Member Info for Skippysb01

We are not in NHE control. In fact it is the other way around. HE1 is leading on the rig side.

It feels like NHE are leading because they are being way more vocal (repeatedly saying the same things IMHO) but it will be HE1 who drill first and lead on the rig side assuming it happens.

If I was invested in NHE my biggest fear would be HE1 delays because we are only a few weeks away from it being too late for them considering they have to wait for HE1 to finish with the rig. HE1 has a good few weeks left to still get the contracts done and land a drill in Q3.

I would prefer more comms from HE1.

I like the update. Nice and concise and makes me think this company has a good chance of being in a very positive place this coming winter.

So will need funding and flow test plan RNS in the Autumn. Looks like a great entry point to me right now even if they do need to raise funds.

Stino007. Whilst I share a sense of anxiety like everyone else HE1 still have plenty of time to get a drill done in Q3.

The issue is no coms from HE1 but too much comms from Noble. Our 'drill partnership' with Noble means it feels like we are joined at the hip. In realty, HE1 will use the drill first and it's Noble that risks running out of time for a September drill at this stage.

Clearly nothing is certain but considering that Noble still say they will drill in September and that would be after HE1 drill with the same rig we have to assume the drill will be moving to very soon. It would just be nice to get all that confirmed by HE1 now.

I'm also expecting some director buys after the rig announcement. To my mind the board can buy within the insider dealing rules once that rig is on it's way to the drill site as the risk they take from that point is the same as it is for investors.

Right now they can't buy because the outcome of the rig contract negotiations is something they can influence more directly.

Seem to remember they said they would buy shares earlier this year but there hasn't be a moment without a closed period since then.

For HE1 there is still time to get the rig contract done and the rig on it's way for a drill in Q3.

For Noble I think it really does need to be on the way by end June otherwise they risk a tricky wait for HE1 to finish it's drill and still be able to SPUD this year.

So it's good news that Noble still say they will drill in Q3. My glass half full side thinks we will get RNS on this by the end of next week and potentially any day now.

I still think we should have had better comms from HE1 but all will be forgiven once that drill is on the way.

Yeah. I think 9p for the contract. Beyond that I don't know anymore but let's see. Drilling doesnt seem to drive the same momentum as it used to in AIM. This one is quite unique though.

I do wonder what on earth Noble could be presenting tomorrow if there isn't any further news on the rig contract....

I don't know about the wire logging results but I do recall 88E being very clear that the whole thing was wrapped up and will be unwrapped for flow testing. So next meaningful news that could move the SP up will be the planning for that.

It's bound to go down for this period between news. I personally switched off and will come back later in the year when we get news. I may add more because I saw enough in the analysis of the drill to make this a promising prospect and I think the market will get back into 88E in anticipation of flow testing. It's just too far away for the market to notice yet.

I think it's any day now. Could be Monday could be 2 weeks.

There just isn't any reason for this SP to move until we get close to the flow testing following the drill a few months ago.

It will be up to HE1 to sort/announce the rig contract. We drill first. Noble Q3 drill is entirely dependent on HE1 plan being a success.

Turbot - well put. If we were not linked so strongly to noble then I probably wouldn't care but Lorna can't just ignore the fact. We are getting our comms from a competitor and it isn't tailored to our needs so Lorna needs to step up.

Craignews. HE1 can issue an RNS whilst ASX is closed. In fact they are required to do so if there is any material news that could impact the share price. Any delay results in a risk of insider dealing, no matter how tight the ship might be and to cover themselves.

In any case if ASX is closed it makes no difference because nobody can trade noble shares until it does open and they can issue the RNS at the next possible moment as per ASX rules and before trading starts.

An update is required. There is nothing about doing maintenance that should delay this - unless there was a more fundamental problem with the rig. It's not as if the rig company wouldn't need to do 'maintenance' on there own rig in any case.

We should assume that maintenance and anything else to do with making the drill functionally able to drill is a given unless we have made a very poor choice indeed.

... and no the paperwork isn't a formality and the rig will not be on the boat without the contracts and legal stuff being finalised. That messaging from noble was a red flag for me. Naive. Single point of failure only being lauded to as a trivial matter.

I want to know what HE1 believes to be true. Of course if HE1 deliver an RNS tomorrow morning telling us that the contracts are done and the rig is being prepared for shipping etc I will be thrilled but noble did comms last week and that makes HE1 look fairly negligent in terms of it's shareholder comms until they correct this and catch up.

I think we are over sensitive but rightly so.

I work a lot in risk management so what I see is a risk that if the contract isn't done and dusted it cannot leave the yard. It may be very unlikely that all 3 parties can't agree on the contract but the impact of it not getting done causes dominos to fall.

Nobles - oh this is just stuff that gets done as part of getting the rig on the boat - is a bit naive. Nothing get's done without the legal/contract/exporting papers etc. being done. I hope they had a great legal team on this since about 3 months ago - I really would prefer that all done early doors.

to be fair he1 only recently issued a new cpr.

i think what we have is 2 contrasting styles. both are valid in the right circumstances. i think noble are over doing it on the comms side now and they talk as if they have already found and bottled the helium. he1 is more cautious on the comms and they don't want to oversell it which is valid considering they used to be a bit too ****y under minchin. i think the regulator does notice.

however - i really do think an operational update is due now because the noble comms starts to bleed into he1's story and leaves us with lot of questions..... these are 2 competitors who happen to be be loosely working together with the same drill company so noble were coy on any he1 updates - as they absolutely must be - and that now feels off if we don't get the same parallel comms from he1.

honestly and i have said before - would prefer for he1 to be going alone and just keep schtum until the rig contract is in place but because of this relationship with noble i don't think they can. unless of course the contract is being signed as we speak or early next week....

Isnt a washout to do with a failure in the drill pipe? So not likely to do with anything unique to HE1's drill location.

Gogs. I think the only thing that noble are leading on is providing a running commentary. HE1 are likely leading the real world events considering it's all about getting the rig to the HE1 drill site.

That to me is the interesting bit contractually. How does noble cover that in the contract? At what point does HE1 have to release the drill? When it's done? By a specific data or after a number of days - even if it isn't finished?

So 6 weeks to transport to border

2 weeks to off boat, get rig to location, build and make it drill ready and then spud (seems optimistic to me)

2 weeks to drill if there are no issues at all - also optimistic

I don't see any room for error for noble. Considering HE1 is first we might expect more comms - at least an operational update.

Can't expect investors not to be concerned about the drill rig being formalised. I honestly do think they have this in the bag but my risk profile for HE1 is not emotional. They need to verify the fact pronto. Our SP shows us that the market isn't convinced and that should be enough incentive to get it sorted. I want HE1 comms not noble comms.

Not sure what noble have to tell anyone tomorrow if they can't confirm a rig is in place. So here's hoping we get that RNS today. If not we will be back in the 6's and the board will be full of de rampers in the morning - honestly just for the sake of not having to see that I hope they have this in line today.

Agreeing payment term is part of the contracting process. Lots of options from single payment to staged milestone payments (more likely). We should want to incentivise success in the payment structure.