RE: Charles is where 94% of where the resource is.1 Dec 2024 15:43
The market have not received the HEX news well or that some people are too lazy to do their research.
There are 3 parts to the well. You can also refer to the illustration on the company website.
Amsden - upper
Charles - middle
Flathead - lower
They have drilled Amsden which makes up 6% of the well. Identified Helium, although not the initial amount that they had expected, but in conjunction with Charles / Flathead, Amsden alone can generate an extra income of $1,000,000 per well. You wouldn't get $1,000,000 per well income if there wasn't an adequate level of Helium.
They always said Charles would be the primary target by commercial standards. I would say the Helium indication in the surface Amsden level is good data to further support Helium is at the lower levels.
If people had actually listened to the recent interview, 2mins 49 seconds into the video, here are David Minchin's (HEX Geologists)exact words:
"That's where 94% of the resource is"
Referring to Charles
The link to the interview is below.
https:
//youtu.be/X-6Lv5aWKag?si=nrRykwR8q3PpOZwu
I don't know why so many people are writing this off when clearly, only Amsden has been drilled and tested, making up 6% of the well and already showing Helium.
This to me is good news.
As always, DYOR.