Member Info for Skippysb01

It looks like Legalwolf finally got his price!

Minchin used a drill contractor. Not perfect every time is it!

Yes I know I know RJ.

I do enjoy the idea that LW is sat at home all day - not invested or anything - but just finding this all so interesting that has to keep posting on here. Absolutely brilliant.

LW. Seriously. They did a presentation yesterday. Why bring up an old one. They own the rig. They can drill when they want if it's fixed and the weather is OK, and there are plenty of contractors ready to work. What's so hard about that?

Coco. Good grief. take a break. have a cocoa.

Listen to the AGM - made it quite clear the crew were looking forward to coming back. Maybe they will be glad of the work seeing as you have indicated there isnt any work normally at this time of year? Huh?

Owning the rig makes spud date decisions more agile.

If the weather was terrible or forecast to be terrible they could delay. If not, they can drill. It's different if you are hiring a drill and a crew because the contractors don't want the risk of the bad weather impacting the margin.

Sometimes it's just a bit too obvious that you are trying to stir the pot. It's a strange hobby you have....

The drills haven't failed. Everything points to a likely huge helium resource. Did you expect it to be so simple?

A failed drill would be - no helium and no indication of commercially viable finds. It's a trail not a dead end.

Based on what we now know and combined with Noble's findings the prospect has never looked better.

What isnt good is the funding. IMHO funding will come because the chances of success are increasing and the market cap is very very low. Taking a punt at 1.2p and £10m market cap is a way better punt than when folk were taking a punt when the market cap was over £100m. The resource doesnt care what the share price is.

Legalwolf. You are not normally so coy. Please tell us why you think the broker/ nomad made them do it?

It won't get to 0.5 unless they don't get this fund raise away quickly. Once the funding is in place there are literally no blockers to getting the drilling done. How often can you say that?

RJ - you are right. I had forgotten how quickly they did that. I actually missed it because it was over before I could act. I still managed to buy some at close to the offer price. Seemed very attractive at the time!

Talk of the company not being able to secure funding is nuts. At this low a market cap it is much more appealing than it was at the last placing. Invest at this level and you know you will find out if it was worth it early next year. HE1 are ready to go with the next drill. It's way more attractive now than this message board realises.

Sucks for long term holders but thems the risks.

Surely it's too late to do retail placing now. Only 6 working days now before xmas.

In any case if anyone still likes the risk and has the funds - will be able to by at more or less the placing price until spud anyway.

Last time they did a placing it was clear that forward selling was happening before they announced it via RNS. So likely same this time too. Interested to see if we get RNS of placing first thing tomorrow.

I reckon they have the placees lined up and the placees have been forward selling at considerable risk. HE1 couldn't announce it until the AGM voted on it. NOMAD got peaved off that they were telling the market they would drill in Jan when they know they haven't cleared the funding - hence they insisted they mentioned it in the RNS. Bit of a mess.

Forward selling is legal (it should not be) but it comes with a regulatory risk. In the past, companies have worked a placing in the background and the places have forward sold only for the AGM to decline to do the placing. Red faces all around.

Eurofil. They will get the drill done. Painful for diluted holders but no way they won't get the funding. It's a way better opportunity at this market cap than folks are giving credit for on this message board.

Nah. Why take on the risk? Any potential buyer will be more than happy to watch HE1 take on the exploration risk.

Is that what they said - that the nomad told them to pre announce the need for funding?

So placing will be announced today/tomorrow? They will need to get it done before xmas so with just 6 working days left I'm expecting any moment now.

Reason not done already is it needed the AGM vote. So it will be the full 30%

I couldn't listen to the AGM due to work. Did we get impression that placing is going to be announced more or less immediately?

Todays RNS 'The Company is pleased to announce that the replacement iron rough neck is now in Tanzania, having cleared customs, and is due to arrive at the Itumbula well site today, ahead of immediate installation. Once installed, the full rig up process will commence and the Itumbula well is anticipated to spud in January 2024'

So basically drilling to recommence as soon as rig up is completed. Have to assume no work over the Xmas holiday. So it's semantics to suggest anyone lied about anything. They would not want to start drilling and then take a break and then start again.

Maybe try a little less hard to find the negatives and you might be more convincing?

Obviously the rough neck shows intent to get the job done.