Member Info for Scott22

JW (COB John Wright) sold 450k shares right before the London presentations last fall. Odor was terrible. Paul must have been furious.

They may have credit facility increased by time of the presentation but there is no way production will be at 55+. I am just praying it is stable at 48. There is no way to bump it up quickly other than a successful workover at Cascadura Deep to complete additional pay that is behind pipe. I have no idea what the timing might be on that. I don't know why they would wait if they think it is a great idea. Not very costly, would not even need a rig, would not cause any significant downtime.

A significant drop in the sp usually follows.

Not quibbling but share price cannot can't drop much from here. Market cap is 7 million pounds. There are 3.4 billion shares outstanding.

A 100:1 reverse split would at least reduce the spread and the fees per share which add a high percentage to the purchase price right now. I sure cannot sell any shares at a price close to what I have to pay to buy them.

Hard to see how that could even happen when they just threw out 2.5 BILLION shares at a quarter of a pence. What are they going to do, sell 10 Billion shares at a hundredth of a pence. Capital raises at these ridiculous prices simply do not raise significant capital.

Coho workover already done. Successfully. Plugged off lower zones to reduce water.

The workover that is still being contemplated is Cascadura Deep with possible completion of additional feet of pay to increase production there since the skin damage on what has been completed (and is now producing) did not clean up as hoped. That would take Cascadura Deep off line for a few days (maybe three days) and would temporarily decrease production from the main Cascadura facility by about 20 mmcf/day. That would not be an issue as long as Cascadura Deep came back at higher rate and there were no unanticipated problems.

The last disastrous presentation in December had three pieces of bad news, one sort of expected (Royston 1-ST did not flow on pump) and the second and third totally unexpected (2. need to increase credit facility to keep drilling schedule and inability to secure that increase as of the date of the presentation; and 3. Production at 48 mmcf/day and not the lower end of projections which initially was 60-90 by year end and had been dropped to 60 just recently) . Hopefully this presentation will have a few expected and unexpected positive items.

It would really be helpful if he had something positive to say. Like any one of these eight items, most of which we were hoping for at the disastrous December presentation. Needless to say those hopes were dashed.

1. On-shore bid rounds finalized. (Cipero and Charuna blocks)

2. Rio Clara asset swap approved.

3. Cascadura facilty production stable at 60 mmf/day. (did not happen, at this point would take some rework at Cascadura Deep with completion of additional pay).

4. first well at Cascadura C pad spud (we know that has happened so won't get much of a lift from that).

5. Coora committment wells spud with another rig.

6. Pick-up in Coho production after the plug to control water inflow from lower zone. (underwhelming results at disastrous December presentation)

7. Favorable negotiations on the NG pricing for Cascadura output. (or maybe a higher price for gas from Rio tied to approval of the swap).

8. Loan facility sign off to give them more flexibility (the need for that increase in loan facility was one of the negatives from the disastrous December presentation.

At some point a presentation has to offer something positive. An unexpected positive would be even better. In December we were also hoping for positive results from putting Roston 1-ST on pump (but no cigar there ) and news about Coho Development wells to include Coho-2 and a second Coho well that would take a peek at Gibba (now delayed to late 2H 2024.)

I'm not that big on actual brilliantly planned conspiracies.

The fact is that Slater may do very well with 71 million additional very cheap shares, but I cannot do that. Plus his early shares were incredibly cheap. So JLP at this price and share count has a minimal chance of increasing my wealth but might have a huge impact on his wealth. For me there is a better chance it goes to zero than it doubles from my US 20 cents a share basis. Still I am holding on to it because I am stubborn and would rather lose the remaining 40% than sell it and have regrets if it does follow the rosy path outlined in that podcast. The loss from here will not be that significant to me and there is a small chance of real success if the story I bought in to (JBL becomes a major player in tailings reclamation with extraction of valuable minerals and environmental improvement as well ) actually plays out. I would like to see that happen for many reasons.

Was that poem AI generated?

This narrative below was nice. But averaging down in a company as it is about to collapse is the worst idea. A phoenix rising from the ashes is also nice but is an unusual and mythical occurrence. Most dead birds lie there on the ground until someone picks at the carcass. I am hoping that is not the case here, but I fear it may be. I did decide to buy some rather than try to rescue the 4% of my investment that was left. But the dollar amount was small and I did it with eyes wide open.

Averaging down is in principle, fine. If you believe the market has over reacted, or that in fact the story hasn't changed, and the market has mis-interpreted the "news" then it can be an opportunity to increase your stock holding at a lower price, allowing for greater profits when you decide to sell.

Right now able to buy on US OTC at price near equivalent to .25 pence.

But would like to make small comment about impact of ultra low share price.

As you know US shares get delisted from NASDAQ if share price slips below a dollar and stays there. There are some tricky manipulations with reverse splits but there are some advantages. Mainly the impact of spreads and fees. Spread is often a penny or less, reliably under 2%. With shares at a quarter of a pence, spreads can widen out to 10% or 25% or more. Makes it hard to get back to even let alone sell at profit. Then there are the trading fees. I have to pay $50 to buy AIM shares OTC in US. Theoretically on 100,000 shares that is only 15% but partial fills can get very pricy since not pro-rated. I also have to pay the $50 to sell so it takes a big move to get out even.

There is a reason why most shares under $1 on US OTC eventually go to zero. I am sure there is data on AIM shares that trade less than one pence. I would say that overall it is not good.

Happy New Year everyone and good luck. Hoping for a problem free drill, a helium discovery with flow of gas to surface (and not just helium in water). That could bring shares back over a pence.

That is the one good thing for TXP. We have had the opportunity to buy the plan at a reduced share price for a very long time. This brutal downtrend continues. It started on January 2, 2021. TXP is so undervalued that a reversal and a little optimism could drives shares up fairly quickly. But it is getting hard to imagine what it will take to make that reversal happen.

Hard to be too optimistic, but what is the option. At least we have met the literal definition of a penny stock. And beyond.

Isn't AI wonderful?

It's like trying to catch a slow falling knife until the funding lands.

The knife has already fallen and has stuck deeply into the body of Helium One. It has absolutely now become a case of whether a Phoenix can rise from the ashes, or more accurately from the rapidly cooling corpse of the company.

You talk utter bolockkks my friend.

Noble just raised, and are doing fine, HE1 have headroom, albeit tight

I don't see how you think He 1 has headroom. That is crazy as a loon.

And Noble 1 did a dilutive secondary at a depressed price to raise enough money to test an already drilled well. That is not ready access to capital. If they have a discovery that is fantastic and commercial they will need more than $50 million to drill a couple more wells and build some production facilities. Peanuts for a big company. Noble will have to make a deal deal with someone.

There may be a commercially viable primary helium resource in Tanzania.

Unfortunately Helium One does not have any money. Ready access to capital is a requirement to move this forward. Once they prove a commercial source then someone with capital will likely step in. Same goes for Noble Helium to a slightly less immediately critical degree. The exxons and the total energies and all the major industrial gas suppliers would like access to new helium resources in different parts of the world to meet the growing needs of local supply chains for relaible access to helium.

I was able to buy 50k at 2 cents on US OTC this morning. (about 1.5 pence). It will be my final purchase one way or the other. I lower my average share price by doing this and will better participate if the company survives. If the company goes under I don't lose that much more beyond what I have already lost, and I will have a tax loss. Somehow I could not bring myself to simply sell what I have left (a small dollar amount) with an important drill in January and the company all set to evaluate the resource immediately if they do get that elusive discovery. Just too much risk of seller's remorse if I bail out now and they do pull a rabbit out of the hat. Anyway, that is how I am playing it. Good luck to the long term holders here right from the start - it is a great story. Just it is not yet clear (despite analysis by Oxford Noble Gas group) if it is true that there is a massive primary helium source in Tanzania that is commercially exploitable and will position the country as an important supplier of 10% of world's helium needs.