Member Info for Scott22

I see "Jul 21, 2021 - Jul 30, 2021" as earnings date,. NO press release about a specific date.

“I’ll just let the knuckebiters bite knuckles and leave this board to its own devices until the next RNS/update as it’s irritating me lol”

Okay. Sounds like a good plan.

I don’t think it is carping. I agree with the poster who said we are at a nervous tension time. Nothing wrong with that. It took more than 5 years of work to get to this point. I am very happy to have a seat at the event as it plays out in real time. Like the championship game for a team that has been working toward that goal for 5 years.

Follow Xavier on FB and on Twitter. Informative and enjoyable.

sorry a couple of typos -DME and RHC obviously round out my coverage of Helium space, not lithium space. AND ( not “one”) I have added PMG to my watchlist.

ThanksTrek - I don’t have a good handle on the small north sea operators and the relative opportunities of the companies. I have followed a couple one have added PMG to my watchlist. I limit my special situation/turnarounds (high risk speculative) to 5-6 stocks and 5 percent of my portfolio. If one of them “graduates” then I have to sell it or move it to appropriate small cap growth or small cap value bucket ( to do that I have to like it better than something that is already there). Right now I am holding TXP (which I hope graduates to small cap growth), helium1 , jubilee minerals, frontier lithium. I am a little blocked in because I also hold DME and RHC to spread out my coverage of lithium space. But I am always looking for compelling ideas.

I have been following Wentworth, a natural gas producer in Tanzania. They are small, not growing (yet), actually pay a dividend. They might play a role if Tanzania makes some economic progress, even to point of getting power to whole country. I like the CEO. I haven’t pulled the trigger on buying any. Maybe if I pare my helium picks to two of the three (all have some strengths).

My highest conviction stocks in this space are TXP and Helium1. TXP in my opinion is more derisked. Their wild idea of big conventional reservoirs in turbidite sands on shore in Trinidad is now proven! And they have a 25 year contract to sell the gas at at a high margin to the NGC that has the responsibility of building the pipeline extensions to the well pads. The only risk is execution of the development wells and there is major upside in the ongoing exploration program.

Helium1 is maybe more exciting overall - are they really going to find a globally important resource that will provide 10 percent or more of an increasingly important commodity - for the next 100 years! That is truly wild stuff. And we are watching it unfold in real time after many years of necessary preliminary work. Does not get much better than to have a seat at that show.

It is a Canadian rig and it is modern and high tech and maybe some of the crew are experienced Canadian operators, supplemented by local talent of course. Drilling has really progressed since the 50's and 60's. (needless to say). I own a couple of Canadian oil and gas companies of different sizes. Advantage is a small one. Ovintiv is a big one. They are amazing drillers. Ovintiv takes 9 days to drill 10,000 foot wells with 1 mile laterals. They just reported 55 wells in a row without a sidetrack at one of their main areas of focus. We don't have to do anything like that in Trinidad. But TXP can really have massive improvement from where they are operating now. These wells are into huge conventional reservoirs that can be drained by a few vertical wells with no fracking. That is not to say they are not complex with the high pressures but they should get better and better at doing this. They have learned from Chinook and from Cascadura Deep and from Cascadura1-ST. This new rig should be a step change in operations. There is nothing like it on shore in Trinidad.

I agree - if they can keep two rigs going full time they should spend all cash flow doing that. If the wall of cash starts to cover that cost and accumulate in the bank -then by all means pay a dividend. Getting to 3 rigs will be too much for them to handle,
in my opinion. Just beyond their scale and starts to present whole new range of problems.

... that the radio silence is because they are having more troubles with the well. Would like a little tweet showing DM with a bounce in his steps. Drilling for gas with a mineral rig with a small bore may be challenging. The plan is to drill the appraisal well (or wells) with a bigger well bore. Maybe they could switch to that for the next wells and be able to do appraisal on the same well bore. That has to be cheaper than drilling each prospect twice, and likely would be warranted if there is a discovery at Tai that increases their confidence in the next 2-3 prospects.

Hopefully by end of the month.

I am hoping the problem is that the accountants are having to work overtime to count the money.

I guess if Chinook Cruse is not commercial that would qualify - but that would be very dirty indeed as TXP has already talked about it as a discovery, shown us a flare, and told us where it will tie in at Cascadura first drill pad.

Nothing bad can happen at Cascadura or Coho as those three wells are all done and just waiting to hook up.

There won't any short term results at Royston. Canadian rig can't do anything but arrive and start drilling predictable shallow oil wells on the legacy side.

Really only short term news can be: 1. Chinook numbers, 2. Royston spud, 3. Coho hook-up accomplished miraculously (or even a plan for Coho done and pipeline construction started), 4. Cascadura plan accepted. A lot of the other stuff just ain't happening this year. And that stuff is pretty baked in and will just happen when it happens.

Cscadura hook-up next year, Cascadura development wells next year . Coora deep test - next year. Second Coho well (maybe) next year. Royston development wells (God willing) maybe end of next year, Kraken and other wells in second exploration series 2023.

Really nothing out there short term can be very disappointing, that is why it surprises me when share price sags. The next really exciting (with tension as it gets closer) news is Royston results, probably 2 months out.

I only own three AIM issues but investors on all three boards are sitting on pins sand needles waiting for the next bit of what is perceived as delayed information. In each case it will possibly have material impact on the shares.

1. Helium one is awaiting Tai results (which could prove commercial amounts of helium in Tanzania confirm the whole basin)
2. Jubilee waiting on 6 months operations update that last year came out on July 12. (But August 5 the year before)
3. Everything is late on Touchstone exploration - (well hook-up at Coho, test results at Chinook, and spudding of important Royston well (and more).

Maybe Monday will bring an RNS from all three companies. Have to get one off the three fairly soon, one would think.

Good positive and helpful commentary. Paul has been saying all year that impatience is our biggest problem. That is a lot better problem to have than no gas or oil found. The results of the first phase of the exploration program on Ortoire block have been pretty amazing and the biggest well (royston) of five well initial exploration program is yet to come. And there is a lottery ticket called Kraken in the three well second exploration program which has now been laid out.

You will never find a 100 bagger with 2.5 BILLION shares outstanding.

Even if they get only credit for royalties (as an agency of the government ) , wouldn’t they want more royalties?

Same observation I guess, if we are leasing the block why not give us the old seismic on the block. And if we renewed the same lease, why give us the seismic now. Just trying to understand that. What do we pay for the lease if they don't get any share of the proceeds. Is there a fixed fee?

Lots of good info. I had not looked closely at Trinity Exploration before, thanks for sharing that presentation!

Does anyone else find it just a little odd that Heritage has been a 20% partner on the Coora block for more than 5 years and has had some interesting old 3D seismic on the block that they never felt like sharing?

Can you point me to the RNS that talks about the government giving them the3D seismic on Coora block. I went through all the news releases and I can't find it.

Thanks, sorry for my bad posts this morning.

I wonder where TXP got the 3D seismic on the Coora block? The tweet just says they “received” it. I don’t think TXP was shooting seismic there, but just over by Royston in middle of Ortoire block. I wonder how old the Coora 3D seismic is?