Member Info for thetriplestar

really just looking to establish whether that approach is actually feasible for a drill company to commit to; I still remain hopeful that HE1 come back to us with a 2-3 drill programme - the cost of an additional drill would be far less than the first drill...

Maybe one reason why HE1 is obviously struggling to get a drill in the ground is because a drilling company may not be comfortable it is a one shot contract - in plain English - 'why would we go set up everything which is significant work and resources only for one hole and then pack up again if you have no further cash we dont see the benefit and if you want this then you need to pay top dollar for the hassle of doing all this for one shot' .... thoughts? Anyone at a drill company knows if this could be an issue (ie) the one shot approach?

excellent Skittish - EXCELLENT stuff - thank you.
would definitely be a rough HODL ride if holding on with all in on this - would be exhilarating to crash down to game over and still holding on with everything only to rise from the ashes upon a NOBLE MOVE and bang secure a discovery and then clock out with significant gains and a few beers. a 4 years HODL Ride with everything in to come out worth well over a million quid....could be balded fully by that stage but hey - would be there right? Would be able to say to your grandkids "Ive got a story to tell ya, its called HODL"

Thats right Turbot - ONE SHOT - thats it ;-)
Big money to be made here FOR SURE.

Im not de-ramping. I am putting my thoughts forward for discussion - it's true - this is a one shot project now there is nothing more to it unless re get news there is more to it... and for sure, people can trade in and out between now and spud as they see fit. true, there is lots of opportunity to trade in now and take double triple gains - of course - thats nearly a given. I am purely talking about the bigger picture of the project which is now not so big as its a one shot situation now. there is no other strategy apart from this. If it's a duster, I believe it will be the end of HE1. Simple as that. If you dont agree thats fine too...

Lorna is a filler CEO given the only option now for the project is a ONE SHOT hit for discovery - post duster, if that happens, it will be game over for HE1 and the Tanzania govt will re tender the licenses out to a much bigger fish who can stick 40 drills in the ground and so my feeling is this is the last shot, they are now conducting exit plans and thats it - just look at the GANT chart. Money left to pay for the one final bullet in the ground and thats it. they have had years and years with this project - and very useless bunch who have achieved nothing but reconfirm prior studies - simply, unable to secure a drill but they will this year I believe this -> but if its a duster - BYE BYE and Ian will be gutted but Lorna and team will just move on and that will be it. So annoying - it could have been done so much better - like Ian said in AGM, they didnt know what they were doing. Now moved to O&G focused but at this stage its a bit late and Minch clearly had his head in the clouds when he talking about international projects etc - screwing up on drills and wishy washy news to shareholders - what shambles. I only have hope now. Cant trade out - losses too big and I still retain a genuine HOPE that this project gets a grip and that they come up with a credible plan post possible duster. Hence why I'm holding for the time being.

not just one funding round I think there has been THREE funding rounds? Goodwill disappears you know... if no discovery on this TAI drill - you reckon they just pick up the pieces and roll on? Something tells me that would be extremely challenging and we would be looking at 2p stocks on that back of a duster. would need to issue billions of shares to fund further drill work.

my interpretation of what was conveyed in yesterdays AGM is that this will be a ONE SHOT project. The gant chart stops at that fact. If discovery - great! show goes on - but if a duster - then I doubt they will be able to secure tangible funding as they say TAI is the BEST site for discovery - Im still not convinced in the long term strategy and worry that they havent positioned themselves for a multi drill campaign given the size of the resource involved here. I will hold on in the HOPE that they come back with a more longer term strategy should the Tai drill be a duster. If we really are hitting the ground with a drill with 300k in the bank and a single hole hope - I dont think I will have to balls to hold on for that - I just wish they planned for a multi hole campaign so the project has a much higher level of chance of success. This is probably why they removed Minch, promoted Lorna and thats it. One hole hope for glory. thats it...very disappointing having been a stock holder now for 2 years or so...lets see what happens over the coming months

Has the project shot its bolt? (one left?) Is this it now - no further strategy - its down now to ONE DRILL - ONE HIT - if discovery - all on, if not able to declare a discovery ALL OVER. Clearly Lorna is in the hot seat now to cover this period till that determination is finally made. No point hiring a CEO to come in when all you can say is "the only thing you need to do is find a drill, declare a discovery and if no discovery it is game over" - so just use existing staff to cover until that fateful moment for the project. A very very worrisome state to be in. The best thing for the project would have been to be funded for a few drills and would have got that discovery - but a one shot hope for glory is a BIG ASK and thats why they didnt get another CEO in and just rotated a few internals to cover till then and fired Minch because thats why we in this situation now. IMO only - everyone have your own thoughts of course... but if you can tell me how they can continue post another duster I would be happy to hear about it! Obviously a stock issue yes I get that but at 2p maybe not for me - what other options could IS pull out of the hat post a duster? Not much right?

clearer now for me that more so than ever - this is now a ONE SHOT project. No need to talk about needing more shares issued in the future, that was withdrawn - IMO from what I heard, it's just TAI, one shot, funded for that and nothing else. So it's really an ALL or NOTHING deal now.

what makes you think Lorna is CEO material though? She is a Geologist. I hope she does well - but she isnt a seasoned business person. She focuses on what is in the ground and where it is.
We dont know the circumstances of Minch's departure and Lorna could have been offered the role as Ian perhaps didnt have anyone else to plug the gap.

What I am looking for now is a rapid uptake of engagement to Shareholders from Lorna with firm plans for delivery of the objective which is to drill and discover Helium. I hope she realises now she is CEO and has new responsibilities that Minch clearly failed with - if nothing from Lorna and the same old ball drag of a project, I will become extremely concerned by today's action by HE1.

thats right... I think that is the CSE too.

IMO I reckon the facts spoke - as he says himself, the share price speaks for itself - HOW IRONIC.

She mentions in her comments 2023 so it can now be anytime this year she has a honeymoon period now in her new role so I suspect she will get away with the drilling happening in Q3 (if that is what will happen) whereas MINCH wouldn't have got away with it so had to go.
I like that recommendation from Tullow Oil on Lorna - it is indeed a good endorsement of qualities HE1 badly needs at the top - so I am pleased with this and remain hopeful for a Discovery this year. It is a fantastic opportunity for Lorna, she could really hit the big time with this now. If she lands a Discovery and becomes then a CEO of a Helium Exploration & Production company worth over £1billion then she is definitely going to have a major career and become very wealthy in the process... Full encouragement and support to Lorna!

remember Minch said the costs between the Predator and the Exalo are pretty much like for like - another very misleading comment I dont know why he bothers saying that. It is clearly not the case given the huge differences between the two set ups -- or do you reckon he is actually believing what he is being told if someone told him,, 'Minch, they both similar costs'

How much do you reckon it costs to buy this Predator?

How many times has Minch promised shareholders more regular news flow moving forward and never delivered on that - along with many many other words he has spoken or typed.
He is such a wet blanket of a CEO on such an exciting project. I feel so much excitement when I think of the resources there, Lorna's great geo-work and the local community involvement potential, and yet so much un-excitement when I think of Minch & the BoD.

More detail on the two new IVZ board members

To help the company get to an official discovery, as we mentioned above, IVZ has added two directors to its team who have been there and done it all before in the African oil and gas industry.

New non-executive chairman John Bentley and non-executive director Robin Sutherland have over ~75 years of combined experience in the African oil and gas exploration space.

Both John and Robin have been involved in taking small cap companies with oil and gas projects in Africa from explorers to developers and eventually into takeovers by much larger companies.

John was the CEO of the exploration and production of the South African oil company Engen and helped form Energy Africa before listing the company on the Johannesburg and Luxembourg stock exchanges.

As CEO, over a five year period, John led Energy Africa to increase production by >400% and helped set up operations across 12 different African countries with several major discoveries across the continent.

Eventually, Energy Africa was taken over by Tullow Oil for US$500M in 2004.

Quick Recap - what happened in the first drill?

IVZ drilled the first well in one of the few remaining unexplored basins in the world and discovered the following:

? Gas readings 135x above background levels
? Multiple (up to 13 in the sidetrack well) potential gas-bearing reservoir units.
? ~900m gross interval (225m in potential hydrocarbon bearing zones in one of the primary target areas (upper Angwa target).
? Multiple seals identified with several hundred-metre thicknesses above the deeper primary targets. This was a key risk going into drilling.
? Elevated (100%) fluorescence, indicating condensate or light oil.
? Elevated Logging While Drilling resistivity.
? Most importantly ???A working conventional hydrocarbon system declared. ???
IVZ was just a fluid sample away from announcing a maiden discovery and potentially unlocking an entirely new oil and gas basin in Africa.

With IVZ’s ground covering the entire basin, it is in a position of being the main point of contact for any larger oil and gas companies who may want exposure to the basin.

With a working conventional hydrocarbon system, IVZ has de-risked its project to the point where we hope that its next drill program can lead to an official discovery.