Member Info for Punter1234

The Helium is there, fact.

I can't see any real reason why the Helium concentration would be less than the historical DST. Probably higher given advance in techniques over time.

It really is just a case of flowing and at what rate.

The porosity of 4.6% from Sproule report is ok but the company estimates were 8%. So if you take an average of 6% that alone would be good for Leadville.

But when you factor in the perforation and the acidization, both designed to improve the flow then the chances are very high imho.

Not long now to confirm what company, and us, hope for and exepect dyor

EWT started 8th April.......RNS on the 16th April........

Operations at Sagebrush-1 continue to progress well, with the extended production test now actively underway.

Over the past week, the Company has successfully completed key preparatory and completion activities, currently completing cementing operations across the currently producing Ismay zone, pressure testing of casing, and drill-out of cement and bridge plug. These works are essential to ensure well integrity and optimise conditions ahead of flowing the primary target interval.

The next phase of operations will focus on the perforation and testing of the Lower Leadville Formation, the principal helium-bearing reservoir at Sagebrush, with perforation operations scheduled to start over the coming week as the programme moves into its key testing phase.

The Leadville test is designed to evaluate flow characteristics and confirm helium concentrations, building on historic testing at the Sagebrush-1 well, which recorded helium concentrations of 2.76%.

Quantum Chief Executive, Howard McLaughlin, commented: "We are very pleased with the progress being made at Sagebrush-1, with operations advancing smoothly through the initial phases of the extended production test program.

What sets Quantum apart from many of our peers is that we are not searching for helium - we already have a significant, independently assessed helium resource base. Our focus now is on confirming the historical helium concentration of 2.76% recorded at Sagebrush-1, and moving the resource into reserves, through appraisal and ultimately commercial development.

The upcoming perforation of the Lower Leadville Formation is a major milestone for the Company and marks the transition into the key testing phase. This is the interval we believe holds the greatest potential, and we are excited to now be entering this stage of operations.

Importantly, Sagebrush is just one part of a much larger growth story. With a substantial prospective helium resource base and multiple drill-ready targets at Coyote Wash, we believe Quantum is uniquely positioned in the London market as we move into the next stage of value creation.

Now 18th May nearly 6 weeks in...............no prizes for guessing how close we must be ;-)

Bit like you then I suppose..............

Get all the facts right..........just saying

Following the deduction of associated fees and expenses, the net proceeds receivable by the Company will be used principally for:

- Operational working capital

- Inez re-entry & perforation

- Corporate general and administrative expenses

This demonstrates nothing other than what it says.

Bills/Wages etc have to be paid all the time.

They didn't have the money to go back into Inez. Indicating it is not a minor job.

Some of us already knew how complex and time consuming long term off take agreements would take unlike the 2 week merchants.

@Valju don't be ridiculous I am a big holder here and always been positive and consistent in what I post. Nothing I say is going to affect the SP. The traders here, of which there are many do that!

If you got anything to dispute what I said please feel free to share it.

it is not a "potential" mishap. It is a fact what happened. As is the timeline. MY assumption of why is just that but based on facts, experience and logic.

I am not "worried" lol about it or else I would have sold. But that doesn't in mean in this "specific" case I am not impressed with how it has been handled and lack of info. Inez was going to be a game changer on results of those core samples. Plus the extra resources and hooked into plant. Something major has happened or else it would be done and dusted by now. That is just common sense.

ps you don't raise a lot of money and say it is also for re-enter of Inez unless you need it for that. That alone tells you the problem is not minor

So are you saying Bo is lying in RNS? he said why they haven't re-entered it. Big call there fella. The placing was also partly for re- entering Inez as RNS so not true either?

Think they might RNS it if in talks to JV perhaps? The US government, eh simply No.

Conclusion.........imho the drill snapping occurred a ling time before we were told about it.

They tried to fix it/retrieve broken parts and couldn't. There is no logical reason not to and get back on with the job.

Recovering snapped drill string parts (known as "fishing") takes anywhere from a few hours to several weeks. The time depends entirely on the depth, the condition of the wellbore, how clean the break is, and whether the broken piece is stuck in place.

Not as common and simple as Bo tried to make out imho.

Suggesting to me it has been unrecoverable and a side track could be the answer and why put off until after off take contracts.

Side tracks can be very complicated and expensive, hence the raise, apart of which was for "Inez re-entry & perforation" (RNS 2nd march)

I accept the time for off take contracts as the norm. The Drive was broken, fixed and then told us. It had obviously led to delays in the Plant. But these things happen.

Whatever your take on the drill snapping and causes the answers should have been forth coming more than they have. Undoubtedly they will in next 2 weeks. But I can't see any other answer apart from it is stuck/unrecoverable and the solutions is time consuming and expensive. Otherwise you wouldn't do it wouldn't you and get Inez flowing, get a resources upgrade, get it hooked up to the Plant and get those core samples and off to the Lab.

Ust musing and theory on my personal bug bear, Inez, and why I don't think we got anywhere near the whole story.

Rig Secured for Re-Entry: Helix has finalised a rig contract to re-enter the Inez #1 commencing the week of 17 November 2025. (RNS 13th Nov)

Targeting Hydrogen Source Rocks: The Company will remove existing production tubing and drill through to total depth, coring an additional 30-40 feet of ultramafic rock - the critical rock type responsible for natural hydrogen generation. "Coring the ultramafic interval in the Inez #1 well represents a defining moment for Helix. (RNS 13th Nov)

NB only drilling extra 30/40 ft even with ultramafic rock (like peridotite) being notoriously difficult and slow to drill through. Should only take 1-3 days.

However, It is exceptionally dense, highly abrasive, and very tough on drill bits. Even within a single rock formation, the degree of alteration can shift rapidly. This makes it difficult to maintain consistent drilling parameters (rotation speed and feed pressure).

But first clue to why it happened could be down to type of rock and whether they had the correct drill bits or just bad planning?

Inez#1 - Drilling operations have been running slower than usual due to severe winter weather. We are currently pausing operations until after the holiday season when the drilling campaign is expected to resume. (RNS 22nd Dec)

So if they started week 17th November it certainly should have been drilled by 22nd Dec. Unless they didn't start then, or the drill bit had snapped off already. But said nothing about that happening.

operations on the Inez No 1 well are progressing as planned. (RNS 12th Jan)

Very much highly doubt it unless had done virtually no drilling from 17th Nov. If so maybe drill hadn't snapped yet but...as said only 1-3 days drilling for 30/40 ft

During the final stages of commissioning, the Company identified a minor technical issue with the Variable Speed Drive ("VSD"), which had temporarily delayed the start of helium production. The issue has since been resolved, and the VSD is now operating seamlessly. (RNS 13th Feb)

NB they did say this after Drive fixed, fair enough, but still nothing about a snapped off drill bit which leads to thinking they trying to recover it and it happened whenever..

During the re-entry process at the Inez well, the drilling team encountered a "snapping off" incident where parts of the drill string have broken off from the drilling equipment. This is a common occurrence in drilling activities and means that components of the drill string will need to be retrieved from the well. (RNS 23rd feb)

the Company is fully focused on production and entering into offtake agreements and will re-visit the testing activities once it has entered into offtake agreements. (RNS 23rd feb)

Finally they fess up to it.

Still of the opinion that perhaps after seeing all the Data a big boy might just want to take the lot rather than JV.

Could also suit the company if the terms of a JV are too harsh?

Sure the Tanz Government wouldn't care as long as they keep their cut.

Question is of course is what they would offer and what would be acceptable?

Just musing while we wait. Nothing much left to talk about until Blue Star release so more news.

Of what we got and how materially de risked the 3D seismic made it.......well worth the money!

3D seismic technology is highly effective at showing trapped pockets of gas. It uses sound waves to create detailed 3D images of underground rock layers. Gas pockets show up as distinct visual anomalies—often called "bright spots"—due to the sharp drop in acoustic impedance when gas replaces fluid in the rock pores.

From RNS

Highlights

· Initial processing of the Sagebrush high-resolution 3D seismic survey completed

· Historic Sagebrush-1 well confirmed as a dual oil and helium well, with the Ismay Formation producing over 300,000 barrels of oil and a deeper Drill Stem Test in the Leadville Formation flowing non-flammable gas containing 2.76% helium

· Initial interpretations suggest large potential helium-bearing Leadville structure consistent with historic well data and prior independent evaluation

· 3D seismic confirms the structural interpretation previously mapped from reprocessed 2D seismic

· Early identification of new potential oil and helium targets at Sagebrush and Coyote Wash

· Results materially de-risk the planned extended production test at Sagebrush-1

Overall seismic data quality is excellent.

The Helium is there in abundance- FACT. Given the porosity in Sproule and the company's better estimates, the fact we have perforated AND acidization, plus the historic Leadville Well history.........I really can't find a reason why it should not flow at commercial rates with good Helium %

GL to us all but dyor and all imho

Now away for a bit again

Remember there is a chance of a "fulsome" update. That "could" mean an update after testing and before Lab results back. They would have the flow rates and probably on site helium concentration. Give them and say we await Lab results. But that would be enough to explode SP if of course as expected good/great.

Or, it could mean the fulsome update is the full RNS. Either way either could drop anytime from now.

@tariq4lyf No, first they are testing both layers as stated in RNS and no need to RNS results of lower layer alone. Besides they unlikely to send off lower layer samples alone. Will wait for both.

Secondly yes, they will wait for those Lab results even if they know from on site testing what initial results are. Which they will. You want "official" confirmation. Pivotal times for the Company........

IMHO the tests are going exactly to plan and in EWT's no news early is good news. They have given us a time guideline so not long to wait. That time line is exactly what you would expect. Lab turnaround times vary depending on how backed up they are but..................they are coming ;-)

Except it has been announced as in RNS below by Bo.

"Currently the Company is fully focused on production and entering into offtake agreements and will re-visit the testing activities once it has entered into offtake agreements."

Guess some folk can't read? No offtake agreements yet, certainly long term, or would have been in RNS. Therefore nothing happened at Inez (plus would be RNS)

Quite simple really, isn't it?

Until another RNS that is what stands.

Why Test the Lower Layer First? Besides the fact NB the company said it had the greatest potential!

IMHO they have definitely done the lower layer and have been doing upper layer. I think we will get one mega RNS with all results when had Lab confirmation. This could be any time within the next 2 weeks. Locked and loaded and wating to explode dyor

Flow testing a lower gas reservoir layer before the upper layer is a common practice in multi-layer production testing and reservoir evaluation. This selective "bottom-up" approach isolates the deepest or lowest-pressure zone first to gather baseline data while avoiding crossflow interference from higher-pressure zones above

Isolates Pressure Zones: Lower layers often have different pressure gradients or fluid contacts. Testing them first provides a clean, undisturbed baseline pressure reading before higher-pressure zones alter the wellbore dynamics.

Mitigates Crossflow: Gas naturally migrates from high-pressure to low-pressure layers. If you produce the upper layer first (often higher pressure), gas can invade and contaminate the lower zone, distorting test results and causing a false reading.

Prevents Liquid Loading: Lower formations might contain heavier reservoir fluids or water. Testing the bottom layer first ensures these fluids can be managed or produced without being pushed deeper by upper-zone fluids.

Standard Sequential Workflow

Well operators and reservoir engineers utilize Production Logging Tools (PLT) and packers to achieve this staged isolation:

Isolation (Packers Set): Mechanical bridge plugs or packers are set above the lowest layer, completely sealing off the upper layers. Lower Layer Testing: The well is produced or flowed, and pressure transient data (build up and drawdown) is recorded specifically for the isolated bottom layer. This establishes permeability, skin factor, and initial pressure for that specific section

Upper Layer Access: The packer is released and moved up (or an upper sleeve is opened), allowing the upper layers to be commingled or selectively produced and tested.

Data Comparison: By testing the bottom zone first, engineers can compare the initial lower-zone data with the subsequent multi-layer test data to evaluate the exact contribution and interference of the upper layers.

As you can see if is a step by step process, not rushing, getting it right and achieving the results we all expect. That is what takes the time but we know the finishing line is in sight. I expect SP to start climbing this week. However, as said, a RNS (or fulsome update) could drop any time from now. I sense the company excitement........

NB "will re-visit the testing activities once it has entered into offtake agreements". So when contracts signed off? Why couldn't we carry the work out at the same time? Could get it all done and delay the hooking up until Plant ready and would at least know results and have core samples at the Lab?

There is no compromise between the Hydrogen potential or the Helium reserves in the well. Currently the Company is fully focused on production and entering into offtake agreements and There is no compromise between the Hydrogen potential or the Helium reserves in the well. Currently the Company is fully focused on production and entering into offtake agreements and will re-visit the testing activities once it has entered into offtake agreements. As previously announced, Helix is continuing discussions with several interested parties regarding the hydrogen potential of the Rudyard Field. As previously announced, Helix is continuing discussions with several interested parties regarding the hydrogen potential of the Rudyard Field.

Personally think there has been zero progress on Inez which is my biggest bone of contention. Certain it would be RNS if had re-entered to recover string. got core samples, perforate and test it. In my mind just can't get away from just how badly is that string broken/stuck? and why couldn't seem to do it when happened initially? Had plenty of time to do so. It could well be that they have to drill a side track as it is unrecoverable. That at least would make sense for the delay in re-entering. Is there a Rig available etc? Something not quite right there.

I am sanguine about off take contracts because I understand the time scale there. Spot sales hmmm I think might have happened yet deem it not necessary to RNS it for whatever reason and cleared by NOMAD.

Has everything really come to a standstill until plant optimised and off take contracts?

sure we going to find out soon enough, but will it be before, or at AGM questions? Got to be before imho. So much news/plans we need to hear about. Just got to trust there is going to be a very comprehensive update shortly and it is all good news.

ps Ingomar? Drilling new Wells?

Https://uk.finance.yahoo.com/news/penny-stock-helium-one-cheap-061100870.html

This one of my end of the year XMAS goodies. GL all

Look in here occasionally as held shares in sock drawer for years but it seems dominated by one fantasist pushing their agenda. Who wants to know about anybody's family or "supposed" life on an anonymous AIM share chat board? Seems more like a Loose Women coffee chat tbh

Somebody's posts on here are like War and peace and just as boring.............