Member Info for thetriplestar

just a query - if Nobel are still to determine their farming business outcome how is choice of rig provider confirmed now with LOI? Doesnt Noble still have to consider all the options post their Mar-23 cut off date for submissions? Is it solely now just to determine for Noble the funding? > is this what it is all about? (ie) we have LOI, now Noble need to determine best source of funds for it - is that it?

it would be great to see some....a nod of confidence from the BoD would be welcomed...

A reminder for any late attendees today:
Helium One announced that the company has, alongside Noble Helium, entered into a Letter of Intent with Tunisian Drilling Contractor, SOFORI, for the provision of the Drillmec HH102 oil and gas rig for their drilling campaign at Rukwa.
This rig share initiative, following on from the co-operation agreement, will enable the company to save significant costs on mob/demobilization....

I am hopeful that the resulting "significant cost savings" they mention results in HE1 being able to squeeze in a second site.

still, its an Excellent Time to get cheap HE1 seats in the new ISA while you can....

Cheap seats are available for Helium One! Going to be a great ride ahead from May-23 till Oct-23 - this is my own opinion but thats my take on things...

The Directors have prepared a cash flow forecast for the period to June 2024 from the date of this report, together with assessment of events and circumstances in the period beyond these forecasts. The forecast indicates that the group requires additional funding over the next twelve months for working capital and settlement of existing creditors as well as to initiate the planned main construction phases at the Longonjo and Saltend sites alongside the planned Coola exploration
As at the date of this report the Group has approximately US$0.2 million of cash and US$9.1m of outstanding creditors in relation to suppliers and, accordingly, the Group needs to secure funding to settle these obligations in the immediate term. The Group is dependent upon the continuing cooperation and forbearance of those suppliers until such funding is secured..

This is a very tough position to be in. They have great potential - lots of good highlights in the report, but this tells me that for current shareholders, value is very little but potential is excellent... Im sure they will work it out... lots at stake!

yeah I agree, TAI chances are good. After all, they have done all they can to date to assess the Helium is there to be taken out on commercial terms. For me personally, I would be elated to read they have a second drill lined up following TAI regardless of results at TAI. This would then give me comfort that should TAI not be a great result at least I can immediately hope for the second drill and not die thinking its game over haha

Im bit disappointed that HE1 doing a single drill and Noble are doing 2. I wish we were doing 2...

those two trades are serious bailouts...

personally I would be happy to see HE1 come to market with a firm 5 hole plan that will cost $20m to execute all in, and they need funding, it would be oversubscribed, we would be diluted, but this would rocket...a single hole all or nothing approach is not really where I want to see this project position itself...

exactly - Noble's farm in.out selection process doesnt conclude until April I think when closing date for all considerations by end Mar-23. So HE1 not really going to sign anything up until the option to join up with Noble is considered in full for for that to happen, Noble need to conclude the process their end - so IMO we will get some news on confirmed drilling plans end of April/Early May.

Im hoping HE1 comes back and surprises us with a 2-3 drill plan of action to tango with Noble's 2 drill plan and BANG - that would be great!

I am really hoping for a Discovery RNS > this has been a very long and painful ride....

Yes it's a good point - I would actually like Noble to go first so that any failures can be factored in to TAI plans. Should Noble succeed with discovery, HE1 stock price would fly too - so its a win win really to go after Noble.

yeah you can buy - low vols at the moment I agree - with regards to news I reckon they need to wait for Noble to conclude the farming exercise with notices in support of that project to be all in by end March - then in April, one would assume they will review and select best option. At that point HE1 would review their own options and if they match up then agree to share the costs or if not, then both go separate options - any thoughts on this?

this is also another perspective - I wonder WHICH ONE will be for those HODL members:
https://www.youtube.com/watch?v=V7Nci-GVuHE

love this Dai2Belts - this is absolutely one to have going on the big screen at time of SPUD..

I was recall that Minch stated they maintained a strong cash position, still $8m in the bank - around the time he was refurbing the Predator in Kenya. That fell through as we know, and then the next thing was he confirmed MoU with EXALO for a rig and raised £10m on the back of paying for that, the bank account, Ian said at AGM, is healthy with £10m in the bank around USD 13m - my question is - what happened to that $8m Minch referred to when refurbing the Predator??

then if not priced in which I agree with you RogerJolly that once confirmed it will re-rate itself quite possibly smashing through 10p pretty quickly. So that means IMO that the current price is sitting here as there is market concern that Lorna wont secure a rig for this year soon... I call this a screaming BUY really simply on the basis that I believe Lorna will secure a rig for this year and that this hasnt be priced in at all at today prices... could easily make 30-50% of this immediately on RNS confirming a solid rig to Tai for Q3 spud...