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Another 680,000 share trade after hours yesterday at purchase price. There’s been a few £40 - 80k buys going on the last few days. Not chicken feed.

Yes, very interesting strategy.

Also some information in there that stood out in that RNS:

- drilling expected to take several weeks.

So that means we also have several weeks (obviously with the drill fixed) with no weather worries as some keep suggesting.

- the first well provided further demonstration that the North Rukwa basin hosts and extraordinarily active helium system.

Extraordinarily is a strong word to use with new knowledge.

£80.5k worth ( 1,375,000 shares) showing at 5:08pm.

🥳

This certainly isn’t looking like an uphill struggle into the close.

5 x trades of 8,822 shares all in a row. Not massive, but odd to have 5 of exactly the same number go through separately isn’t it?

It was nice to be reminded of this in the Audit RNS…

“In May 2023 the Company completed an independent verification of the prospective resources of the Tai Prospect (Tai). The evaluation of the total gas and helium prospective resources, and completion of a Competent Person's Report ("CPR") for Tai has been carried out and issued by reserves auditors ERC Equipoise Ltd (ERCE).

The unrisked best estimate of helium estimated to be potentially recoverable from undiscovered accumulations ("2U") in the report is 2.8 billion cubic feet (Bcf) and the 2U is 212.2 Bcf across the combined intervals of the Lake Bed Fm, Nsungwe Fm, Karoo Sandstone and Weathered Basement. This demonstrates a 61% increase in the original resource estimate from the previous 2020 CPR completed by SRK Consulting (Australasia) Pty Ltd ("SRK").

The unrisked high case estimate of helium estimated to be potentially recoverable from undiscovered accumulations ("3U") is 7.1 Bcf in the ERCE report, which is a 30% increase from the previous 2020 CPR completed by SRK. The deterministic sum of the 3U prospective resource is 437.8 Bcf in the ERCE report, which is a 294% increase from the previous CPR referenced above.

These substantial increases are the result of more detailed interpretation of the additional 2D seismic data acquired across Tai in 2021 (from Phase II and Phase II seismic surveys), and the Company's improved understanding of the structural closure.”

And let’s not forget to mention the other RNS facts…

"The year ahead promises to be an exciting one. We are fully funded for our ongoing drilling campaign at Tai, the results of which will soon be published, and are funded for the follow up well at Itumbula."

Monumental effort.👏

Absolutely. And they have to fix the drill either way because they own it. If they want to rent this out or use it in the future it needs to be fixed anyway. Might as well do that as quickly as possible and use that as a case to show they can fix any future problems beyond this drill programme.

They also need to fix it to be able to pull the drill string out and ultimately pack up to go home. They can’t just leave the thing in the ground. It will ne fixed.

Basically a win win to getting it sorted as soon as possible. It really is that simple and no point debating much more.

The roughneck isn’t the piece that’s broken, it’s the hydraulics.

“ The Company's Epiroc Predator 220 drilling rig has encountered an issue with the hydraulic system which, as a result, is affecting the performance of the iron rough neck mechanism”

“Temporary setback”

Read carefully.

Haha. The most curious thing about this for me is that it wasn’t mentioned at all in the build up or during the event. Maybe they were protecting from comments about not being focussed on the drill etc.., but I know plenty of other companies that make a big deal of attending significant industry conferences like this in an RNS all of its own.

It’s also interesting that a tweet with a photo of Lorna standing at the drill site, plus a proactive interview (dressed for an event) was put out on 30.10. The same day the conference started. Although there is the possibility she wan’t there on the first day it strange the company didn’t mention it at all at the time, but chose to release the information a week later and after TD was announced.

I hope they’re also holding other great news and just waiting for the perfect time to let us know.

Excellent post Skittish, thanks for your thoughts. I agree with many of your points. It’s also interesting that this event was a week ago now and there was no word on it until today. Makes you wonder what else is ‘bubbling ’away in the background.

Interestingly, this conference (30th Oct - 1st November is sponsored by… Noble. The links continue. Excellent networking event by the looks of it.

https://gasworldconferences.com/conference/helium-super-summit-2023-houston/

Comment: A RNS that Sir Humphrey Appleby would be proud of. The bulls live to fight another day, and the bears can literally engage in mud slinging if they like. It would have been helpful to know the historical significance of 6 times helium shows from the company in the update.

https://www.share-talk.com/rns-hotlist-with-zak-mir-ska-orca-miri-he1-ncyt-prd-harl-glr-ppp-cssg-vnet/

Blubay @8:33.

That’s the best explanation I’ve seen yet and very encouraging if that’s how this could be technically working. 👍🏼

I’m glad they’ve called TD.

Great they have helium shows.

Yet another aim hit by the team.

Sensible management of the drill to stop where they are.

The thing I’m curious about is the 3m distance they went before stopping and what that means for the previous amended target depth.

If the target was deeper in the previous drill update RNS, can anyone technical explain the situation?

Looking forward to the wireline results. I’d just like to understand the situation with stopping short of the intended lower target.

GLA.

Way above average volume today. 👍🏼

Yeh surely we don’t need to go over this comment again. We did this last week.

“These results also confirm the potential for the North Rukwa basin to emerge as a primary Helium province”

Sounds like a wider comment which is there I’m sure to please the government and all parties involved. Hopefully the timing of this will be synced with HE1 for a bigger news event as seems to have been happening.

We’re waiting for the next RNS. If you read the previous RNS that’s exactly where we are at officially apart from the fact the electrical fault was fixed.

It’s likely going by the Proactive interview that the drill is also fixed now.

Last para of the latest RNS states we’ll be updated ‘in due course’. I.e. not necessarily when drill is fixed.

Fill in the gaps. They’re likely drilling / drilled and have likely hit TD. But nobody knows officially yet.