Member Info for Skippysb01

Crusty. I think a third party funding arrangement can be negotiated pending the ML being approved.

I also think the funding for Rukwa could be a combination of approaches including third party, Tanzania Gov and placing. They could also make a placing offer to PI's this time and almost certainly if there is favourable options from the other 2. It could look very attractive.

But this is guesswork - if we believe the ML application contains a credible proposal then it is likely getting noticed by offtakers.

Lorna stated in an interview that there would be no further funding raising for RUKWA before the mining license is approved.

Whilst I can appreciate that things can change in the real world I can see no justification for raising funds ahead of that for the simple reason that legally you cannot just raise funds to develop a prospect that does not have approval from the countries regulatory body. Full stop etc etc. Not unless it is for something else entirely.

I also do not think they will announce that the mining license has been approved without immediately announcing how they intend to fund the next steps at RUKWA.

I think we get another good RNS next week about shows after perforating the first zone Zak's prediction could be exceeded. It's not impossible to hit 31p today either.

Yep. On an individual basis the consequences could be significant. I feel you. Fingers crossed any change will provide enough time to prepare.

There is also a lot of ragging going on in the press. Everyday there is a new announcement made by a journo that has nothing to do with what will happen in the budget. I know that pensioners are contacting financial advisers because the Telegraph or the Mail have told them that the budget will take the 25% tax free allowance away and they are asking if they should take it out before Tuesday - that isnt going to happen.

BUT they are going to have to raise some money from somewhere. Objectively thing are a mess and needs fixing.

I don't think they will do anything on ISA holdings. They could decrease or freeze the ISA annual allowance.

CGT has been been going up stealthily for a few years with the tax free allowance falling to just £3k this year - they will hit the rate and the allowance?

I would max out your ISA. So nothing new there.

From todays RNS:

'The Company will run cased-hole wireline prior to perforating target zones for testing, with samples of any gas recovered sent to an external laboratory for gas composition analysis.'

So this is wireline to perforate the well?

Indeed. We know that running the wire line and doing initial testing on the first perforation really won't take long to complete.

"If initial results of a perforation are positive the Company will report gas composition to the market and perform an extended well test on the interval before moving on to the next horizon. "

This is wireline testing before any EWT.

Suggests that we could get another RNS imminently. I mean any moment now in fact and certainly would think very high chance of initial samples RNS Monday.

Put 11 lbs of mud in a 7" tube. Imagine that mud being pushed out by the pressure of gas coming into the other end of the tube. There it is, a not very scientific explanation but you can visualise it. It's a lot of pressure.

Monday RNS - we found a Balrog

Monday.

The problem is the feasibility study is dependent on the funding and the funding is dependent on the mining license. Hence I think both are pending one or the other. Most likely the funding is pending the license. I can legally see how this can be true as no third party is going to disclose this without seeing the ML approved first. This creates a justification for a pending funding arrangement under NDA.

IMHO we will get the DFS at the same time as mining license approval and this will include details of third party funding.

They clearly have reasons to bot publish the DFS before that. Likely these reasons are commercial in nature.

The entire objective was to reenter the well, extend a case through the troublesome shale. They likely did not have any gas testing gear as part of that objective, having already covered the viability for more thorough testing after the well is cased.

So there was no information about shows because they didnt look for them?

What is actually happening is that he SP is moving up and down. Well WOW. Just so insightful. I mean, who knew that happens.

Just green bin.

Playboule. Well maybe you shouldn't have said it but this is volatile enough that that was an entirely likely outcome. The SP isnt real (i.e. the market its making up its valuation) until we see the test data. Then it will be onto expecting flow data..... then the plan for production. The SP should get stronger at each stage but between days it will remain volatile.

I think everyone knows that the test results will not arrive this week. That's all it needs to stall the market on an AIM share. Next week it will start to get interesting again when the results become imminent.

Think we might get an interview? I'm wondering how long they now need to get to and complete the testing etc. All very positive and with another drill to start imminent we can expect a lot of updates through the next few months and beyond.

They are just childish brats beest69. I just can't get my head around why anyone would do it.

It's quite telling that they are now going to run production casing.....

It's a much better pre discovery prospect than any other helium company I can think of at this stage. It is pre discovery until we see further test results. We have every reason to be confident at this stage.

HE1 is at different phase and frankly the tribalism on these boards is pathetic. If you have the kind of energy that makes you think it is grown up to criticise one just because you hold the other then frankly you should just F off and play with your toys. As someone invested in both (because adults can do that you know) I'm happy with the current position of both HE1 and HEX. Good look to investors.