Member Info for orslega

RNS " Hydrogen also flowed to surface during basement testing, at a concentration of 2.2% hydrogen, over thirty-seven thousand times above background levels".

There has been little discussion on the gold hydrogen find. Strange also that there has been no additional follow up comment at all - maybe they are waiting on further results?

Listen again what LB says from 3 min on re hydrogen - she talks about that will be looking to see if this can be monetised: not unlike Noble plans.

https://www.youtube.com/watch?v=VMkvHfmJupY

So as usual Zac got that last prediction spot on...not; drop to 0.89, doh....

Bob Hope, no hope springs to mind.

He needs to focus on fundamentals, then he might get closer to what's unfolding.

Shorting didn’t last long then, lol

Note most brokers will need permission to allow shares to be lent as part of a shorting plan.

Many retail providers will not participate in shorting, for example Hargreaves Lansdown.

No short positions notified:

https://shorttracker.co.uk/company/VGG4392T1075/

Regardless shorting HE1 at this stage is very risky. One release of good news will burn anyone with a short open. Good.

Next news:

RNS 7/3/24:

‘The Company is currently advancing its subsurface modelling and updating its internal resource estimates in order to determine the best path towards the commercialisation of Itumbula.’

Could come anytime - remember LB said she wasn’t waiting for postal sample results.

An informative post amongst the noise from seisprocessor.

"The low frequencies, 0-10Hz, missing from the seismic data can be added in from the well log data/synthetic seismogram. This is done by converting the time based data into the frequency domain and combining the data using a process called broadband seismic inversion.

So this needs to be done at Itumbula and Tai on the available data in order to better delineate the basement features and understand the resource estimates, and hopefully they are progressing this work quickly as I'm sure there is a lot of work going on in the background that we don't know about. "

RNS 7/3/2024 tells shareholders that they are doing exactly that right now - second para:

"The DST results from Itumbula West-1 well have demonstrated that the well has flowed the equivalent of 0.5 mmscfd of 4.7% helium (without any artificial lift) from the fractured Basement and faulted zone. These flow rates in a pure helium play, without the presence of hydrocarbons and carbon dioxide, indicate the uniqueness of this helium project.

The Company is currently advancing its subsurface modelling and updating its internal resource estimates in order to determine the best path towards the commercialisation of Itumbula."

When they know these crucial results they have to release them to the market. Looking forward to that, and hopefully the element of a very nice market surprise.

The drill purchase - in the latest unaudited interim accounts - is showing the cost at $2.5M.

Rig Acquisition

Following the extensive evaluation of rig options, and, in order to remain on the critical path to a Q3 2023 spud, the Company successfully completed the acquisition of the Epiroc Predator 220 drilling rig in July 2023 - an oil and gas type rig capable of drilling to depths in excess of 2,000m - and its subsequent mobilisation to the Rukwa site. This was a highly significant achievement for the Company as ownership of the rig provides the opportunity to move quickly into further operations without the additional cost of keeping a rig on standby or the challenge of mobilising another rig into the country.

While we wait for next update:

https://www.epiroc.com/en-cz/products/drill-rigs/well-drilling-rigs/predator-drilling-rig

Not so, I spend very little time. As you will see I’ve spent 4 weeks on this board thereabouts- those 62 numpties appeared in that timescale! As a new investor here I am interested in working out the dynamics and use the boards like this to gain further knowledge/insight. Filtering tool actually saves me much time scanning. Without it I wouldn’t bother.

Ha - since adding HE1 to my investment portfolio here very recently, I already have 62 numpties on my filter list, thankfully. Spot most of them in zero time, one or two are more subtle but transparent in their aims. For sure we’ll see more.

Block out the noise. Concentrate on the prize unfolding here. GLA genuine investors, unsurprisingly there are many.

Important: in relation to the 31/12/2023 cash balance you also need to add in the £4.7M raised last month - this was after the Itumbula drilling, so their bank account should be looking quite good atm:

RNS 07 February 2024

Helium One Global Ltd

("Helium One" or "the Company")

Company raises £4.7 million via a company led placing

Tiger - exactly right.

That is what AIM is all about for a company like Helium One at this stage of their development - high risk but potentially high reward if successful. And for balance, complete wipe out if zero success - ie shareholders no longer want to bank roll financing, too risky. Companies list on AIM to raise finance, simple. Since listing on AIM in December 2020 (so really not very long in O&G exploration terms) HE1 have raised around £35M - there have been a few warrant conversions - but the mainstay cash raised has been as follows:

December 2020 on listing £6M

April 2021 £10M

September 2023 £6.8M

December 2023 £6.1M (this was the one at 0.25 - 72% discount - the one which nearly wiped out many)

February 2023 £4.7M

They will have cash leftover from recent raise, but no one knows quite how much but the latest accounts said:

Net cash balance at 31 December 2023 of US$8.7 million

Then add in February 2023 £4.7M. Then deduct - the unknown - the spend between 1/1/2024 and today plus commitments.

But in latest accounts issued this week the Chairman states:

"The company led placing provides Helium One with sufficient working capital to progress its planning for the next stage of the work programme in Tanzania."

So it seems no immediate need for cash but down the line (this year) expect a raise but hopefully at a higher level than current sp.

As an investor (I do not trade, no time for that) it seems to me that the success at Itumbula imo is the start of some proper de-risking the basin potential. The Tai drills to some extent have also de-risked the overall understanding, with the drill to Tai3 basement in due course is expected to show high helium yields. Yes of course they have more work to do, the planned extended well test in coming weeks and modelling.

But could this be the next news - bearing in mind Noble released their "probable huge" gas acreage after the first drill results?

"It is now also advancing desktop work, to compile resource estimates and subsurface modelling."

Resource estimate update from HE1? If good news that imo would materially affect the sp before extended well testing. Not impossible. Catch many out, the element of surprise.

At least todays market cap of £67M is broadly 50% more than what they have spent to date. That cannot be said for probably over 95% of companies on AIM. Say they end up spending £50-65M and are successful - what will the market cap be then? Humongous, no doubt.

Until next news, HE1 traders paradise (think someone commented HE1 is the most traded share on LSE) - until that is when they turn the corner. Fundamentals are right now pretty much irrelevant to traders - the share price is simply driven by traders. Ignore the noise. If you believe in the story add the dips, 2024 imo will be transformational year. Really not long in the scheme of things to go. GLA investors.

This imo will be the next driver, could come any time.

"It is now also advancing desktop work, to compile resource estimates and subsurface modelling. "

"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%.

RNS: "Drill stem test ("DST") results carried out on the Itumbula West-1 well calculate a minimum flow rate of 0.5 million cubic feet per day ("mmscfd") containing 4.7% helium"

The flow rate will be improved on : )

As they move closer to commercialisation, some on here might not have seen this video. December 2022: David Mincham (previous HE1 CEO) explains the route to market/model etc this in one of his last interviews as CEO - aswell as some other good background information - but fast forward to 16.5 min - 20 min for the finance model. Extraordinarily high margins.

He talks about Tai as the potential discovery well but from memory (got in late here) they didn't manage to drill into the basement - something Lorna B has flagged to return to - almost certainly I expect after their Itumbula result.

https://www.youtube.com/watch?v=CLhAwmGlCos

Future looks very bright - atm they are only just touching the surface, so to speak. There will many industry eyes watching. Patience.

Yep: I did say earlier why no comment on hydrogen.

"In addition to helium, the Company also successfully flowed hydrogen to surface during Basement testing, at a concentration of 2.2%, over thirty-seven thousand times above background levels"

Very interesting to note that there was no comment in today's RNS about hydrogen. Maybe that will be the next news? One step at a time.

"The Company is currently advancing its subsurface modelling and updating its internal resource estimates in order to determine the best path towards the commercialisation of Itumbula."