Member Info for skittish

Noble said on 2-5 that they didn't know who the farm in partner was, and they haven't said otherwise since.

Mum...could be a whiff of classic spin.

Although Noble increased one of their resources by 250%.

But Noble still don't know who their farm in partner is, apparently.

Mum...could be classic spin.

And Noble still don't know who their farm in partner is, apparently.

According to telegram Noble did a Market Insights presentation on 8th May, which may only have surfaced today.

They said that they were hoping to complete within the next few weeks (from 8th May) which was what we knew already.

However what some on here may only have suspected, Noble admitted on 8th May that were forced to disclose more information by the ASX, with their "clarification" announcement of 2nd May.

They appear to have tried to "manage" the news flow with their 1st May RNS, without disclosing that they didn't know who their bidder was, (they still may not) nor the financial details.

Obviously in terms of PR (and share price) this appears to have backfired on them.

It begs the question that had they known what details they would have had to disclose, including the anonymity of the preferred bidder would they have chosen the same bidder?

It may well be that they committed themselves to proceeding on 1st May with the preferred bidder, and when an unwelcome phone call arrived from the ASX, it was too late to change horses, assuming that they would have wished to do so in any event. Depends where the second place bidder lies the field, behind by a nose, or 6 furlongs.

It could be an interesting week ahead.

As to information on drilling targets you could try the Helium One website, always a good place.

Or better still their latest presentation - which amazingly is on their website.

https://www.helium-one.com/wp-content/uploads/2023/05/230509_Helium-One_121-Mining-Presentation_FINAL.pdf

And if you wanted some (really) juicy stuff (IMHO), the things they don't tell you on the website, you could try here -

Tai, 1-5-2023

https://www.flickr.com/photos/194934344@N06/52876370977/in/dateposted-public/

Tai-3 related to seismic and ERT survey

https://www.flickr.com/photos/194934344@N06/52842533412/in/dateposted-public/

The location of the "secret" Helium One operating base - a bit like Thunderbirds, but without the music - which is where our pipes and wellhead equipment are presently located

https://www.flickr.com/photos/194934344@N06/52908043728/in/dateposted-public/

Good news...we've got earthquakes!

We're on the East African Rift, where the continent is tearing itself apart, which obviously results in earthquake activity but it is also this same activity which results in the release of the helium.

That is why the area is so unique.

So no problem at all with that 2033 date - full steam head!

Definitely not Jurassic Park.

Sentinel shows it was built in May 2021, immediately prior to the Tai-1 pad.

This is He1's base at Rukwa.

Interesting that it is closer to Itumbula than Tai.

Dai, I'm not quite sure what that is.

But if it is a Rukwatitan, then it will most certainly be of the helium producing variety.

DM obviously had a cunning plan to forget the drilling (tricky) and just round up all the Rukwatitans he could find in Tz. When IS found out they had all escaped, it was curtains for DM.

To be a fly (or Rukwatitan) on the wall...

The truth will out eventually.

RK, Lake Rukwa is expanding - this shows it is more than twice the size it was in 1950 -

https://www.flickr.com/photos/194934344@N06/52156773915/in/dateposted-public/

It has no outflow, so either water flowing into it either remains or evaporates. It still appears to be getting bigger, as the Heritage Rukwa A (2018) pad is now sometimes partly submerged, and He1's original survey camp (c2016) is now about 100 metres the wrong side of the shoreline.

The reasons for it, or whether it is cyclical on a century or more type basis I'm not sure.

I don't think it will affect either Noble or He1 in the short term. He1 is well inland at Tai in any event, but they did give up their northern most licences along the shoreline, maybe a factor in that?

Incidentally, Noble in their original blurb, used the 1950 shoreline when illustrating where their licences were, making them appear mostly on land, whereas in reality they are mostly underwater!

The cost of drilling in even the shallow parts of the lake was estimated by Heritage (2014) at $85M+ per well.

A minor consideration to investors.

Best watch that JW bloke closely!

This is Rukwa Site, where our pipes and other well head gear are located at present -

https://www.flickr.com/photos/194934344@N06/52904294727/in/dateposted-public/

15km as the crow flies, from Tai-3.

Yes it is interesting.

On the one hand stuff can be stored here almost indefinitely, on the other hand it is within easy availability for Tai-3.

If you didn't know the place existed then you might assume the drill pipes and well head equipment were already at Tai, which obviously they are not.

And so far as I'm aware He1 have never acknowledged the existence of this forward base.

Will post more details when I get the chance.

There is a hint of a security lodge, and a surrounding fence, and yes it is within our licence area.

Will do more digging over the next few days.

Until the 121 He1 has only ever shown one obvious photo of this place, and even then did not acknowledge that it was a place other than at Tai.

It will be around 15km from Tai-3, but around 90km from Mbele-1. It would be useful I think for Noble to also use for heavy equipment etc, and a staging post, but they will probably also need a smaller camp closer to their actual drill site.

Another reason for us maybe to go first, but that is not necessarily all pluses.

PS - best wishes to ITV.

We all need something to buck us up atm.

A tour around Google Earth has revealed a possible "Rukwa Site" candidate.

"Rukwa Site" is what I believe to be (but never confirmed by somewhat secretive He1, only ever hinted at in a single previous photograph from 2021) the forward operating base of Helium One at Rukwa and the present possible (likely) location of the piping and advance order components.

https://www.flickr.com/photos/194934344@N06/52902443112/in/dateposted-public/

14.5km from Tai-1.

Green field site in mid 2020. Image from 20-7-21, mid Tai-1 drill.

If the pipes in the photo in the 121 presentation here

https://www.flickr.com/photos/194934344@N06/52896943825/in/dateposted-public/

are located in the same place as the black "blobs" in the site photo, then the photo would show the pipes in the foreground, trees in the background, which appear to match up with the trees from GE, and communication tower in the background.

And I can tell you that communication towers are somewhat rare in Rukwa, as is a compound such as this. In fact I'd say this compound is bordering on unique within a radius of 50km+!

All IMHO, DYOR etc, etc...

That is the whole point I'm trying to make "Tai-3" (C) and "Rukwa site" are likely to be IMHO two different places.

So the casing and other equipment isn't at Tai, but somewhere between Mbeya and Tai, but how far or close we don't know.

Find the telecom tower on GE and you then know how close.

Also "Rukwa site" appears well established, a manicured hedge, posts and fencing has been there quite a while, not recently installed.

And we know that the Tai-3 site was virgin territory only a few weeks ago.

So the casing etc isn't at Tai - (yet).

I'm surprised there hasn't been more comment on the 121 Presentation.

Not only does it contain quite a bit of new information, but there is a really intriguing photograph in there.

I'm not going to discuss Noble directly, although most on here know my views that we are joined at the hip and the reality is, whatever He1 say, is we can't move without them. But the photograph could change my opinion, maybe.

It is here -

https://www.flickr.com/photos/194934344@N06/52896943825/in/dateposted-public/

The caption underneath reads - "Casing for Tai-C moved to Rukwa site".

The implication is that it is at the Tai-3 (C) site, as is the drilling equipment shown in another photograph. But what is intriguing about this photograph is not the casing nor the trees behind it, but what is behind the trees.

What looks like a telecom tower. And in the corner of the other photograph is a glimpse of what looks like a container.

Now telecoms towers are really very rare in Tanzania, or at least in Rukwa.

Now, if this is the Tai-3 (C) site it suggests that they have a lot more equipment there than they have hitherto revealed, and they are proceeding quickly to drill.

But hold on (HOLD ON!!!) - because there could be something else.

Whilst the implication is that this is the Tai site, He1 calls this place "Rukwa site".

Now Sentinel appears to show no present activity at what I believe is the Tai-3 site, although the resolution of the satellite would not necessarily show all activity. This is Tai on 1-5-2023 -

https://www.flickr.com/photos/194934344@N06/52876370977/in/dateposted-public/

there is some disturbance to the SW of the site, but that loos more agricultural, rather than industrial.

For comparison this is Tai-1 immediately prior to spud, nice straight access road, and square drill pad -

https://www.flickr.com/photos/194934344@N06/52164228057/in/dateposted-public/

When they drilled Tai-1 it appeared that as well as the drill site, they also had a forward base, and a main equipment base at Mbeya.

In the DM days He1 were always cagey about where Tai-1 was drilling, the coordinates they gave were actually around 3km out, and the location of Tai-1 was only revealed vis the MSS map a few months later. That they also had a forward operating base was clear from a tweet on 30-6-2021 which showed a location other than the pad, with tents, vehicles and - a telecom tower and containers. The location of this base was never revealed.

IF the telecoms tower (and all the other equipment) is at Tai-C then I conclude that He1 are proceeding rapidly to drill.

IF it is at the forward base then that is where the casing and well head equipment also is, and that means it isn't at Tai at all.

Find the telecom tower on GE, and then you also know where the casing etc is. Somewhere between Mbeya and Tai. But on (yet) at Tai.

My question FWIW is if they strike do they intend to develop the assets themselves, or would they look to sell all or part.

Also if Tai strikes, where are they looking to drill next?

The problem with waiting to achieve savings is that it costs $10K per day to operate this company.

It is 5 months since the last fundraise and 3 months since the rig was identified.

The "savings" are a red herring.

Hopefully the rig won't go walkabout whilst we wait.

And the present publicity drive IMHO is all about long term fundraising rather than immediate news as even if all goes according to plan both companies will be pretty brassic by Q4.

All IMHO, DYOR etc.

Should be Sofori, of course, auto spell again..

The answer to the question is obviously "no", just as it has been every day for over a month now.

If, as you say, He1 is able and willing to sign the contract, bearing in mind that this is critical to the entire future of the company, then there must be a reason why it isn't signed.

Saving, possibly a couple of $ million at most just doesn't cut it, when the whole future of the project is at stake.

Whilst we may be willing and able to sign clearly Sanofi isn't willing, and unfortunately it takes two to complete a contract.

So we await Nobles farm out process to complete.

And for anyone interested, Sentinel shows that the Heritage Rukwa A pad and access road were built in late August/early September 2018, and appear to have been abandoned almost immediately.

This is how they appeared to Sentinel in December 2018.

https://www.flickr.com/photos/194934344@N06/52877392425/in/dateposted-public/

The pad is now part flooded by the lake.

The large complex to the top of the picture is Shanta Gold.

Thanks Keith for putting it all into context. Makes more sense now.

By special request this is Tai on 1-5-2023.

https://www.flickr.com/photos/194934344@N06/52876370977/in/dateposted-public/

No sign of activity at present. When things do get moving I'd imagine that tweets will keep us up to date, and we won't have to rely on the satellite. Previously tweets came pretty much immediately after activity had taken place.

There is a concrete marker on the ground at Tai-3 pin pointing the intended well head location, but at this resolution you can't see it.

I'd expect in any event the first sign of activity would be the building of an access road, possibly following the course of a seismic line.

Will keep an eye out though.