Member Info for skittish

No mention of delisting in the RNS.

The shares will continue to trade, for the time being, in a properly funded company.

Would ROX want to take it private, or keep it listed, seek a NASDAQ listing and then sell to a major operation in 2025/6?

There seems to be a bad link for activity at Ilemba, hopefully good link here

https://www.flickr.com/photos/194934344@N06/53714350273/in/dateposted-public/

part 1

rabbit hole time.....

we should get some clear views of nobles rukwa area later today, will post if there is anything new. this is the latest from itumbula from a couple of days ago

https://www.flickr.com/photos/194934344@n06/53714551200/in/dateposted-public/

there is some equipment on the pads but generally they remain clear. but there are mysteries at rukwa, such as who is prepping to drill at ilemba, why no detailed results from itumbula? i have an idea what may be going on, but it is only an idea, make of it what you will - another trip down the rabbit hole.... in the latest noble interview a couple of days ago they suggested that their well flow test would take place at mbelele-1 in august, there appears to be some activity at m2 but not so far at m1. they didn't mention drilling at ilemba, or new pad construction, or detail any of that in their quarterly report. odd. also odd we get little information from he1 on what they have found. why? well - i have an idea, they don't actually know what they've found, or are not certain enough to put it in writing in an rns. so information on itumbula-w is pretty sp****, the only diagram i found was for itumbula se and i've drawn iw on this as a black line, here

https://www.flickr.com/photos/194934344@n06/53351143405/in/dateposted-public/

they were not targeting a reservoir but a deep fault which runs away to the bottom left going down at least 2km+. this they seem to say is the source of the helium. long ago he1 produced this

https://www.flickr.com/photos/194934344@n06/53173631551/in/dateposted-public/

showing the faults going lower, perhaps down to 3km - the scale and other features of this image are actually way off, but it does give some questions, like how deep do these faults actually go, and do they join underground? anyway back to today and activity at ilemba, this is the most recent image showing continued activity with the slow building of roads and at least one pad, with activity continuing over the last week

https://www.flickr.com/photos/194934344@n06/53714350273/in/dateposted-public/

continued....

Part 1B

Now this is in a licence area applied for by Noble, but not yet approved or granted, they have never referred to any activity ongoing there. But activity is ongoing and in the last week more vehicles/structures seem to have appeared at the entrance to the main roadway (same dates as previous image) suggesting activity is picking up https://www.flickr.com/photos/194934344@N06/53712665497/in/dateposted-public/ so this is the area we are talking about with the main rift valley Ifipa fault in the backgound - it is drill location 1 we are interested in https://www.flickr.com/photos/194934344@N06/53693963576/in/dateposted-public/ So it looks like that well will target the main Rift Valley fault. Now I had assumed that with M1 and M2 Noble had also targeted the main fault which was what seemed to be implied here https://www.flickr.com/photos/194934344@N06/53070760686/in/dateposted-public/ But the reality is that they hadn't they just targeted a relatively minor fault system and found a shallow reservoir here https://www.flickr.com/photos/194934344@N06/53715382698/in/dateposted-public/ with this showing the faults in more detail https://www.flickr.com/photos/194934344@N06/53714260192/in/dateposted-public/ So it looks like the drill at Ilemba will be quite different to that at Mbelele. But why not just move a bit more inland at Mbelele? It could be to do with logistics, there are no bridges north of Mbelele, and the helium may be present in larger quantities closer to He1's area. So is the Ifipa fault a big deal, well potentially, yes. It is on this fault, and several others where the African continent is tearing itself apart theoretically powered by a Super Plume of molten rock rising up from the Outer Core. In 10M years this will be an ocean. So how deep does this fault go?

Continued....

Part 2

Well very deep, possibly down to 40km+ right down to the Moho, which is the boundary between the Crust and Upper Mantle, shown here https://www.flickr.com/photos/194934344@N06/53714482060/in/dateposted-public/ And this shows that this profile 3-3' is taken from exactly where these new drill locations are being created https://www.flickr.com/photos/194934344@N06/53712688212/in/dateposted-public/ This is another theorised image showing the Ifipa fault going down to around 30km https://www.flickr.com/photos/194934344@N06/53713583526/in/dateposted-public/ But this is the thing - it is all fairly theoretical, as very little deep exploration work has been done around Rukwa, it is effectively virgin territory. He1 IMHO don't know where the fault at Itumbula goes, how deep it is, whether it joins with the Ufipa fault many km down, or exactly where the helium is generated which then flows into their fault at Itumbula. But it would appear (to me) that whoever is preparing to drill at Ilemba is targeting the deepest fault that they can find, which goes all the way down to the base of the Earths crust. Work started at Ilemba around last September, long before the Itumbula result was known. We'll never know why they were diverted to Tai, which could be a conventional reservoir, but it seems to me that both Itumbula and Ilemba are targeting quite different plays, not reservoirs but helium flowing upwards, possibly from 30-40km deep, and it is for this reason that He1 have not revealed any detailed results. They simply don't know what they have got, as they've never seen the like previously. The EWT may give an idea, and help to quantify. Whether it is Noble at Ilemba, who knows, can't think it could be anyone else, but why so secretive? But I think any results from Ilemba, could have a material effect on how Itumbula is quantified. And we never did find out what was in the Noble/He1 cooperation agreement, did we?

Just quickly, and not directly related to He1, but.... Itumbula and Ilemba have been cloudy over the last week or so, thus preventing active monitoring. However there appears to be some activity a few hundred metres south of Nobles Mbelele-2 pad here with a white structure 40m-50m having been erected here

https://www.flickr.com/photos/194934344@N06/53710145053/in/dateposted-public/

Construction appears to have commenced around 18th to 23rd April 2024. Avid readers of my postings may recall I spotted several objects at Nobles Base Camp 30km or so south of Mbelele which appeared around 18-4 and had then disappeared by 23-4 here

https://www.flickr.com/photos/194934344@N06/53673704821/in/dateposted-public/

I'd wager that the object(s) now at Mbelele is/are either wholly or at least in part the same objects which we saw at the Base Camp on 18-4-24 and are related to the proposed shallow drilling and flow test appraisal of the Mbelele prospect - from their latest presentation (today) it isn't clear whether they intend to go ahead with the pilot production plant which I understood was their plan and for which they said they were fully funded.

They mention flow testing and off take but context is unclear. Their latest presentation appears a little more vague than that of February, but it looks like they are prepping to flow test at Mbelele-2, with a small pilot production plant.

Looks like all the spare stock has been hoovered up...

There is a suggestion on Hot Copper that Nobles CEO has indicated in an interview with a German interviewer that they will conduct their flow test in June/July 24. This would be similar timing (!) to He1 where according to Tz twitter sources our EWT is to be conducted commencing in July. No activity at either the M2 or IW pads as yet that I can see, although IW was obscured by cloud yesterday.

If the test are to be conducted within those timescales we should see activities commencing on the respective pads within the next few weeks.

All the sites are in a line forming a sort of dog leg, Mbele to Ilemba 40km, Ilemba to Tai 40km, Tai to Itumbula 15km, as the crow flies.

Noble seem to suggest they'll use a cheap drill as they're on going down 100 metres or so, do He1 need to drill again at Itumbula, or just open up the well?

No activity that I can see at Eyasi, but there is a wide area to cover and He1 have never indicated a site where they could drill, so it is a bit of a needle in a haystack situation.

Someone's preparing to drill at Ilemba, I can only think it is Noble despite all the contradictory evidence.

This gives an indication of locations

https://www.flickr.com/photos/194934344@N06/53694506203/in/dateposted-public/

Also worth noting that the last placing just prior to Christmas 2023 was at 0.25p. Coming up to end January 2024 the price was 0.19p. Six month earlier the price was 9p. Pays your money.

Https://twitter.com/Hakingowi/status/1786059756521599133

That link on twitter yesterday shows LB meeting Minister of Mines Anthony Mauvunde at Parliament yesterday.

This tweet shows Anthony Mavunde addressing Parliament, also yesterday.

https://twitter.com/MadiniTanzania/status/1785887204276928942

And looking at that speech he is wearing the same clothes as in the picture with LB&Co, so the photo with LB was taken either immediately before or after he gave that speech to Parliament.

Which no doubt LB was watching from the rafters.

I don't think you get invited to watch budget meetings or speeches to Parliament, unless they involve you or your company somewhere along the line in a fairly intimate manner. I'm sceptical that Tz will put any significant money into helium at Rukwa, I suspect at this stage we are likely to go it alone, but I think they will "put in" in some form for Eyasi oil and gas, my thinking is that is what is in that 2024/5 budget. what form it takes I'm not sure, unlikely to be direct cash but supply of people, logistics, resources etc.

We'll supply the rig and expertise - that is where the rig purchase comes in, pity it nearly sunk the company.

And this is what Mavunde said to Parliament in his speech -

"Under the Presidents leadership in her three years starting from the seventh month (July) we are going to implement a project that will touch two large blocks, with an area of 165,574 square kilometers which is equal to 18 percent of the entire country (and) including the 16 percent that have already been measured (licensed) adding the 18 that we are starting the month seventh in total we will grow we have measured (licensed) 37 percent and today is the year 2024 the goal is to reach 50 percent (licensed) in 2030 we have 6 more years to reach this goal"

That was a translation of what Mavunde was saying to Parliament yesterday, when LB was present.

I wonder who is to get those two large blocks?

Surely not....?

Hold onto you hats!

I can't help but feel that offers are being made at present, but remain confidential.

Quite what will break it all out into the open I'm not sure.

Maybe frustration from the offeror(s), whoever they may be, if Curren and ROX are being uncooperative.

They may break cover, if they feel that it is the only way to gain access to this established team of designers/knowledge/talent.

Not quite - languages were never my strong point, much to my regret.

And I should point out that Noble says in the Quarterly Report that they have $1.8M on deposit with Marriot in relation to the rig, from which I have deduced they still have the rig. They don't actually say "we have the rig". There is a suggestion from another source however that the Marriot rig has left the country. Sentinel is insufficiently perfect to confirm one way or the other.

No doubt the Ilemba mystery will be revealed within the next couple of months. you can't keep a major drill programme completely under wraps for very long.

But it is a pity, don't you think that neither Noble or He1 is very forthcoming with future plans.

And we have to rely on Haki Ngowi "No1 News Personality" and "Social Media Influencer" for news of when we are going back to Itumbula for the EWT.

Not to belittle him, he clearly has high level contacts.

Twitter from yesterday....

https://twitter.com/Hakingowi/status/1786059756521599133

📍Bungeni,Dodoma

Waziri wa Madini, Mhe. Anthony Mavunde akizungumza na Ofisa Mtendaji Mkuu wa Helium One, Lorna Blaisse na Mkurugenzi wa Fedha na Biashara,Graham Jacobs wakifuatilia Bunge la Bajeti ya Wizara ya mwaka 2024/2025 lililopitishwa na Bunge. Helium One ilifikisha asilimia 4.7 ya heliamu kutoka kwenye kisima chao cha Itumbula Magharibi-1 mwezi Februari kilichopatikana kusini mwa Rukwa. Kampuni hiyo itaanza mwendelezo wa shughuli za majaribio ya kisima mwezi Julai.

Which translated means that well test activities will recommence at Itumbula W in July, presumably for the EWT.

Nobles latest quarterly report confirmed that they have retained the Marriot rig - I suspect it is at Mbelele-2 - and also that the area where the drill pads appear to be being built remains a licence application. The Marriot rig IMHO would not be needed for the shallow gas cap wells only going down a couple of hundred metres.

Another explanation for the apparent drill pad preparation is that it is oil or gas related by an unknown third party. Rukwa is covered by a so far as I am aware unissued oil licence which was relinquished by Heritage around 2019.

One would have thought Noble would have to release details of all their activities in the quarterly report.

So for the time being the mystery continues.

But both He1 and Noble each have a deep well capacity rig at Rukwa and both are very reluctant to reveal what they will be doing with them in 2024.

The drill season is upon us - time to reveal all.

And I'm sure all those meetings, and LB's two trips to Tz within a month aren't just for show.

Summat is going on.

But as always they'll need cash to execute

Part 1

Just formulating a few (more) thoughts on what appear to be a number of drill pads being constructed at Ilemba, within a licence area applied for by Noble.

Parts have already been put on here, but more thoughts spring to mind.

This is the evolution of the roadways and pads between last November to date

https://www.flickr.com/photos/194934344@N06/53693795349/in/dateposted-public/

The first vehicles appeared in the area as long ago as 4-8-23, with the first parts of the roadway begun by 17-8-23. This date is interesting as the first vehicles at Mbelele-1 appeared on 8-7-23, with the pad outline completed by 27-8-23, with pad complete by 11-9-23.

For Mbelele-2 the first construction began around 7-8-23 with the pad largely completed by 21-10-23.

So initial construction at Ilamba has largely taken place at the same time, but more slowly, as M1 and M2. Once those pads were complete construction of the roadways appeared to speed up until interrupted by rains. It is not clear when construction recommenced but when clouds cleared it was clear that the I-1 pad was well underway, as shown here on 30-4-24

https://www.flickr.com/photos/194934344@N06/53692564392/in/dateposted-public/

Judging by those earthworks the pad could be in a position to spud in around 6-8 weeks time ie the latter half of June 24. Questions abound - why so secret given the razzmatazz over M1 and M2? The TCMP shows the licences applied for but not yet granted? Why 4 potential pads, 1 of with is within the He1 licence area, if it is indeed to be a pad? Where has the equipment which was at Itumbula gone to? Is it now here? Why are these drilling plans so secret? Why the go slow on the build?

This shows the drill location in relation to the main fault suggesting that these could be deep wells, much deeper than M1 and M2.

https://www.flickr.com/photos/194934344@N06/53693963576/in/dateposted-public/

Part 2

And these are the potential drill locations in relation to Nobles declared plays and declared 2D and 3D seismic.

https://www.flickr.com/photos/194934344@N06/53693388527/in/dateposted-public/

According to the publicity they haven't done any seismic at all, but of course they must have, they simply haven't said so. Noble aren't usually so publicity shy. They say they are funded for their pilot plant and shallow wells at Mbelele, so who paid (is paying) for all the earthworks and movements at Ilamba? They are fundraising and possibly struggling at the moment, so you'd think they'd want to come clean here - oooh, look what were doing - but no, just silence. Very curious. and this is a map with a He1 AGG Gravity Survey added

https://www.flickr.com/photos/194934344@N06/53693388747/in/dateposted-public/

Surprise! All the new drill site appear to be on a gravity high, just as Tai and Itumbula. Furthermore these drill sites are on the only large flat bit of land for which Noble have applied for a licence. All their other licences are on skinny bits of lake shore. These well sites are also much further from the main rift fault, suggesting much deeper drills than at M1 and M2. And they are much closer to He1's drill sites, 45km from Mbelele, but only 35km from Tai.

Indeed drill location 3 and the roadway leading to drill location 4 are actually within He1's licence area.

If the southern volcanoes are the source of the helium (I think the Itumbula result may throw that into some doubt) then Noble stand a chance of a better result here than at Mbelele. And they can't go further south as those licences are owned by He1, Kidunda and the Mining Commission who recently seized 5 of the biggest licences in this part of the rift from underperforming Helium Rift Valley.

Just to finish off another view of the licences and overall map

https://www.flickr.com/photos/194934344@N06/53694506203/in/dateposted-public/

Hope it all comes out okay!

TS, no exactly the opposite. They want the He1's and Nobles with a proven track record of raising capital. And He1 have their own rig!!!

What they don't want is the loafers and shirkers who sit on licence applications for a decade and do nothing. That is why the Mining Commission has recently taken over a thousand mining licences including 50+ helium licences, and ejected their sitting but lazy tenants.

See my previous posts for what is really going on, and the Eyasi gas, oil thingy.

If it exists or comes into existence, then the whole of this project would be a jv, imho. But more evidence required. Both very circumspect at present on future drilling plans for the 2024 season, which is now upon us.

Link showing location of the four potential pads, 1 looks pretty certain 2, 3 and 4 just potential pads at present https://www.flickr.com/photos/194934344@N06/53689025882/in/dateposted-public/

Very quickly Ilemba, within Nobles licence area today compared with 12 days ago

https://www.flickr.com/photos/194934344@N06/53690348070/in/dateposted-public/

Compare appearance of the pad with Mbelele-1 as it was being built

https://www.flickr.com/photos/194934344@N06/53158617447/in/dateposted-public/

Also this is an overall view of the area with a number of possible pads under construction, although Pad 1 is the only one which looks well on the way to completion. What is more Pad 3 if it is indeed to exist at all actually falls within He1's licence area, the blue line marks the boundary between He1's and noble's licences, here

https://www.flickr.com/photos/194934344@N06/53687908710/in/dateposted-public/

And latest images do indeed confirm much equipment appears to have left Itumbula

https://www.flickr.com/photos/194934344@N06/53690122833/in/dateposted-public/

May expand on this over the weekend.

All fairly theoretical at this stage, much work to be done on firming it up.