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Seems to me that if SOFORI don’t act on the rectifications requested by HE1 then we go with Marriot. Sounds like we see advantages with the SOFORI rig?

Also I don’t think we know to what extent the LOI with SOFORI has tied HE1. They probably have to issue the rectification notice to get out of it. So reasonable to do it this way.

Nobles hand forced because waiting for HE1 to go first risks not having time to spud this year. It was always too tight for them.

And there ends my glass half full view of this.

Staggering that noble actually states an HE1 decision in its release. Did HE1 authorise that?

If the Sofori rig LOI falls through we will get an RNS next day. It hasn't happened.

I'm not defending the lack of comms. It would seem obvious to me that they could have put out an operational update in June, however they didnt so nothing has changed.

No point trying to turn the lights on in room we don't see folks.

I think we all expect the SP to fall today if we didnt get news.

No bad news either but it remains a poor show from the BOD. They should be updating us even if it's just to say they are still progressing to a Q3 drill.

Hopefully we get the rig contract and shipped RNS any moment now.

Share price just started to show a little optimism for Monday. A little.

As Ive got older Ive been amazed just how low a bottom can fall. It seems there are no limits.

If we don't get news on Monday, will Noble need to break cover and explain. They have said the rig would be shipped end June have they not?

Nope. It really can take that long and longer to negotiate and complete even a relatively simple 2 party contract. And then there is the shipping stuff and cross border paperwork etc. So 12 weeks is really not unusual at all.

Yes they should be providing operational updates considering what is at stake for shareholder.

To be fair I don't think it's late yet. But I do think it's a poor show not keeping us informed.

For noble to spud in Q3 it will start to look unlikely if nothing happens soon and that will force them to issue more comms. This will likely force HE1's hands if there is a problem.

I'm still expecting an imminent RNS on the rig that shows tangible progress and hopefully that it's all sealed and shipped.

Legalwolf - didn't think you were being condescending. I enjoy the debate. All points well made.

Legalwolf. I don't have a very strong view on it. I just don't think that there is anywhere near as much 'manipulation' as PI's think. Just a falling share price because of the lack of news and nerves.

Completely on board with this turning golden if we get that rig RNS.

I bought some at 5.72 today and that gives me a batch to sell on good news. I think that batch will bag quite easily.

I don't think a shake out works. Ultimately whilst it may seem like buying at these lower levels provides more investment potential I honestly think that with these AIM stocks that if when the good news comes we are at a lower SP the SP on the bounce will spike at a lower point than it would if the SP was higher when the news arrived. It only harms the company to not maintain solid comms to the shareholders.

It's about balance. Surely Lorna could have provided an operational update in early to mid June. Other firms do this. The RNS doesn't have to be just for material news. Or why not Tweet something? I don't want to go back to the days of Golden Dave and his Helium bubbles but somewhere in the middle would be better.

Rubbish. HE1 made it clear they could go it alone without Noble if they could not find the funding. The Noble relationship provided a more cost effective option but it was not the only option.

The SP today is perhaps a gift. I bought a few more. My risk and all that.

It would have been great to have more comms about the drill itself but I did note they sent out a positive RNS about the potential scale of the helium at Tai in late May. I think I almost forgot about that.

There will be comms soon now. The SP fall cannot have gone unnoticed this week.

Dai - only just appreciated your Hobo pic!

Does anyone else have the theme tune from The Littlest Hobo going around your head every time they think about HE1?

Yep it's actually too late now to think differently. We have to assume the RNS is due and look forward to it being good news.

Any moment/day now I should think!

Part of managing risk is managing fear. However it isn't fair to just say that anyone has been worrying the SP down. People like to be updated.

Right now the situation is this:

1. We might get an RNS confirming we have a rig contracted and on its way to the drill pad. This is today more likely than ever, mostly because we are at a closer proximity to the material events for Q3 drilling.

2. We might get an RNS any moment that says the LOI with the drill company has fallen through for whatever reason. This is also more likely than ever considering how long it has been since the LOI was announced and how close we are to needing to ship the rig.

The longer we go the more binary it gets.

So those who have de risked - they are managing the risk. We shouldn't assume everyone who sells HE1 shares today is selling all of the HE1 shares they own. De risking is sensible if not very exciting. It does drag the SP down.

HE1 should be keeping investors informed - not every day - but its been too long now.

I decided a long time ago that I would stick this out at least until SPUD and at the same time knowing there is a risk we don't get to that.

The SP currently suffers from de risking (can't blame anyone doing this). Don't forget there are shares out there below 6p still - the placing and those like me that bought some at that time under 6p.

My glass remains half full but the beers certainly lost it's froth. Come on HE1 - update us please.

Do you feel lucky?