaps wary of buying ECR merely on anticipation/expectation any more? Therefore, we are likely going to have to wait for CresWick results, and they will determine the direction of travel in the near term. Plenty of upside if they are decent results though.

We do seem to have a large seller(s) in our midst. Disgruntled shareholder or short selling?

It's only a letter of engagement at this stage and ORR will need much more than £1 million to commence drilling at CLP, but the RNS refers to other funding opportunities as well. I'm surprised there were no comments to accompany the RNS from TL? It would be good to hear from the BOD about the strategy being pursued here. All imo

High volume day today. Some very large buys went through after hours. That must have been a worked order, because I did a dummy buy for £50k and was being quoted 7.3p. So the 500k buy at 6.4p and 1 million buy at 6.5p did very well to get filled at those prices. All is never what it seems on AIM.
Anyway, they do say that the longer the base, the higher the eventual breakout. In recent weeks, a LOT of shares have been, and continue to be, soaked up between 6.2p-6.5p. If this continues, it should see us tick up above 6.5p in the not too distant future.
But as always, let's see.

I am not ruling out a JV. What I would say is that the BOD going quiet is equally consistent with there being no JV. If they do any media right now, the number one topic will be about project financing and ORR's finances. They won't be able to avoid the questions. They can't say they are in JV talks if they are not. And if they admit they are not, then they will be asked if the strategy remains project level financing, which they can't say yes to, if they then have to place?

Well, I would like to think that as part of the collaboration agreement, He1 and NHE will also be collaborating on the release of newsflow under that agreement. To have it otherwise, is a recipe for losing control of your newsflow, which neither company would wish to entertain, you would think? Therefore, I would hope that they were co-ordinated announcements, rather than He1 reacting to NHE?

SW - for your Bed N ISA, do you get to 'buy' the shares back at your original purchasing price, or do you have to pay the difference between the bid and ask at the time of the Bed n ISA transaction?

Not wishing to rain on any parade, but seriously, if there was a JV in the offing, then why have ORR not mentioned that they are in talks, let alone advanced talks, in any RNS. When does a JV land completely out of the blue on AIM? Usually, the junior will ramp the prospect of a JV to maximum effect, whether it then lands or not.
Here, if ORR do have JV interest, then they have missed a massive opportunity imo to ramp the share price at no cost to them whatsoever. A golden opportunity to throw us a lifeline, and they don't take it?
Doesn't add up to me, unless there's some kind of NDA in place. All imo and DYOR

Put differently and more starkly - what happens if NHE don't agree a farm out, or their farm out process drags on? Do He1 have a plan to cover that scenario, or is it highly unlikely that such a scenario will arise, and if so why?
Like I said, it would be good to have the re-assurance. But having said all that, I remain optimistic that they are moving towards a Rig contract with NHE.

RJ - okay, I get that she can't guarantee a Q3 spud. But, she could at least confirm whether or not Q3 is dependent wholly on the collaboration deal with NHE, or whether they have alternative options in case the collaboration falls through. Otherwise, everything hinges on the farm out funding being agreed between a second and third party, over which we have no control. And having raised £10 million to go it alone, well before NHE were even in the picture, that would be an untenable position to find ourselves in. All imo

Is there any reason why LB can't come out and say that He1 WILL be drilling in Q3 for sure, with or without the collaboration with NHE? Surely, our ability to have a Q3 spud can't be solely dependent on NHE, because we are fully funded to go it alone and (supposedly) had several Rig options to do just that.
Therefore, if there is a (more expensive) back up plan B for Q3, it would help to have that confirmed? All imo

I thought the following part of the RNS was the most re-assuring: "while negotiations continue, with a view to signing a contract as soon as possible, SOFORI have informed us that the rig has no further conflicting commitments going forward. As a result of this, WE HAVE ALREADY PLACED ORDERS for long lead items."
They are making the right noises so far about the Q3 spud, in AGM, subsequent interviews and RNS. And these updates are being issued by NHE as well.

Does it stop at 7p or go straight to 8.3p?

Sounds encouraging, especially the ordering of long lead items. Well timed interim update for ISA renewals as well. MM have likely been soaking out a lot of shares in the 6s last month.
Could this be the start of the next move up. Let’s see what happens. GLA

I would tend to agree that if Noble are looking to do a farm in with an oil and gas company and who might provide them with a Rig and Crew, then its hard to understand why Noble/O&Gfarm in partner would allow He1 to go first, or want to assist He1 at all. What would be in it for them? I thought that He1/Noble were exploring collaboration, as a separate exercise to Noble's farm in, and were close to contract execution. That's hard to reconcile with Noble bringing in a Rig provider as a farm out partner?
BTW - ISA top ups are tomorrow.

Lol, when I first saw the headline, I thought they were selling Blue Moon!!! That would make sense, but not feeling overly happy about yet another acquisition. We already have enough of a portfolio, without having to add to it. Just what is the strategy at ECR, because it seems to be lost amongst so many projects now.
Still, I'm principally here for CresWick, and eagerly wait to see if it delivers the goods.

It’s all pointing to no drilling until H2, if they decide that Ditau is going to be drilled first? Whilst there might be good reasons for that, as per yesterday’s discussion, these might be lost on the market and the share price in the meantime?

Seriously guys, some of you are spending (wasting?) way too much of your lives and energy on ECR. It's just a share (one amongst thousands) and doesn't merit so much energy and anxiety expended on it every day, having the same debate and repeating many of the same points for and against ad nauseam.
It's like Groundhog Day on this bb.

That's fair enough Bozi, but I thought we were "fully funded" for all three projects? If so, and the KSZ is ready to go, then we should be drilling there whilst waiting for Ditau. After all, prior to the recent Ditau excitement, similar excitement was generated over the upgrade of B1 to 28700. It was a "must drill" even before the upgrade, so can't see why Ditau now needs to come ahead of it?
Still can't help but wonder if KAV are dragging because of the JV, although its all gone quiet on that front, as well as the talk of an acquisition.

No timescales given on drilling and can't make up their minds as to which project to drill first. It is conceivable that we might not see any drilling in H1 of 2023, which given that we're an explorer and fully funded, isn't what most expected?