Member Info for Scott22

This is different than sub-sea drilling. Just saying.

shares are flat

Very interesting - they have to complete the three well drilling program on time and within budget to get the options. Even more interesting, they have to flow helium to the surface in at least one of the three wells to get the awards.

In other words the drilling program has to be on time, within budget and SUCCESSFUL - or they do not get the options.
I do not think I have ever seen a similar program on a company drilling three exploration wells, especially for drilling in an area with no proven reserves and no production now or ever.

If it was not covid time there would be more senior people from Calgary spending more time in Trinidad. That said Paul does have a lot of confidence in the people on the ground in Trinidad. That team hopefully has benefited from increased responsibility and their gain in experience in the long run may prove to be an asset. The company clearly has to make some things happen over the coming weeks and months.

No matter happens what this is an exciting well. It may even turn out to be an historic well.

1. The drilling program is over 5 years in the making.
2. The geological model is informed by 5 years of work by the Oxford Geology Department including extensive field work.
3. The exact well site was picked after analysis of brand new and more sophisticated seismic than they have had before.
4. They have managed to put a first class team of a world class drilling company in the field in a very rural and area (in covid time no less).
5. The drilling is supported by advanced scientific analysis tools, some of which had to be modified just for this project.
6. They are trying to do something never done before. Find a system where helium (from radioactive decay of uranium and thorium in the crust) has migrated and been trapped and sealed in conventional structures - in total absence of any hydrocarbon source rock or hydrocarbon migration.
7. Because of number 6, the goal is to find high concentrations of helium paired only with nitrogen. Advantages are high concentrations of helium, and not having to produce massive amounts of natural gas to extract small trace amounts of helium (as in Qatar) which links helium to production of hydrocarbons. Whatever nitrogen is there can just be released into atmosphere harmlessly.

I'm tempted to add more but probably won't as my basis is much lower than current share price. If they don't find helium I Kai I will track the inevitable pullback and may try to add at near my current basis.

Anyway, hoping everyone is well informed and really enjoying the next few weeks and months. Exciting story, exciting well, good to have a stake in He1 and a seat to watch it all happen with some skin in the game.

Total depth of well is fairly shallow. 24 hour drilling would probably require bigger crew, would certainly require strong lighting and more power supply. They are remote so emergency access to site likely to be more difficult at night too They are doing continuous testing as well with scientific instruments. Lots of reasons to do it this way.

Right now in Dar es Salaam there are 12 hours and 30 minutes of daylight. They are fairly close to equator (similar to Papua New Guinea or northern Brazil) so they don't get those short June days of more southern places.

Yes, Caerus shares (rather than JLP shares) have clearly - so far -been the way to play the initial announcement of the MOU with Jubilee.

That didn't really occur to me at the time and I do not remember anyone mentioning that idea here on the board. That is probably why I am not a wealthy investor.

"Pathetic" is a little strong - never bad to have someone look at the financials, even though you are right there has to be a whole different lens in a pre-revenue exploration company. It does still matter how much cash you have, where you got it, how fast you are spending it, possible sources for more cash if you need it, how much debt you have.

In this case they have enough cash for the first series of exploratory wells, and enough to drill several appraisal wells if they do have a discovery. If they do have a discovery hopefully they will be able to raise enough cash to build the first production unit by selling some shares at a much higher price than the current share price. We will all be happy if that is the direction we are going.

I'm not so frustrated, just want them to focus. I have owned shares since day 1 in 2014 (from my Petrobank shares). That excludes me from the "overly impatient" camp.

Just a few points, not really disagreements, just another way to look at several of your points, which I appreciate.

1. There is NO reason not to hook up the three wells that are ready to go, especially when they are extremely close to trunk pipelines.
2. Agree they could wait on Royston before deciding where to put their first batch of development wells. But Royston will require a separate spur from the trunk pipeline no matter what. They should not wait to hook up current the two Cascadura wells (or the Coho well) because of anything happening at Royston.
3. They are not using a new rig for Royston. They are using the same updated rig they used for Casca Deep. (the only one like that on the Island). The new Canadian rig arrives in September - or thereabouts. The are building a new road (or at least improving the surface of the one they have been been restoring).
4. I will look at CEG.

Have a great day and weekend.

Nice discussion, but one misleading part. When speaker is talking about "share based payments" he is assuming that these shares are being used for staff salaries (he says that several times). Actually the "share based payments" have been used to partially fund the recent seismic round and also to partially fund the initial exploration drilling program of 3-4 wells. The seismic has been completed and analyzed. The drilling costs for the initial exploration wells (and for follow-up assessment drilling if indicated) are all funded and the first well is being spud right now (early June 2021). The wells are being drilled by Mitchell Drilling, a large and skilled and experienced driller; the Mitchell company is taking shares for part of the drilling cost. (they actually requested that method for partial payment which is unusual and indicates some confidence in the upcoming drilling program). The only other comment that I would make is that while it is true that Helium 1 is high risk it is not exactly "pie in the sky" if that implies lack of any foundation. The geological model has been extensively studied by the Geology department at Oxford including a lot of on site work in Tanzania and several Oxford PhDs have been earned with theses studying helium seeps, helium concentrations in soil, and source, migration, potential traps and seals for helium in that geological system. It is a little more than pie in the sky, or if that, at the least a rich enough pie to put one's thumb into and taste thereof.

Thanks for sharing that analysis. Very helpful to have someone have a detailed look at financials. This was my comment after listening to the video.

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I am relatively new to AIM and hold three shares (Jubilee, Helium 1, and Touchstone) . This is a very small part of a very diversified portfolio. I was stuck by Splodge2001 comment that he had moved from large caps to current almost exclusive investments in AIM.

I decided to do a little research of the overall AIM market, fairly easy since there is an All-AIM index. There have been individual rocket ships where real wealth has been made. That has been balanced by disasters where real wealth has been destroyed. I wouldn't bet the farm, though there are perhaps more opportunities now with cycle for energy and for minerals very positive - such that there will be some small cap winners. Question is whether they will do better than mid and large cap winners in same sectors. But likely so for the star performers.

Here are some numbers to ponder, just looking at FTSE All-AIM index. (last column is S&P 500 on approximate dates)

1223 - May 2, 2007 1505
394 - December 2, 2008 876
946 - January 2, 2011 1271
1101 - September 2, 2018 2871
666 - March 2, 2020 2304
1284 - April 2, 2021 4128

Thanks for the link. The news coverage is always good, pretty much based on last London presentation. But it is also true that don't need more talk or videos or presentations or pr pieces . Paul has already proved that he does all that very well. But it is not having any positive effect.

Like I said - what they need is:

1. Pipeline connections (for three wells all set to go, Coho, Cascadura 1ST, and Cascadura Deep).
2. Sales into the pipe
3. Revenues

That is all that really matters right now. They need the cash (and the pipeline access) to drill the development wells at Cascadura that will quickly (if there is such a word in Trinidad) that will quickly ramp production to 200 mmcf/day.

Royston spud will be nice and should occur in next two weeks. But that will not move the needle by itself . A Royston discovery would be huge of course (and should bump the shares) , but that is two months away and test results from the Royston well (if a discovery) will be a few months after that.

And they don't have cash to do much at Royston (in terms of surface facilities and development pads and development wells) until they get Cascadura ramping and bringing in cash. They also need cash to put the Canadian jackknife rig to work when it arrives in September. They are committed to a $1 million fee to get it to Trinidad and then 120 days of drilling a year for three years. They simple NEED to get Coho and Cascadura on production.

Great post TrekMadone, shows clearly that we are rolling along. The timelines have been helpful, keep up the good work. (Trek company is from Wisconsin by the way, though most manufacturing is done in Netherlands, Germany, Taiwan, and China).

I only disagree with one prediction. I don't think the gas samples will have 2+ % methane. Here (unlike with DME in Holbrook basin AZ) the helium is migrating totally independent of any hydrocarbon system.

I do like the relatively green aspect of Jubilee, actually remediating some of the tailings and reducing toxins in the toxic waste.

I live in Minnesota which actually has a rift valley in the center of NA continent and has produced massive amounts of iron in the past (and some taconite now). Unknown to most we have the largest undeveloped copper/nickel deposit in the world in the northern part of the state. Activists have been blocking any attempts to mine it and it probably will never happen, despite ability to limit environmental damage here more than most places because we also have among the highest regulatory and environmental standards in the world. (though never zero, there is no free lunch).

People here want to drive electric cars and have a massive modern power grid to recharge them all, without mining an ounce of copper locally. I hope that Jubilee is at least benefiting the environment somewhat. Please don't invest in any copper projects in MN based on pr about the massive resource. There is a massive resource here (over 8 billion tons) , but the will to tap it does not exist. Even to reduce carbon use and save the world from global warming.

Until very recently, at least on SCHW, I had to place trades on the phone through international desk and pay $100 commission. I have been buying 10,000 share buys to even out the commission at a penny a share.

Today I was able to buy directly through the SCHW automated trading system. Commission is $50 but that is only a half penny a share on a 10, 000 share buy . Volume is still very low in US at about 42,000 shares per day as opposed to average of 11.23 million shares a day in London.

Shares that have traded today in US (only 26,000 so far) have all traded for 28 US cents which is about 20 pence. So buying 10,000 shares in London and paying $100 would cost US$ 2,800 versus buying 10,000 shares on US OTC and paying $50 which would cost $2850. Not much difference

I guess my point is that trading in JUBPF in US is very minimal and maybe there is a market here that could grow over time, especially if the July numbers are as good as I (we all) expect.

Cruse results will be interesting but will not likely lead to any action. It is only 1.3 km from Cascadura drill pad, but still they would have to build some surface facility at Chinook and then NGC would have to add a 1.3 km spur, and currently there is nothing going at Cascadura to that hook into. Plus there may or may not be some liquids in that formation which would require more surface facilities. (it will actually be good to sample that). Plus there is the little issue that the well bore is damaged. I tend to think this is a bit of a science experiment, which is fine, but won't lead anywhere, certainly not quickly.

Coho is sitting there with surface facility all built, no liquids to collect, just turn the valve but nothing to hook it to. Cascadura has two zones ready to produce at 4500 and 5500 BOPD. They have to build some surface facilities including tanks to collect the liquids. They haven't started on that. Then they say that the NGC pipeline spur won't be a time limiting factor - hard to believe that with the experience at Coho but who knows. They also have to get the design for the whole Cascadura development planned and approved (more drilling pads, development wells,etc) . At one point Paul indicated that just the application process might take until September. I sure hope they can make some progress toward producing the two shovel ready wells (Cascadura 1ST and Cascadura Deep) before all that has to happen.

Then of course there is the Royston well to spud and drill and hopefully test (if it is a discovery).

Can't imagine producing gas from 20 feet of Cruse formation at Chinook is near the top of any to do list.

Exercises another 113,000 at 23 cents. When will that gift go away. Everything else is slow but those share grants are right on schedule. That was not the RNS that I was looking for.

Go away, world is becoming too uncivil. "Dick brain' is simply not the kind of name calling that is normal. If you are a founder of the company, that is amazing and does not speak well of the company. Not really interested in further input from you.

Just announcing a JV with Jubilee seems to have done wonders for them.

Actually it was just announcing a six month agreement to study whether there is a good candidate to do a JV.