Member Info for MCNol

No Toffers you are spamming the board with FUD and have stated you are uninvested. You have slagged off Blubay plenty of times for that. You have also slagged off others for posting negative FUD and yet that is all you have done today.

@Toffers, you stated earlier that BNL were producing "Oil" you are clearly having an off day. Please stop filling this board up with FUD and making stuff up. You are doing exactly what you slag others off for, stop being a hypocrite and comment on a share that you like or are invested in, instead of hanging around here like a bad smell...

The Analyst is praising the board's decision to launch the formal Farm-out process now.

The ESP testing, which moved 250,000 barrels of water to prove a six-fold increase in gas flow, is described as the "gold standard" data package for a major partner.

By raising £3.5M now, the research notes suggest HE1 has "negotiating leverage." They aren't looking for a partner because they are broke; they are looking for a partner to scale a proven discovery.

The "hidden" message in today's notes is that Helium One is no longer a one-trick pony. It has two continents, two gas streams (He & CO²), and a mix of immediate cash (US) and massive scale (Tanzania).

Continued

The "3.6p Note" essentially says: "The geology is done, but the business is just starting." The key risks have shifted from "Is there helium?" (which is now a 'Yes') to "Can they build the plant and sign the partner?" (which is the 'Work in Progress').

From todays research note

PMUR analysts highlight that with six wells now tied in (Jackson-2, 4, 29, 31, and State-9, 16), the facility is no longer "testing"—it is harvesting. The note emphasizes that moving to 24/7 production is the final "de-risking" hurdle for the Colorado asset.

"The successful ESP campaign has provided the ultimate data package for a strategic farm-out. With concentrations up to 9.2%, the southern Rukwa project is now a premier global development target."

"While the 17.6% discount on the £3.5M raise reflects short-term market conditions, the capital injection secures the runway for Tanzanian appraisal and US expansion without the immediate pressure of further dilution."

"Supply disruptions at Ras Laffan (Qatar) have created a vacuum in the global helium market... HE1's timing to bring US production online and secure its Tanzanian Mining Licence is impeccable."

The "PMUR view" is that the 26 March RNS was a re-rating event masquerading as a fundraise. By combining real-time revenue in the US with a world-class discovery in Tanzania, the broker sees the current 0.6p level as a significant "undervaluation" of the company's tangible assets.

PMUR maintains a high-conviction Buy rating with a price target of 3.6p

This target represents an upside of over 400% from the current share price

From todays research note

PMUR analysts highlight that with six wells now tied in (Jackson-2, 4, 29, 31, and State-9, 16), the facility is no longer "testing"—it is harvesting. The note emphasizes that moving to 24/7 production is the final "de-risking" hurdle for the Colorado asset.

"The successful ESP campaign has provided the ultimate data package for a strategic farm-out. With concentrations up to 9.2%, the southern Rukwa project is now a premier global development target."

"While the 17.6% discount on the £3.5M raise reflects short-term market conditions, the capital injection secures the runway for Tanzanian appraisal and US expansion without the immediate pressure of further dilution."

"Supply disruptions at Ras Laffan (Qatar) have created a vacuum in the global helium market... HE1's timing to bring US production online and secure its Tanzanian Mining Licence is impeccable."

The "PMUR view" is that the 26 March RNS was a re-rating event masquerading as a fundraise. By combining real-time revenue in the US with a world-class discovery in Tanzania, the broker sees the current 0.6p level as a significant "undervaluation" of the company's tangible assets.

PMUR maintains a high-conviction Buy rating with a price target of 3.6p

This target represents an upside of over 400% from the current share price

@Toffers,

"share of the oil coming from BNL in Colorado"???

Have a day off, you are not making any sense...

...asking for a "reset" on a project that has already "won." HE1 has the discovery (5.5%), the flow (16,400 bpd), and the legal right (Mining Licence).

The "next step" isn't to start over and look for new targets; it is to finalise the farm-out and move the modular plant onto the site that has already proven it can deliver.

The independent CPR already moved the project from "Prospective" (guessing) to "Contingent Resources" (proven discovery). The "next step" is not to find a new target, but to appraise the existing discovery to convert those resources into "Reserves."

The 26 March report explicitly states that the formal process for the Strategic Farm-Out has commenced. Any news regarding a "Shortlist of Partners" or "Execution of a Heads of Terms (HoT)" would be a massive re-rating event.

Feasibility Study & EPC Contracts... Now that the Mining Licence is secured, the next technical steps involve finalising the engineering for the modular production plant. Updates on Long-Lead Item orders (compressors/skids) would signal that the Rukwa build-out is fully funded and moving.

Following the First Sales Agreed at spot pricing for the initial tube trailer (announced 26 March), the next logical update is the successful delivery and payment for the first batch of trailers.24/7.

The facility is currently transitioning to around-the-clock production. An update confirming stable, continuous throughput would be a major "de-risking" signal for institutional investors.

CO₂ Liquefaction & Sales (H1 2026):...This is a key H1 target. The tie-in of the Jackson-27 well is timed to coincide with the start of liquid CO₂ sales, adding a secondary revenue stream.

The 26 March 2026 updates have laid out a dense, high-impact roadmap for the coming months. With the company now a revenue-generator, the news cycle has shifted from scientific possibilities to commercial execution.

You are a bit slow aren't you...

I will dumb it down a bit more for you. Imagine you have a big bottle of fizzy soda, but you haven't opened it yet.

Right now, you can’t see the bubbles, right? They are hiding "in solution"which is just a fancy way of saying they are tucked away inside the liquid. They are there, but they are being squeezed so hard by the liquid that they can't turn into actual bubbles you can see.

When Helium One drills a hole, it’s like unscrewing the cap on that soda bottle.

They use a big pump to pull out the heavy water (the soda).

As the water moves out, the "squeeze" (pressure) goes away.

Suddenly... POP! The helium turns into real bubbles and jumps out of the water.

Once those bubbles jump out, they aren't "in the water" anymore. They are "Free Gas." They float to the top of the pipe, and the scientists catch them in big tanks.

Oh deary me...

The reason Helium One pumped "thousands of gallons" of water during the Electrical Submersible Pump test in early 2026 was to lower the hydrostatic pressure.

Think of a sealed bottle of sparkling water. The gas is held in the liquid by pressure. When you remove the cap (or in this case, pump out the heavy column of water), the pressure drops, and the gas "exsolves" (breaks free) from the fluid.

The Rukwa discovery is classified as "Primary Green Helium" because it is not associated with hydrocarbons (methane) or CO2. Deep in the crystalline basement, helium starts in solution within hot hydrothermal fluids.Free Gas (Accumulation): As these fluids migrate up major fault zones (like those targeted at Itumbula), the drop in pressure and temperature causes the helium and nitrogen to form free gas bubbles. These bubbles accumulate in the fractures of the rock, which is what HE1 is now tapping into.

🫏

You are getting more desperate and out of touch with every response @Deep100.

Claiming there is no "free gas" after the company literally measured it for days is like standing in a rainstorm and claiming the clouds are dry.

Pull the other one, it has bells on...

You are embarrassing yourself @Deep100, claiming a 5.5% discovery hasn't "convinced" partners is like saying an oil major wouldn't be interested in a field because it only produces "high-grade light sweet crude."

The concentration isn't the hurdle; the hurdle is simply the scale of infrastructure required in a frontier basin, which is exactly why you seek a farm-out partner after a massive discovery, not before.

The Tanzanian Government awarded HE1 the 480km² Mining Licence. This was granted specifically because the Itumbula results convinced the Mining Commission of the project's commercial viability. Governments do not hand out 20-year production rights for "unconvincing" exploration.

The current strategy is Appraisal and Development of the existing discovery. The board isn't "searching" anymore; they are optimising.

Potential partners aren't "hesitant" because of the results; they are currently in high-level due diligence to secure supply in a starving market. HE1 is one of the few independent companies globally with a proven, high-grade discovery and a granted Mining Licence.

Calling Rukwa an "exploration project" in 2026 is like calling a house "just a blueprint" after the foundation is poured and the roof is on. With a Mining Licence in hand and a 5.5% discovery proven.

HE1 is a producer-developer hybrid, not a "hope-and-pray" explorer.

@Deep100, Spending a few million pounds to secure a 20-year exclusive right to a world-class helium play is the definition of "capital well spent."

Complaining about the "cost" of the rig that found the helium is like complaining about the cost of a winning lottery ticket.

If HE1 hadn't bought the rig, the company would likely have run out of cash before the Itumbula discovery was ever made. The rig wasn't a "failed rental business" it was a £10M+ cost-saving insurance policy that delivered a world-class discovery and a Mining Licence...

Notwithstanding, by owning the rig, HE1 reduced its daily burn during the Itumbula campaign by an estimated 60% to 70% compared to a contracted rig.

Complaining that the "rig rental business" didn't take off is like complaining that a gold miner didn't make enough money selling shovels to other people while they were busy digging up a massive vein of gold...

Claiming the Board isn't motivated while they are transitioning the company to revenue-generating status during a global helium supply crisis is like complaining a chef isn't motivated while they are literally serving you the 5-course meal you've been waiting for...