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2nd drill happens before the wet season starts! - see slide 13 of
https://www.helium-one.com/wp-content/uploads/2023/09/230830_Helium-One_Marketing-Roadshow_Sept23_FINAL_for-website.pdf
Will not want to appraisal drill until results back from the lab.
From the proposed placing RNS:
"Capital raised through the proposed cashbox placing will enable the Company to drill a second well this year, and at a significant saving without having to demobilise crew, personnel and equipment. This is an opportunity made available to us as a result of the recent rig purchase which otherwise would not have been a financially viable option."
The 4m saving statement did not come out until after the 6th September placing, in interviews? and in the 11th September Presentation p14. It was not a statement made in order to attract placing money.
https://www.helium-one.com/investors/presentations/
Https://www.londonstockexchange.com/news-article/HE1/operational-update-appointment-of-drill-crew/16104161
Highlights
· Fully appointed experienced drill crew
- in case some missed it.
https://twitter.com/i/status/1701557070967836962
Https://www.helium-one.com/wp-content/uploads/2023/09/230830_Helium-One_Marketing-Roadshow_Sept23_FINAL_for-website.pdf
See slide 13 for timeline
ST tipped EQLS April 2022 (Alpha report) and July 2023
A SImon Thompson buy tip for EQLS has just appeared on IC. A search of the IC website suggests this is the first time ST has tipped EQLS.
@Investing goals - to answer some of your questions listen to Director of Operations Mike Williams between 8 and 9 minutes on https://www.proactiveinvestors.co.uk/companies/news/1022880/helium-one-global-gearing-up-for-drilling-at-rukwa-1022880.html?rel=scroll
Once He1 have logged the well and determined a discovery they will case and suspend the well and go back later to complete a production well test.
Thanks dai2belts for the 35% cos
https://www.proactiveinvestors.co.uk/companies/news/975565/helium-one-shares-have-100-upside-according-to-city-broker-liberum-975565.html
"Thinly-bedded sands in the uppermost Karoo that we were able to log have no indications of free gas. Petrophysical analysis indicates that these helium shows are associated with gas-cut-brine or 'fizz-gas', which is formation water saturated with helium. These were the only helium shows that we could reach with wireline tools. Deeper show intervals identified in thicker and cleaner sandstone units of the main Karoo Formation were not logged."
The above from 11 August 2021
https://polaris.brighterir.com/public/helium_one/news/rns/story/xp9nvmw
What chance the lower sandstones are not saturated with 'fizz-gas'? Presumbly the reservoir will not economically viable unless there is free helium gas present.
It’s testimony to Lorna Blaisse that just six months after she became chief executive of Helium One Global, that chairman and significant shareholder Ian Stalker retired from the business.
It was a sign he had confidence in the company’s former principal geologist and that the helium explorer was in the right hands. She had managed to secure a drilling rig after a year of contract frustrations, although Blaisse says it was a lengthy team effort to secure the ‘neat, compact’ and capable Epiroc Predator 220 drilling rig, and oversee wholesale changes in the executive team.
The changes reflect Helium’s evolution. Blaisse explains the company has transitioned over the past few months from having “more of that initial mining, minerals background to bringing in a stronger team who have that oil and gas background. Ultimately these are gas wells. It’s a gas project.”
Communication that has been a constant from the company has been about securing the rig and a Q3 2023 spud of the Tai prospect in the Tanzanian Rukwa Project.
Blaisse emphasizes how significant the rig is for Helium One. “It’s a huge, huge milestone for the company. This is the start of the new chapter for Helium One. Having our own rig has enabled us to not only fulfill our own our own drilling requirement and commitment at Tai, but it also will enable us to fast track any future exploration wells as well.”
As for this campaign, seventeen truckloads of equipment as of August had been transported on reinforced roads to the Tai drill site with the intention of a second half of September start.
In todays update, the civils work for the well site and access road has been carried out and completed by TNR Ltd. TNR have spent the past couple of months clearing, preparing, and constructing an 130m x 180m well pad that includes a concrete cellar to house the wellhead. The well pad has been constructed to include an area for the camp that will provide accommodation for rig crew and project personnel. The cementing component of the well pad has been approved and signed off by the Tanzania National Road Agency under the Ministry of Works and Transport.
The hope is that exploration will yield a show of helium and the company can then swiftly move into an appraisal and development stage. As Blaisse explains to Sarah Lowther in the video below, Tai is one of many play types in the rift basin. “We’re not just targeting a single event. We know from Tai One that we had helium shows at multiple intervals, and those intervals we will be targeting again.”
“We’ve designed the well for a success case and in a success case, we can re-enter the well, perforate and then test. So that would be the scenario that would unfold in the months coming post a success at Tai C.”
5th May 2021 Investor Presentation
https://www.youtube.com/watch?v=A4zVkhSXlNw
Https://www.youtube.com/watch?v=d6U_qOkjsbE&t=100s From 11th July Proactive Investors interview
Share total 30-Apr-21 was 601m shares after the 10p placing
Share total 14-Dec-22 was 820m shares after the 5p placing
First drill back in 2021:-
22nd March 2021 Drill Contractor appointed - sp 5p
16 April 2021 Placing at 10p
11 June 2021 -a few days before spud - sp 21p
21 June 2021 - He gas shows - sp 27p
So this time round could well move up to around 20p by the spud date: more shares in issue but more appropriate drilling kit and knowledge gained from the 2021 drills.
Https://www.proactiveinvestors.co.uk/companies/news/1020361/helium-one-global-rig-acquisition-marks-the-beginning-of-a-new-chapter-1020361.html
LB from 1:46 re funding situation (11th July)
Presumably the issue of shares referred to in the 7th August RNS are examples of the preemptive issue of shares:-
"Helium One Global Ltd (AIM:HE1) ("Helium One" or "the Company") announces that it has received notice for the exercise of options over a total of 6,000,000 ordinary shares in the Company. Additionally, the Company has issued 56,638 ordinary shares in the Company to a service provider in lieu of cash payment."