Member Info for Scott22

dh: that is a lot of speculation and hopefully unneeded worry. But who knows? The amount of legal details that can be attached to a contract can literally be infinite.

dunderhead: good points. I may be too rosy on this. I have listened to all of Paul’s interviews about this, but you are right that we should let it play out.

PB has been clear on this. Star Valley Rig will be drilling or moving to next site and setting up. They will eventually have two rigs part of the time. They won’t go beyond that as PB has stated that is too much to manage (staffing and support including infrastructure build out) with available resources on shore Trinidad.

dunderhead: maybe I should have included management changes as potential catalysts.

1. New board members were just appointed.

2. Jettison a couple of old board members including John Wright.

3. Make Paul Baay COB while continuing as CEO.

4. New in-country COO.

Brutal delays and painfully depressed share price for sure.

But there are many potential catalysts that could power these shares higher in the short to intermediate time frame. Some are pretty likely, some are entirely speculation. And admittedly there could be bumps ahead as yet unsuspected. But for now how about a list of possible catalysts to a turnaround and start of upward movement.

1. Coho on line and at least expected rate.

2. Cascadura EIA approved.

3. NGC starts drilling the 20 inch pipeline spur to Cascadura.

4. Work on Cascadura facilities begins.

5. Star Valley rig is activated for the two Coora legacy commitment wells and the sequence of first 5 wells of the continuous drilling program is announced.

6. A fantasy of mine - NGC announces an inflation adjustment on the natural gas price (little compensation for LONG wait).

Then a little further on so many potential catalysts all within next 12-18 months.

Cascadura on line, Royston ST good result and also selling oil on LT test. Royston Deep proves up the sub-thrust - also on LT test. Cascadura development wells. Cascadura liquids pipeline built. Coho development well doubles coho production. Other exploration well results are favorable. Chinook up dip well. KRACKEN. Then there is the possibilty of positive results on on-shore bid round with TXP awarded Guayaguayera block! Plus possibilty of fiscal reform.

The potential is astounding. Performance of shares has been astounding in opposite direction.

that was a typo - designed for 250 mmcf/day

Good thoughts smasher - we all need a pep talk right about now. Company has had some stumbles for sure, but share price has been savaged beyond that and is discounting all the positives. One thing that I like to remember is that NGC has chosen to build a 20” gas line into Cascadura site. That is a very large pipe - depending on compression can transmit a boatload of gas, designed for 350 mmcf/day but likely even that could be boosted if necessary.

smasher: I have been thinking of Cascadura as potentially a 1 TCF or more field, given the incomplete testing that you mention.

I don't know if they will re-target sub-thrust it but it is still there. If they are drilling a beautiful and safe Cascadura development well. They could case it and sample the sub-thrust before completing and producing the proven higher zone they are targeting with the development well. Or they might not want to risk it and might drill a real "Cascadura Deep" well off into the future.

Investing goals: Holbrook Basin in AZ was pretty amazing helium source from 1961-1976. Total of 9.23 BCF of Helium was produced from 22 wells in 3 fields. The most prolific was the Pinta Dome Field producing 6.5 BCF of helium from 11 wells. Some of the wells produced 10% Helium (90 % nitrogen so primary helium) from only 1000 foot depths. That experience is what makes me think that major production of primary helium from Tanzania is certainly possible, especially with the 10% helium gas bubbling to the surface. The best Pinta Dome well was the Kerr-McGee 01 Macie State which produced a massive 1.779 BCF of HELIUM (yest that is helium, not total gas) over 15 years. That was almost a third of the Pinta Dome output over that interval. They stopped producing helium in Holbrook basin in 1976 because prices were too low to be economic to drill more wells. (plus they did not have another area as prolific as Pinta Dome).
DME is trying to become a major producer there. Like He1 they are targeting gas with helium measured in high single digit helium content. RHC is targeting primary helium in Saskatchewan but the gas they are trying to exploit has about .5 to .8% helium, concentration much higher than in natural gas fields like Katar and Russia and even some basins in US like Hugoton field in Kansas. Anyway DM has his eyes on the prize and the prize is primary helium with 5% or higher concentration. He was tantalizingly close next year. He wants 2022 to be the year of discovery. If so 2023 can be the year of production and revenues, probably with help of JV partner or at least major alliance that includes off take agreement and guarantee of supply for some support to get started.

Plus they never got to Cascadura Deep despite the name of that second well. They never got to the sub-thrust at all at either Cascadura wells. Because they almost lost control of both wells due to high pressure.

InvestingGoals: DME operates in Holbrook basin, has had some environmental impact issues related to a municipal community well but not the issues you report. Holbrook basin decades ago produced 6 BCF total helium over about 10-15 years from six wells - but shutdown at a time low helium prices. One well produced over 1 BCF. DME currently has a number wells already drilled and tested and is on fast track to production.

text editor troubles or just thick thumbs : small companies is not small chunks moanies

daibelts: DME board has 7 members - 4 are full time employees who are managers within company for including CEO and CFO. There are 3 independent body ard members who are of course very part time. One is a Conoco engineer, but also appears to be daughter of CEO. One is Dr.Kelli Ward who is somewhat controversial right wing AZ politician presumably chosen for political influence. On is a lawyer and retired judge who doesn’t seem to have industry or sector expertise but has legal and business expertise.

I think TXP should get JW out of COB role and have PB as CEO and COB. With small chunks moanies that is sometimes better and streamlines decision making and makes accountability more clear. Plus I do not trust JW to necessarily represent shareholders.

Desert Mountain in AZ has drilled a number of wells and has worked hard on strategies to preserve integrity of well bore. Maybe some of our Helium 1 technical people should talk to them. It is likely DM or someone from the company connected with them in Houston last year. This from today. DME is also way ahead on building a production plant (run by solar power no less) and will be ramping production from primary helium wells long before He1. The question is how will He1 have access to capital to get to production. But first steps first. Get a rig, drill and a good well, make a discovery, and prove commerciality. That is a massive amount of (possible) progress for this year and will open doors to next steps. I had initially focused in on three public companies trying to exploit primary helium. I chose He1 and RHC after worrying about DME leadership and also some permitting problems in Arizona. I felt Tanzania and especially Tanzania were potentially more open (fewer barriers) to natural resource development. Plus He1 has potentially much bigger resource. But I kind of wish I had just split my investment three ways. I kind of did that initially but I rolled out of DME at nice profit and upped stake in He1 and RHC. And I sure wish we could magically transport this rig and crew from Gunnar Dome to Rukwa.

The Company is pleased to announce that the rig has been released to us and will be mobilized to our Gunnar Dome prospect in Arizona. The intended depth of this well is 4,500'+- and is designed to test all zones to the top Granite Formation. We will be utilizing our same successful drilling procedures, including multiple casing strings designed to protect all zones and the environment. Our geologic modelling suggests that the gas composition should contain high concentrations of nitrogen. At this point, we would anticipate initially running any commercial quantities of helium through the plant currently under construction by GENERON.

wyndrum: You are so right. If anyone had a TA tool that would predict reversals in either direction, then everyone would be rich. All the signals are best appreciated after the reversal has already occurred and the new trend in the opposite direction has been established. TA measures strength of a trend pretty well. But have all these "oops" moments when there are no signals but an uptrend or a down trend is about to fall apart. Trend lines, momentum indicators, contrarian sentiment, specific patterns are not set in stone. Wedge, cup with handle, double bottom are best seen in rear view mirror. And if double bottom doesn't play out, just wait for a triple bottom. My favorite may be the sushi roll or 10 candles canasta. If any one of these worked well, there would be no excuse not to be rich. Meanwhile huge losses can occur (or huge gains) by timing a reversal perfectly. Peter Lynch would not be famous without Chrysler (and Lee Iacocca shilling the K-car, maybe worst US care ever) and Freddie Mae and Freddie Mac. Worst charts ever.

Speaking of K-cars, I bought one (helping Chrysler and the Magellan Fund) and it died at 38,000 miles. Took it in and they said - "It wore out." Oh well.

"Reaching these significant milestones announced today put us in great stead for the financial year ahead, and beyond."

Nice to know we are in great stead. Even good stead would be okay.

listening

MJ: I may be naive but I LIKE the idea of general manger being from Trinidad and having grown up within Trinidad oil and gas industry. I say just do a careful and honest performance review as in any good company. Then replace him in that position if someone with more skill is needed. But I do not believe that there are not any highly qualified candidates who are passionate about the company and the country too. Maybe the next stretch will be increasingly smooth and this painful period was impossible to totally sidestep, for a variety of reasons beyond control of the general manager.

strum: good call!