Member Info for MasksNewNorm

Whatever the date is for Rudyard to commence this is on a rig timescale.

Not to mention initial prognosis Rudyard has a higher COS

And clink is now supremely Derisked all things considered

Due to rig time schedule it does look like we’ll have Clink ongoing and Rudyard operations in tandem otherwise he’d say rudyard is delayed due to the ongoing clink ops.

Yep it is all Happening at pace. And all fully funded.

“We’re sitting on something really nice here and we intend to look after shareholders”

To think He1 holders are buzzing over 500 dollars worth of He per day if produced in the remote Rukwa rift mountains

It would cost x4 than that in fuel for a single tanker to arrive at Rukwa lake alone, let alone from a well site in the remote mountains lol and then it would have 800 miles to the nearest port of Dar es Salaam.

Lorna having them off over there kicking the can down carrot lane.

Ultimately guys they have discovered not only that Helium exists here but that the asset is bigger than originally expected with the addition of extremely high Hydrogen content and the gas zone in the Cambrian goes deeper that the rig was able to drill.

All funded well within budget for EWT and production ready completing.

The big factor now for me is whether the Hydrogen in the Cambrian becomes a discovery in its own right regardless of the Helium discovered throughout

That is to say there is more to hold for now than before.

Well it was big but now they know it’s bigger. Deeper drilling is required as the gas zone exceeds beyond the deepest capacity of the rig.

The nearest well Root has 3.9% He.

0.5% is considered highly profitable to HEX.

Development Pathway

No further geological work to be undertaken ahead of drilling at Ingomar Dome.

Target Depth of ~8,000ft (~2,500m) is average for North American drilling. Appraisal well drilling is planned for Q3 2024 using rig and services already available within Montana.

Helix management have experience commissioning and constructing processing plants and selling helium from Mankota, Canada. They will target sales direct to Tier 2 Distributors and end-users, bypassing industrial majors to ensure best price to Helix Exploration. There is also the option to lease the plant from the manufacturer, which would further reduce capital requirements.

Stands to reason. 21-28 day drilling accounted for. 11 days taken to max out the TD capacity. Gas shows in all zones substantiate further drilling to cover the full pay zone of the Cambrian and the rig will be used for 7 inch casing.

The well will be completed production ready and EWT is all in the program.

DM has already stated they plan on trucking the gas away as its quick easy and cheap. Off take deal discussions are in motion.

Sorting funds here to buy more also.

Now we know it’s bigger than expected the question now is how much bigger.

Initially we just hoped there was something there.

Yep they were 11 days in to a 21-28 days drilling campaign so funding was already well allocated for a much longer period of drilling.

As Bo states “this will be under control in short order and well within budget.

https://youtu.be/vfjB1OOb934

Well within budget and much larger reserves value indicated when they reach the new TD.

So what were the upper reservoir range figures?

Looks like they will be extended and need to included Hydrogen also.

Not to mention they were over subscribed having 22m available and settled with 9m as they budgeted 4.2m for both appraisal wells funded to production ready completions including EWT

They were 11 days in to a 3-4 week drill and now need to go deeper as the pay zone continues down at depth so the 4.2m for both drills included 3-4 weeks drilling and they’ we only 11 days in and found out they need to go deeper.

As Bo reaffirms we are well within budget.

Current drilling 3-4 weeks was allocated in drill time but it only took 11 days to max out the rig depth and the pay zone continues beyond this depth.

The operating costs for both drills was half of their cash balance they are well inside budget by a long way.