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You can say that again!

Had a similarly terrible experience with CLON, bought in just before Sasanof duster. Ouch ouch.

Well, this hasn't turned out how I'd hoped it would - drilling delays caused by rig issues, I hate to think how much cash burnt paying for the delays, spares, repairs, specialist engineers and whatever, 2nd drill delayed until Jan '24 and now talk of further raises and 'unsolicited approaches' from mystery parties.

Holding a fair chunk here that owe me best part of 10p a share. Ouch.

Hold and hope I guess? Story of my investing life so far!!

Just popped in for a look.... jeez.....

Despite this being 'absolutely controlled by DBay' I see they are still continuing with the share buyback, day in, day out, which was meant to increase the SP/reduce the discount to NAV, but it hasn't.

Does anyone have any idea what is happening here?

Still watching.... but still unable to invest even if I wanted to as everything else I hold is in the toilet right now!!

I don't think you can call this a 'failed business' when they still have holes to drill and helium to find. All in the nature of exploration companies surely.

Everyone invested here accepted the risk when they invested. Sure we'd have liked a different outcome on Tai-3 but it is what it is, and the game certainly isn't over yet. 2-0 down at half time maybe but still plenty to pay for.

Incredible.

@ WiseOwlSpeak - please go back to the MATD BB, we don't need you coming on here saying 'MATD big RNS due', you've been saying that all year or longer to no avail, still waiting!

I'm invested in both but I won't be switching funds from HE1 or investing further in MATD for sure, that could drag on for months if not years.

@ LeddachJack - I think the crucial word there is "potential", doesn't mean guaranteed.

As much as we all want this to succeed - 2p, 3p, 5p or whatever - realistically we all know that investing is a gamble, it could just as easily crash & burn.

That's why anyone would sell I guess? And as I type I see the SP just fell back again ☹

@ ITV

I'm sorry to hear that, you have my sympathy and condolences. Been there and done that, not a good time.

It's a sad but inevitable part of life, but as awful as it is you might also learn something from the experience, I know I did.

I reckon if you can survive the trials and tribulations of the stock market you can survive just about anything.

Take care.

WOS is right.... no, sorry, meant to say WOS might be right. One day.

Same as a stopped clock is correct twice a day. It's inevitable.

One day.....

The SP of APH is half what it was just 6 months ago, that's a pretty terrible picture. Is it this decline that's having a knock-on effect to LDG SP maybe?

It seems Kempen Capital Management N.V. have just bought 10.189070% of APH so they must see some potential there.

Still watching....

... and yet, so far.

This is unfortunate, but in reality things break and need fixing, especially drilling rigs that have been under huge pressure and demand continuously for weeks on end, surely.

This is only a temporary issue and the hole is safe, all we are losing is a bit more time and possibly the 2nd drill this year.

It's a delay, not the end of the world.

Hold for now and await repair followed by results, maybe top up on the dip if you can afford to and maybe average down.

Don't panic.

IK 😊

Er.... 1550 minus 1448 = 102. They stopped 102m short of the revised TD, but still 348m deeper than the original target of 1100m, and according to Lorna 'deeper than this rig has ever drilled before'.

Plus they reached a significant fracture and were losing mud into it, so it wasn't worth trying to drill further - at this stage - and risk losing the hole altogether as that would have rendered all the work so far pointless.

She looked pretty pleased to me and we should know more once initial on-site testing has been done, maybe a week or so, but not sure if that info will be RNS'd or not. I'm guessing it will have to be, yes?

@ Sinequanon - exactly what I was trying to say in my 'missing mud' post earlier - they drilled into the top or edge of the gas reserve.

Now they need to be careful removing the drill or the whole thing just vents into the atmosphere via the big hole they drilled!

I know very little about geology and drilling almost 1.5km into the earth..... but I assume if the drilling mud was disappearing at 1,448m then it was going into a void at basement they just drilled into?

Am I also to assume - hope - that this void is the top of the reservoir containing all the helium and other gases?

Fingers crossed.

I know they only drilled a further 3m of an intended 105m but then I guess no one knows exactly what you will find at that depth, or exactly what depth? Mind boggling stuff.

You can say that again Wyn.

I can't even contemplate a duster, that would be a disaster for me.

Hi wyn...

Understandable delay due to a fault, will continue to TD once fixed - I'm seeing that as 'positive' compared to "it's a duster" "plugged & abandoned" or "we've lost the drill string down the hole, now we have to start all over again"!!

It's all relative 😉

Personally, praying for success here as over-invested and underwater. My own fault. Oops.

Thanks Sinequanon, that makes sense.

I didn't see today's RNS as negative - drill again once fixed then it's game on.

What a morning! So many posts to catch up on.

So now we know why TD wasn't RNS'd when we all expected; Lorna had stated she would RNS when TD reached and have to believe she would have... except someone moved the goal posts. By 450 metres.

As a relative novice I find it almost inconceivable they are now having to drill a further 40% over their original planned TD; if their seismic data was 40% off from the outset how can they now be sure an extra 450m is going to be enough? Mind boggling.

I don't have an issue with the rig outage though, we could hardly expect anything to drill to 1,445m and not encounter a problem or two, surely? Seems reasonable.

I'm assuming not much will happen now until the rig is repaired, so maybe an RNS later in the week to say 'drilling recommenced' then maybe another next Monday to say 'TD reached'?

Then keep everything crossed the helium shows are just the beginning....

I thought we might see an RNS this morning and if it was bad news it wouldn't have surprised me, knowing my luck so far.

So 'no news' is good news in one way, we still have a chance of success here.

But what else is interesting - after all the talk of HE1 being a leaky ship the other week - is that the SP has been in the 4.9p -6p range for 2 weeks, and presently somewhere in the middle. I think it safe to assume there have been no leaks as yet or we would have seen it by now, so that is also good news for us PI's, yes?

And just to give HE1 the benefit of the doubt re. time to TD, they did only ever say "approx 2 weeks"; many a time I have tackled a DIY job - some quite big - with all the tools and materials readily available and estimated say 2 weeks, only for it to take 6, much to the annoyance of Mrs. PatShare.

I reckon the SP will head back up to 6p today, maybe more, then hopefully we will all know for sure as & when HE1 give us the news. Next week seems likely now.

Fingers crossed, GLA.