Member Info for Scott22

They have separate licenses. The will test their own wells. They might need their own purification plants , or if close enough they could co-operate but would need pipelines to a common facility. They have to ship the gas in containers to Dar Es Salam port where it can be loaded on ships. Depending on size of the resource they might want to have access to a liquification plant in Tanzania, which would likely be a joint venture involving a number of producers and the government. All that has to be sorted out. First step is for one or both companies to prove a commercial helium resource.

1. Helium 1 well spud with new video from Lorna, well done. Next month will tell a lot for sure. We have been waiting for this since the well bore on the tiny mineral rig drill (Tai 1) crumbled and shut us down.

2. Noble Helium on parallel path targeting slightly different structures but same working helium system. They will spud within a few days and their targets (they also plan two wells) are shallower. Between Helium 1 and Noble the results will go a long way toward establishing Tanzania as a potential commercial helium province, or not. Total of four wells to take a shot at that.

3. Pulsar Helium. Lots of action. They have a discovery well from 2011 in Minnesota, the rift valley of North America. That well was a mineral rig drilling mineral cores (for copper nickel deposit) and ran into an pocket of over pressurized gas that was not flammable (no hydrocarbons) and tested 10.5 % helium. Primary helium, no hydrocarbons. After 12 years of inaction, this new company gained control of the land and mineral rights, went public 40 days ago, just signed a rig contract and will spud an appraisal well on December 10. That well will be of huge interest. I have been chasing primary helium investment opportunities all over the world, could MN (where I live) really become an important commercial helium producer? A totally interesting fact is that the founder and CEO of Pulsar Helium, just in Minneapolis drumming up some interest, is none other than Thomas Abraham-James. He was a co-founder of Helium 1 with Josh Bluett and they were the two who went to Oxford and got their Noble Gas group interested in starting the intensive work they have done in Tanzania. I do not know the details of why Thomas A-J left Helium One (I think in 2019) but he is still very much chasing Primary Helium, in my neighborhood and also in Greenland. Does anyone know why he left? The 40 day seasoning period for new foreign microcap IPO's ended today and I bought 10k to follow along.

4. Another very different primary helium source is in Saskatchewan (and neighboring Alberta) where there is trapping of helium in benches that are often quite thin. There are a number of players there but one public one is Royal Helium. They have some interesting discoveries including a wider zone called the Nazare that needs a horizontal fracked well to test for commerciality. They are about out of money having invested a lot in a production facility at Steveville in Alberta to produce two primary helium wells there. They have great off take agreements in place and once that facility starts producing and generating revenue, they will have better chance of pursuing a growth path by testing an producing some other similar prospects and then the much larger Nazare, higher risk and higher cost but bigger reward. That facility surely should come on withing weeks (it really better).

Pulled it up and it is gray. Better than red.

"We look forward to providing further updates once TD has been achieved and once the logs and initial analyses have been completed."

The English language is tough. That sentence could easily mean two updates or only one. Probably means two since the plural noun updates precedes the word and. And the word once is used twice.

Could have been more clearly written. Or just put ChatAI on the job.

Is drill team complete? They keep saying almost complete. Since it is their rig, that is their responsibility. Who is the lead, is it Mike Williams?

It is nice to have two horses in the race. Both have the same idea, find primary helium in east african rift basin.

Both have broadly experienced teams. Both are under-capitalized. They have slightly different type of targets, but still are both looking for reservoirs where migrating helium is trapped with good seals, and can be exploited commercially. Tanzania is supportive and will be happy if one or both develop a robust helium franchise in the country, or even if they get a good discovery and pass that on to a deep pockets multinational oil and gas company like exxon or total, or to a big industrial gas supply company like linde or air equipe.

Yes there are steps to get to 200 mmcf/day that will take 12-18 months.

BUT the path from 60 mmcf/day to 90 mmcf/day at Cascadura is very simple, just gradually open the valve on the Cascadura Deep well while monitoring it closely as the formation cleans up. That should happen within at most a few months with ZERO additional investment. Adding another 30 mmcf/day is huge. That alone adds 3000 more boe/d and pushes that number over 13000 boe/d - when last week the entire company was producing 2000 boe/d. Ramping Cogo to 24 mmcf/day needs a couple of new well s and some modifications at Shell facility receiving the gas. But it is dry gas and the facility at Coho Pad and the existing gas pipeline to central block facility can handle it without modifications. Could be added early next year.

Then there is so much more that will be unfolding. Asset swap and finalization of bid round award/s. Royston on pump. Cascadura C pad wells, Coho development wells, Coora legacy commitment wells. Exploration resumes with Kokanee, Steelhead, Kraken.

Then Cacadura ramps to 200 mmcf/day after new wells, tie in, liquids pipeline, and some additional equipment at Cascadura facility. There is a lot to do but it is all designed and permitted and not that complicated. And that alone, with minimal risk and modest capital DOUBLES the size of company again and boosts production to over 25,000 bopd. Lots to come.

CCB - "I’ve been super positive on this until Lorna screwed up momentum! "

Think of how long it took to get a rig, get a drilling crew assembled, get the contract in place with Halliburton for well services, etc. Plus it increases the chance of success. Plus there is urgency on the timeline after this long pause. Tanzania government for one would like to see this moving faster. Plus Noble is moving ahead on a parallel path and the path to exploitation may be easier for first mover.

Lorna estimates they save 4 million pounds by drilling sequentially. That makes the positive impact of the secondary the same as sale of shares at 10P. Because of all that I am okay with it. Lorna might have screwed up momentum. She might have added fuel to the momentum. We will see soon enough.

The "casc fixed price zone" for natural gas is the entire Ortoire Block. The NGC also the right and also obligation to buy all gas produced on the block at that price, and to construct the gas pipeline to any discoveries. (I don't know if the have any obligation to help with infrastructure to a pad a mile away (like Casca C) since they had talked about "to the wellhead". But I doubt it since that gas is running through the same processing facility).

It does not apply to the asset swap or the Cipero Block when and if if those are finalized.

The production well at Casca C is not quite as simple. The pad is complete and the Star Valley Rig is sitting there ready to go. So in that sense it is a simple development well/

BUT they have to build a 1 mile pipeline to the main cascadura facility on the A pad, they have to add a separator and some other stuff to the facility, they may have to get the liquids feeder pipeline from Casca A pad to to the main oil line to the south completed. That will take 3 1/2 months and cost $4.2 million and likely more as that was the estimate in 2022.

All gas on Ortoire block is fixed price with inflation factor. Can be renegotiated by either party after 5 years.

Re: horizontals, whether in stacked basins like permian, bakken, montney, or in Alaska. Trinidad geology is very different. Just saying.

Thanks for the mention of Pulsar Helium.

I live in Minnesota which is p[art of a NA mid continent rift valley with some similarities to the rift valley in Africa where they are trying to find primary helium. (Helium One and Noble Helium) . The rocks are a billion years old. So there are massive amounts of copper and nickel in MN (biggest undeveloped resource in the world) but probably will never be mined (blocked for decades in court mainly for environmental reasons). But in 2011 they were drilling a mineral exploration hole on the iron range west of Duluth MN and ran into a pocket of high pressure gas that had 10% helium (massively high level) with no hydrocarbons. They formed a private company called Pulsar Helium. They call this the Topaz project and are going to drill an appraisal well by end of this year. They just went public today listed on Toronto Venture as Pulsar Helium PLSR. (on TSXV). They start trading tomorrow and likely will eventually trade on OTC in US.

It would be too ironic if I was hunting for a primary helium mother lode in Tanzania and also Saskatchewan/Alberta (RHC and others) - and they found it in northern MN. The primary helium in Saskatchewan has much lower concentrations (.5 to 1.5%) Topaz has concentrations like some of the findings in Tanzania (mainly surface seeps and not yet proven in reservoirs with seals). 10% is huge. There would also be major advantages to a Helium source in US with the space companies and the ongoing efforts to bring more electronics manufacturing back to US. There are very strategic reasons to have a NA supply chain for helium and there may be incentives available (like there are in Saskatchewan).

Anyway I may put a tiny bit of speculative money in PLSR - and for sure I will follow that drill. Drilling for primary helium is also very ecologically sound - no methane to vent or flare. Carrier gas is usually almost all nitrogen. Sometimes there is a little CO2 which is not toxic and in small amounts. There can be traces of hydrogen. They have already shown that the high pressure gas at Topaz is not flammable. (so no hydrocarbons).

Anyway most helium comes from extracting tiny amounts from massive natural gas operations in Qatar and in Russia. I have been investing in primary helium - in Africa and Saskatchewan and have even followed the Holbrook basin in Arizona with dismal DME. But maybe it is in MN. Under my nose. And I do not think there are significant environmental barriers to exploit it, if discovered.

...is "the drilling crew is fully assembled and contracted" - and the share price would have gone up. But I guess that is still in process.

Everyone was looking for one little nugget of new information showing progress. And there really wasn't anything new. It is what it is. We need a discovery well as the next step. Hope it happens.

Helium One is poised for successful drilling campaign. Lorna is doing a good job for sure. My only worry is they have very little money and thy share count has steadily risen during the time I have owned this. Now over 800 million shares. That tends to blunt any steep rise in share price. I have not made a lot of money on pre-production microcaps when share counts have gotten over a billion. It might be better if after discovery they could do a JV (perhaps with an off-take agreement) to fast track production rather than selling huge shares at prices that do not reflect true value. Of course it would be best if they could sequentially sell a small number of shares (maybe 10 million at a time) at ever higher prices as the value proposition proves out. That is how the capital markets work best and substantial funds in increasing amounts can be raised if the share price is moving up smartly.

Latorre: That would be a very good day!

Shulvin: re: "share price holding".

It takes two clicks to get to the 5 year chart on this web-site. If that is share price holding I would hate to see share price falling.

Sorry for that typo.

Flat for years. Then one fantastic uptrend year starting June 2020 and ending June 2021. Then the absolutely brutal relentless slide since that point for now over two years. We have been living that daily.

I can't imagine what impetus could turn this ship around. The billion share count makes it like an aircraft carrier when trying to turn it around, and the momentum in the current (down) direction is just so powerful.

I thought they said before the rig was in Dar Es Salaam when they bought it and they recently trucked it out to the staging site.

But Mike Williams on the interview today said it came from Kenya and there were lots of details with the long move of the rig with border crossings, power lines, other stuff.