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Sentinel has downloaded.
Tai-3 pad L to R 13-10-23, 18-10-23, 23-10-23 and earlier today, 28-10-23.
https://www.flickr.com/photos/194934344@N06/53292877989/in/datetaken/
The shape of the accommodation at the top of the pad does not change (this is a sort of "control"), but some things do seem to have been moved around the pad, to between the wellhead and closer to the accommodation. That would perhaps confirm that the area immediately adjacent to the well head is tidier, thus confirming the date of the last tweeted photo as being taken around the evening of the 26-10.
https://www.flickr.com/photos/194934344@N06/53290628198/in/dateposted-public/
There is also a small dark patch immediately to the south of the wellhead and one to the SE boundary suggesting that something has been moved to there.
This is Itumbula-1, easier to interpret!
https://www.flickr.com/photos/194934344@N06/53292878114/in/dateposted-public/
The pad has been expanded slightly to the north, and what maybe a cellar looks to be complete in the middle of the pad. Equipment can be seen in the SE and NE corners of the pad.
Also in false colour where some details are more easily distinguished.
https://www.flickr.com/photos/194934344@N06/53291623797/in/dateposted-public/
It would look from past experience as if the pad could be ready to receive equipment in around a weeks time.
Just a few random observations on the ongoing commentary this week - just because there is no news doesn't stop the posts!
Firstly He1 are *very* careful in their use of language - more careful than people give them credit for.
I know little about drilling but look at these tweets - a selection
25-9-2023 "Our #HE1 CEO Lorna Blaisse at the commencement of the spud of Tai-3. The Tai-3 well commenced drilling on 25 September 2023."
26-9-2023 "The start of a new shift at Tai-3"
26-9-2023 "Running the 20” conductor into place
29-9-23 "Lorna Blaisse, CEO of #HE1 at the Tai-3 well site “…a very active site, a lot going on with everything on schedule, as planned…” (rig operating in background)
2-10-2023 "Operations continuing at Tai-3"
3-10-2023 "Continued community engagement work in the region we operate is critical to building strong relationships with the local community."
4-10-2023 "Drilling operations ongoing at Tai-3 "
5-10-2023 "Operational update“…The Company expects it to take in the region of two weeks to source the required parts and repair the drilling rig…”
We now know that they had done 103 metres.
16-10-2023 "We are pleased to announce that drilling on the #HE1 Tai-3 well has successfully recommenced. Replacement rig component sourced and installed with drilling activities successfully restarted on Tai-3."
20-10-2023 "Drilling operations continue on the Tai-3 well"
24-10-2023 "Drilling operations continue at Tai-3 as we get close to TD"
27-10-2023 "Tai-3 continues to advance towards TD"
So the key word here is "Drilling". So the tweets of 25-9-23 and 4-10-23 mentioned drilling but none of the others did. So we know they were drilling on those dates but we can safely assume that on the other dates they were doing other things, such as running the casing and cementing, letting it dry etc, especially on those community engagement days. We know this to be true because in the 10 days to 5-10-23 they went down a total of 103 metres, so very little drilling actually took place - the word is only actually mentioned on 25-9 and 4-10.
So after fix we got 16-10 "drilling", 20-10 "drilling" 24-10 "drilling" - 27-10 - no drilling, just a bit wishy washy "continues to advance" which could really mean anything but IMHO the one thing it doesn't mean is drilling.
So they've paused, at least on 27-10, maybe a few days either side, doing what - wire lining, casing etc, I don't know - but not drilling. So if they are taking their time I think that it is because they are doing what they can to make this, their showcase well, the best that it can possibly be.
Some speculated that they had hit hard rock, I can't see it, they should know what is there from Tai-1 less than 1km away, and this
https://people.ohio.edu/oconnorp/PDFs/Roberts%20etal_2004_Red%20Sandstone%20Group.pdf
Cont/...
Part 2
cont/...
is a paper on the Red Sandstone Group, around half way to basement, describing mudstone, sandstone, claystone etc. The Karoo isn't that dissimilar. The only time I think they'd hit the hard stuff was at basement, and we don't seem to be there yet.
Anyone (newbies) wanting a more general overview (and wanting a bit of Sunday reading) of what He1 is looking for could look at this paper
https://www.lyellcollection.org/doi/10.1144/petgeo2021-029
Two of the authors are Abraham-James and Bleutt, who just happen to run Pulsar Helium of Minnesota, originally at He1 and whose directors just happen to own (have retained for themselves) the licence next door to Itumbula-1 via Kidunda/D3 helium.
And talking of Pulsar Helium they are close to spudding their first appraisal well, and over the last month or so have been tweeting on a regular basis, they seem to be getting really excited and have even been to the UK last week trying to flog a couple of buckets of the stuff
https://twitter.com/pulsarhelium/status/1717858144527761585
Question is, what are they really getting excited about?
And someone mentioned "porosity", well here is a paper by Tonny Ojok on the porosity of Ivuna-1 and Galula-1 drilled in 1987, one good, the other not so good, but that was for oil/gas not the slippery He stuff (although slippery makes it more difficult to trap, also), and for anyone wanting to know where those are located they are here
https://www.flickr.com/photos/194934344@N06/53263540160/in/datetaken/
Thus far this evening no Sentinel download, maybe tomorrow. Someone remarked that the latest twitter picture suggested a tidier pad, with equipment being moved. Sentinel from 23-10-23 also seemed to indicate that stuff was being moved around the pad, but always a little difficult to discern from the fuzzy images. Will see what today's pics reveal.
Noble seem to think that they can do both their wells by the end of November, seems a bit of a tall order, but I admire their optimism.
And as to leopards, they are unlikely to change their spots, buy I do think that He1 has changed the leopard, which is why many complain about "lack of news".
But it will come.
Just so happens I've been looking at that this evening, wasn't intending to post tonight ( haven't managed to catch up with events much this week) but as you've raised the subject...
I was trying to date the photograph - and I believe it was almost certainly taken around 7.30pm Rukwa time on 26-10-2023.
And the planet isn't Venus (IMHO) but Jupiter.
Jupiter, at present can be seen clearly from the UK in a SE direction.
In the photo from Rukwa Jupiter is low on the horizon in an ENE direction, but still around 10 degrees above the horizon. The level above the horizon when linked to twilight is important.
At 7.30pm on 26-10-2023 from Rukwa Jupiter was 10 degrees above the horizon, just after local sunset whilst it was still twilight.
Twilight is important as in the days prior, at the end of twilight Jupiter was lower on the horizon, on 25-10 9 degrees, 24-10 8 degrees, 23-10 7 degrees etc. So any earlier than 26-10, for it still to be twilight, Jupiter would have to be lower on the horizon.
So the picture, as I suspect are most of the recent pictures, is contemporaneous, and tweeted just a few hours after it was taken.
My workings are here, with the GE photo on its side with N to the left and E to the top so as to match the tweeted photo. The star map is from Rukwa.
https://www.flickr.com/photos/194934344@N06/53290628198/in/dateposted-public/
There is also a just discernible plume of smoke in the photo, so the rig was almost certainly in action when it was taken. but more on that some other time, gathering thoughts....
Haven't had chance to look through all the posts today but just a few thoughts as we await the news, whichever way it goes.
It may be that some stars are indeed aligning behind the scenes.
The website has indeed received an update. Most of the pages date from March 2023, although the Rukwa page was updated in August 2023. But the main title page was updated at 08.07 yesterday 23-10-2023, the metadata is here at line 14 -
https://www.flickr.com/photos/194934344@N06/53282933398/in/dateposted-public/
I am no computer whizz, so if there are further alterations maybe making a major update easier to load, I wouldn't be able to tell, maybe other could tell. But they don't update very often.
Combine that with the likelihood of a board meeting last Friday 20-10-2023, following on from the same on the day of the fundraise 7-9-2023, evidence from Companies House (posted previously, with reasoning, a couple of days ago) -
https://www.flickr.com/photos/194934344@N06/53277247501/in/dateposted-public/
and the deal involving He1 and PURA/Tz Ministries on the 13-10-2023 involving the 2D seismic shot over our Eyasi licence during the summer
https://www.flickr.com/photos/194934344@N06/53274349179/in/dateposted-public/
and you can see that there is suddenly a deal of apparently unrelated activity taking place, and swirling around Helium One.
They say that they are about to "Get close to TD" in the tweet this morning. I would interpret that as being maybe 75% to 90% to TD at 1100M. So perhaps 900M - 1000M or thereabouts.
That level is quite important, from this diagram
https://www.flickr.com/photos/194934344@N06/53236799014/in/dateposted-public/
The drill apparently stopped a couple of weeks ago at 103M, just prior to the penetration of the Top Lake Beds which are in this diagram at around 160M. The enclosed part of the Top Karoo starts at around 800M, topped by a possible 130M clay seal. So as of this morning we are possible right in the middle of the Karoo.
Why is that important? Because that is where the main pay zone is likely to be, the CPR from May 2023 shows that almost half of the prospective resource is in the Karoo alone , the other half spread between 5 different zones.
https://www.flickr.com/photos/194934344@N06/53213126263/in/dateposted-public/
And as I've suggested before , maybe DM didn't after all make a "mistake" drilling on the "wrong" side of the fault, maybe he intended only to go after the Karoo, a high risk strategy, but when the drill was inadequate, the "wrong side of the fault" was a convenient cover story to hide the high risk option.
Here Tai-1 is compared with Itumbula-1
https://www.flickr.com/photos/194934344@N06/53187241736/in/dateposted-public/
where at Itumbula-1 they make no pretence of going for the Lake Beds, and will simply go straight for the Karoo.
Cont/...
Cont/...
Part2
Tai-3 is however a "play safe" well seeking to intercept all the potential pay zones, but perhaps none at their most prospective points.. Itumbula-1 is more high risk, seeking solely to go for the biggie, and intercepting it at the most opportune point.
And finally,
Itumbula-1 on the right panel yesterday 23-10-23 via Sentinel - 11 days, 6 days and 1 days ago
https://www.flickr.com/photos/194934344@N06/53280347196/in/dateposted-public/
and Tai-3 similarly 11 days, 6 days and 1 days ago
False colour
https://www.flickr.com/photos/194934344@N06/53279509837/in/dateposted-public/
True colour
https://www.flickr.com/photos/194934344@N06/53280368601/in/dateposted-public/
Do I detect some movement on the pad between 6 days ago and yesterday, or is that just my imagination?
As always IMHO, DYOR and never make investment decisions based upon BB posts.
Dai, hopefully.
This filing by Helium One Global Ltd is Helium One Global Ltd as an E&W entity shadowing and representing the overseas BVI entity which is the actual company in which we all have shares. Hence there is no one with overall control because as we all know there are no pi holders with over 3% and no ii's, so far as the company is aware.
My reasoning of a board meeting is that the first two documents filed were lodged at around 11am, the remaining 5 documents lodged were lodged just before 8pm, at the end of the working day.
Can't share with you how I know that. Obviously all this filing could be done remotely, and the board meeting could be held by video link if necessary.
I'm presuming that Sarah Cope has authority to file the first two (one related to her) but had to await authority from the meeting the clear filing of the rest, and being the fastidious person she is wouldn't leave it until the next day to file, but did it later that evening, following the board meeting.
This ties in with the previous filings on 7-9-23, same scenario, board meeting on day funds raised to authorise expenditure going forwards, authority to file documents, filed later that day.
Six weeks between the two meetings would be about right.
We'll find out very soon if they actually have anything to say to us!
No way of knowing for sure, and a bit of a long shot on the available (a bit flaky) evidence but there may have been a board meeting on Friday 20-10-23 (FWIW).
Lots of documents filed at Companies House that day relating to Helium One Global Ltd, catching up on housekeeping.
The last time that happened was 7-9-23, when another raft of documents were filed, all on the same day, which was also the day of the fundraise announcement. Suspect that probably coincided with a board meeting also.
All documents signed "S Cope".
Wonder what they discussed?
https://www.flickr.com/photos/194934344@N06/53277247501/in/dateposted-public/
Dai, Sentinel is not likely to show anything that small, at least not so you can be sure it is the bags.
However...
The tweeted photo of 20-10-23 clearly shows the bags which I think you are referring to. It was tweeted at 8.11am our time which would be 10.11am Tz time. It is looking in an easterly direction, so I suspect it was taken just before dawn that day (could be the previous day, but I think not). Sunrise in Rukwa at present is around 6.30am, which would be 4.30am our time, so I suspect it was taken around 4 hours before it was published.
If it does show post TD activity (I wouldn't know) then presumably TD was hit sometime during the night of 19/20-10-23.
But the tweeted photo on 16-10-23 also shows the tops of some similar bags, in a similar position just peeping out above the tops of the horizontal drill pipes.
And the tweeted photo of 28-10-23 showing the general layout of the site also shows similar double stacked bags, but this time they are closer to the accommodation blocks, and there looks to be a long line of further bags along the site boundary next to the helipad.
So I suspect those bags or similar, have been around the site for a while.
But something did arrive at Camp Rukwa between 28-9-23 and 8-10-23, grew in size up to 13-10-23, but by 18-10-23 had disappeared.
https://www.flickr.com/photos/194934344@N06/53259646835/in/dateposted-public/
Could be a collection of white bags? maybe, or other equipment which has now been moved to site either at Tai or Itumbula, although there is no sign of it having arrived at Itumbula, here 13-10-23 and 18-10-23.
https://www.flickr.com/photos/194934344@N06/53269242752/in/dateposted-public/
And I have it on good authority, from an eagle eyed little bird, who spotted a swiftly disappearing tweet (which was actually from a very respected source), that there is an oil seep very close to our drill site at Itumbula.
What do we actually want to find?
Whatever, the die is now cast, either way.
Looks like someone scooped up a further 300K at "bargain" prices on 20-10-2023
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
20-Oct-23 11:41:03 2.80 100,000 Buy* 2.50 2.80 2,800 O
20-Oct-23 08:04:14 2.71 100,000 Buy* 2.50 2.80 2,710 O
20-Oct-23 08:04:13 2.71 100,000 Buy* 2.50 2.80 2,710 O
They wait until the share price is totally rock bottom and then have a nibble, barely moving the price in the process. I wonder what the end game is?
All quiet on the ALTE RTO, since announced on 1-8-23.Completion due Q4 23, they said.
Oh yes, we don't actually know what is in the agreement.
The AD makes clear that our licences are just for helium.
But in the case of Eyasi all of our licence area is now covered by the oil prospecting licences issued in 2018 and 2023. Maybe we have been granted some additional licence areas in return for cooperation. Maybe post Tai-3 results we could (maybe) have demanded more.
This is certainly to resolve possible conflict, and makes He1 and PURA more likely to proceed, but it makes me think that they don't really know what they are going to discover down there.
Same at Rukwa, all of ours and Nobles licence area is also covered by a presently unissued oil licence area. And Heritage were planning to drill in 2018 targeting 300Mb of oil just around 50km from Itumbula-1. The well was never drilled, although the pad and access road were prepared, and the licence appears to have expired, hence on offer again.
But no deal with Noble at Eyasi, although their licences are in a similar position. Maybe they are pushing for more, or the Tz authorities are not so worried about them, or they may discover oil in any event - I hear that's what they are rally after!
Never a dull moment.
Blubay, yes I certainly get the mutual benefit bit, but it is the timing that interests me.
There have been proposals to do 2D exploration for oil at Eyasi since at least 2013 (maybe before even) and a well Nyalanja-1A was drilled at some time just outside our licence area (haven't been able to find out any more about that) but I do find it odd that He1 reaches a deal with the government over cooperation on 13-10-23 when the 2D survey only completed on 9-10-23. The news article refers to the issue of overlapping licences being unsettled since 2017.
This post may age rather rapidly, however PURA and the Tz ministries will have had access to all the 2D survey information at Eyasi and also to all the information (probably in real time) which He1 has gathered and was gathering up to that time at Tai-3, albeit they were then paused at 103M or thereabouts.
He1 would not have had access to the recent 2D seismic at Eyasi.
Whilst the Tz government would be in the driving seat at all times, and He1 are in the country at their forbearance, in the event of a decent result at Tai-3, He1 may have been in a more powerful position post 13-10-23 than on that date, hence the possible haste of the government to conclude a deal, just 4 days after 2D seismic concluded.
And the wording hints at more than just a MOU on co-operation - "On the 13th of October 2023, the Parties agreed to cooperate and jointly develop the overlapping area."
Sounds more like a JV to me He1 gets the helium, PURA the oil/gas.
Surely worthy of an RNS?
PURA supplies the $$$, He1 the rig?
Also the article refers to "The Eyasi Wembere Block has a total area of 10,634.91 sq. km of which 954.43 sq. km overlaps between TPDC and Helium One licence" whilst He1's webpage refers to " The Eyasi Rift project area is located in north-central Tanzania. The Company holds three Prospecting Licences covering an area of approximately 807km2."
Someone is 150 sq km adrift.
But more importantly all of He1's licence area on the map is in the "overlapping" area. None of it is outside. Maybe we got something in return?
Further with D3Energy/Kidunda/Pulsar Helium next door to Itumbula-1 the results from Tai-3 and Itumbula-1 would surely fire the starting gun on D3Energy listing on the ASX, and the Kidunda deal completing. Pulsars owners I'm sure are watching all this very closely , as if they have retained some of the most favourable licences for themselves they could be about to become very rich for very little risk and capital investment. All the risk and capital liabilities were shuffled off onto He1 and its shareholders several years ago.
Well the die appears to be cast, will see what transpires Monday or thereafter.
I do think that there has been quite a different approach taken by He1, post Minchin, with regards to news flow. Saint Lorna has largely done what she has said she would do, so if we are at TD after two years of waiting, no mean achievement (as some more knowledgeable than me appear to believe from the last tweeted photo) then an RNS must be imminent. Quite what it will say though is anyone's guess, and LB never appears to give much away. Little more than the minimum anyway. Cautiously optimistic could describe my mood, but nevertheless I always expect and prepare for disappointment - though it would be something of a blow, at least emotionally. Has there been a leak? We don't know, one could argue that the drill problem and fix were known about by some and could be discerned by share price action.
But no more on that, whatever will be, will be.
News at Eyasi involving He1 was published in Tz earlier in the week - here
https://twitter.com/MahimbaliK/status/1714231737734037979
"The government of Tanzania through the Ministry of Minerals, Ministry of Energy, Mining Commission, PURA, TPDC, and Helium One have agreed to work together in overlapping license areas at the Eyasi Wembere Block."
True to form Saint Lorna remains as silent as the Sphynx.
So where are these overlapping licences, and is this potentially big news or just tittle tattle?
Well, the article helpfully provides an oil licence map of Tanzania, here -
https://www.flickr.com/photos/194934344@N06/53265829019/in/dateposted-public/
(You will note that Lake Rukwa also has two available oil licences, but that is maybe for another post and time, and maybe overtaken by future events)
and I already have an overlapping map of He1 and Noble licences at Eyasi, here -
https://www.flickr.com/photos/194934344@N06/53270524563/in/dateposted-public/
Now then it just so happens that PURA (pura.go.tz) has just completed a 2D survey over the Lake Eyasi area, which started around July 2023 and completed on 9th October 2023, here
https://www.pura.go.tz/news/2d-oil-exploration-project-in-eyasi-wembere-completed
So 2D Eyasi survey completed 9-10-23, PURA/He1 agreement 13-10-23 (things move fast in Tz when they want to) whilst we're busy burrowing at Rukwa.
So can we find whether the 2D survey overlaps our area?
Well, maybe.
It just so happens that a paper was published on 23-3-2023 on a theoretical 2D survey over, yes you've guessed it, Lake Eyasi...
https://onlinelibrary.wiley.com/doi/10.1111/1365-2478.13352
It contains a plan of the theoretical 2D survey, here -
https://www.flickr.com/photos/194934344@N06/53273883631/in/dateposted-public/
One of the four authors of the paper works for TPDC (Tanzania Petroleum Development Corporation) the other three for EPI Ltd a UK Geophysical consultancy
Cont/...
Part 2
cont/...
So I would surmise that EPI were engaged by TPDE/PURA to design a 2D survey for Lake Eyasi and that the 2D paper published in March 2023 contains the plan of the actual 2D survey carried out in July to October 2023.
Combine the plans, and provided they stuck to them then at least part of one of He1's Eyasi licences has been 2D surveyed within the last couple of months, hence last weeks agreement.
https://www.flickr.com/photos/194934344@N06/53274349179/in/dateposted-public/
Nobles areas have also been partly surveyed, but no agreement with them?
And going back to one of my fairly recent posts we carried out around 4km of 2D survey (by accident?!?) on the block directly to the east of Itumbula, which we all thought was owned by D3Energy/Kidunda, but we now know is owned by Pulsar Helium of Minnesota, whose directors are the original founders of Helium One.
Any agreement to share with them?
So more manoeuvering behind the scenes, and whoever wanted that Eyasi agreement certainly wanted to get their skates on, even though a deal on anything takes ages and ages in Tanzania.
Just for completeness latest Sentinel from Itumbula 13-10-23 (L) and 18-10-23 (R), still reckon it will be a couple of weeks before it will be complete.
https://www.flickr.com/photos/194934344@N06/53269242752/in/dateposted-public/
Meanwhile we patiently await Tai-3 results...
BVI registered company, therefore UK law does not apply.
It makes a difference.
We'll never get a TR1.
You have to rely on the company share issue page, they updated on 19-9-23 with the new amount of issued shares but didn't update the % held. It is all pi's anyway, no ii's and that is partly why the sp is so low, just a traders share atm, despite best efforts of some!
Bit of a long shot - but one Stephen Ball was Global Lead Partner at KPMG between 2009 and 2020.
Hedley Clarke was at KPMG probably around 2005- 2010ish, although no precise dates are given in his biography.
Either way between Labrum, Clarke, Ball and Hemming they have amassed around 45% of the shares by low level but persistent buying over the last couple of years, and never spiking the share price much above 3p - 4p.
Can't help feeling that there is a bit of a pressure cooker situation brewing, but if moved any slower it would stop - glacial in every sense of the word.