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Net cash balance at 31 December 2023 of US$8.7 million + 4.7m raised since. possible JV. could also let out the rig no cash needed.could also per sell the gas.the 5.3p is there valuing for now and 20p when things get going . could be quicker than some people think
Net cash balance at 31 December 2023 of US$8.7 million + 4.7m raised since. possible JV. could also let out the rig no cash needed.could also per sell the gas.the 5.3p is there valuing for now and 20p when things get going . could be quicker than some people think
Net cash balance at 31 December 2023 of US$8.7 million + 4.7m raised since. possible JV. could also let out the rig no cash needed.could also per sell the gas.the 5.3p is there valuing for now and 20p when things get going . could be quicker than some people think
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Helium One drill results 'highly encouraging', says investment bank
Published: 09:03 08 Mar 2024 GMT
Written by: Ian Lyall
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Helium One Global Ltd
AIM:HE1
OTCQB:HLOGF
Helium One Global Ltd -
Investment bank Liberum described Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF)'s drill stem test (DST) results from its asset in Tanzania as highly encouraging, though it also noted these are 'early days' in the process of unlocking the potential of the project.
The hotly anticipated update on the Itumbula West-1 well measured a minimum flow rate of 0.5 million cubic feet per day, with a helium concentration of 4.7%.
The company now intends to carry out a more extensive and detailed extended well test (EWT) on the same well in the third quarter of 2024.
It is now also advancing desktop work, to compile resource estimates and subsurface modelling.
Helium One also revealed it is starting talks with potential vendors for production facility engineering.
Liberum, in its note to clients, said: "HE1 [Helium One] continues to evaluate the success at Itumbula and aims to achieve commerciality at the earliest opportunity.
"While still early days, the DST results are highly encouraging in our view, and a subsequent EWT may provide the potential to fast-track production and the company may engage with suitable off-takers in a success case.
"The company also reserves the optionality to deepen the Tai-3 well further into the basement to evaluate the helium potential, which we see as a quick way to prove up further value across HE1’s asset portfolio"
Liberum is a 'buyer' up 20p. The shares are currently changing hands for 1.55p, down 13%.
The live Helium price today is $8.97 USD with a 24-hour trading volume of $140.48K USD.
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Director name: McDonough,Ian
Amount purchased: 56,754 @ 7.89p
Value: �4,476.76