RE: Signing2 May 2026 13:12
Gogs! Yes I am well thanks - apart from a broken ankle, so I am somewhat laid up at the moment, and suddenly find myself with time on my hands and a renewed ability to post and tweet at will.
This timing has happily coincided with the Rift IPO and events at He1. So my interest is piqued.
I do feel sorry for long suffering He1 shareholders, I was one once, but got so disenchanted I sold out prior to the discovery. As you know I was very enthusiastic at one time, and spent hours researching, and sincerely hope my enthusiasm didn't lead anyone astray.
I have followed H1 from a distance over the last couple of years, through the trauma of the funding rounds. I never anticipated the relentless cash calls, and I suspect the share price is still suffering the overhang from the last one as the shares have not reacted to Qatar as other early stage outfits have done. Hopefully the end of that is close. Shareholders have little faith in management as a result.
Hopefully today is an inflection point. $60M+ in sunk costs must count for something, and if He1 can break the habit and chuck away the begging bowl then there maybe hope for the share price.
It depends on "the deal" whatever that may be and with whom.
China is indeed a possibility, but Tanzania also courts the West.
Rift is interesting, with the only block He1 could never get and right next to Itumbula, the usual suspects in charge, and Tz interests catered for from the start.
Noble will be drilling again in the next few months, and well south of their original targets, and much closer to He1's licence area, around 70km from Tai. 2 + 2 shallow wells in a 200m square.
They and Rift targeting different types of reservoir trapped helium, as opposed to gas flowing from basement as at Itumbula 1W.
If they were successful would He1 go back to looking for a trapped reservoir?
Anyway I'd better not get too enthusiastic, but if I see any activity from above I'll give you the nod, at least until I'm mobile again.