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Given the risks to project increased remarkably and as reflected in the stock price, there is a lot of us wondering why Minch has left it so long in the game to actually secure one of the most fundamental elements of the project - a drill programme. That aside, I was wondering if you have any thoughts on why Minch, given the higher risk he has now put the project under, didnt go for a solid farmout agreement ensuring a well funded multi drill programme across the sites in the RUKWA area, thereby reducing the risk and value to shareholders but safer and solid. Is it because he is so convinced that he has a discovery at TAI already? Would the expert geology team he has the support of also back up that plan having given their own expertise and review to the plans? Could they therefore be 99% sure they have a discovery at Tai and just need to ensure they get that on the record so the ballgame changes completely after that announcement. I reckon "you betcha!"

It would be extremely damaging to the project if indeed Minch who has had 12 months to secure a more suitable drill fails to secure the TAI drill and subsequent discovery this year. It is shocking, that it has been 12 months of time to organise a drill and here we are pretty much standing on the wire with this. I really wonder what is going on in HE1 today, where they are, what they are thinking, what their plan is - could be great! could also be sitting around saying 'we not going to make it' - no tweets, a very ambiguous RNS that didnt have any confirmed dates just referred to 'a' future drilling campaign, leaving the door open to 2023 - but then what about the licenses, the money they have and of course their reputation and lack of regard for the stock price. Basically all these concerns need to be wiped away with one RNS that confirms the project roadmap which states October drilling at TAI with a great 100T drill.

Thanks for that Skittish - totally get it - what are your thoughts on the licenses - I recall seeing at some point in the past that a massive stack of licenses need renewing around this time ie Sept/Oct.... they could be not renewed couldn't they?

@Christo >> Tier 1 Oil & Gas - these are the largest oil and gas companies by market cap, Saudi Armco, Exxon Mobil, Chevron, Shell, TotalEnergies, BP, etc - if we are getting a drill team from a tier 1 major then I am wondering if that has further background and intent to that if you get my drift...

I recall in the last RNS mention of HE1 using a drill team from a Tier 1 O&G business. I read in to that quite favourably as it could be a HINT of what is to come, ie a Tier-1 takeover should discovery be confirmed. What do you reckon?

we should also be hearing about license extensions etc as I recall quite a few are expiring around this time.. I really hope they have pulled everything like this together including a successful drill audit and mobilisation to Tai

it is alarming how high up the risk scale Minch has taken this project - and I believe unnecessarily so. He could have played it straight and got far more progress out to market and delivered too - loads of pluses for this project its great potential and all HE1 need to do is prove a discovery. The way they have gone about doing this has increased the risk factor remarkably. Nearly to the level of being inept with all this. So I hold on to hope that we just are not privy to some excellent developments behind the scene and that Minch has it all under control and we heading for an October discovery. Surely, and I mean SURELY, this guy isn't inept at running this project in a successful manner. My status is highly concerned and highly hopeful, siding on the end where I think it will be a success - but not an easy ride at all. Right down to the wire with all this.

their link - https://formity.io

Market Abuse Regulation (MAR) prohibits insider dealing, unlawful disclosure of inside information, and market manipulation. This presentation will explain the history of MAR, it’s jurisdiction in both EU and post-Brexit UK, the implications of a breach, and solutions to remain compliant.

I just recalled I was in a webinar late last year about “Market Abuse Regulation” and it was presented by a company called Forimity. When they put up a slide of their clients I noticed Helium One was there. That could explain why they are keeping a much tighter ship this year as Forimity advises clients on their responsibilities and how to ensure insider lists are kept as that (ie) no leaks. I take this as a good sign and expect that is why they have been so silent with everything and releasing news on a need to know basis and keeping the real meaty stuff super quiet. We know big blow out news like takeovers etc are for the most part a complete surprise when released to market – so if HE1 have a water tight governance around sensitive info, that be the reason why its been such a quiet year. The big players who remain invested in HE1 arent exactly dumping huge chunks – they most likely remain in and it’s the retail investors who are driving sentiment which is why we are were we are. So lets hope, drill RNS comes out audit cleared and estimated time to drill down to the depths of the RUKWA again soon and we have it – a discovery and BOOM. Quite straight forward, The risk of course is a failed drill audit and therefore a delay and consequences of that. But remember – the big investors I think remain in the picture here. There haven’t been any notices of decreased shareholdings from the big players that need to declare that kind of info – so I remain positive – but they are taking it down to the wire for this year for sure.

the pressing question is will this all happen as planned this year? Getting TIGHT... going down to the wire... no big buyers, stock price low and not moving either way - not much new money coming in here. Sign of concern or we way under the radar now.... I prefer new money coming in to give me more confidence but lets see - a positive RNS will have a rapid upside for us holding here...

well lets be frank here - they ARE taking this entire process right down to the wire. Highly disappointing given they have had so much time to organise all this and that they have released no news to support the share price over the year. My only thought is maybe they decided to keep the results from all their work secret.
If the drill is going ahead this year, then I would be expecting a RNS confirming this next week to allow for a month to mobilise the equipment and team to site, set up and do the checks before drilling commences in October. If there is no RNS next week I think I am going to have to accept my hopes are dashed, the mgmt team are not able to deliver and drill wont be happening coupled with a real risk to ongoing licensing entitlements. I think most people would agree that if no RNS week 1 or 2 of September, we are looking at a dire situation for the project. So here we are, unfortunately - being taken on a very stressful ride right down to the wire with all this. I really thought this mgmt team had what it took to make this a major hit on the ground and in the markets. So much potential, so much history to the studies over the years and the team fails to Get a drill for a 2022 confirmation of commercial discovery. I sincerely hope I am WRONG and this all becomes a No.1 hit of the year!

was just checking out their website - info doesnt reflect the updates etc , major shareholder list is out of date, accounts, newsletters, new media releases etc - why havent they kept their website in top form updated? This is basic business management expectations. Who is on the payroll with HE1 and what do they all do? Who runs the London office and admin like website maintenance (ie) keeping it updated?

My take on what is happening / my assumptions - audit will take rest of August - if successful conclusion to that then the news of this to include time line to actual drilling - so my assumptions on this are Sept will be mobilising and then drilling happening early October with a discovery declared in the second half of October expected. Once thats done, I suspect we will be eaten by a bigger shark and that be it. Successful investment. Be well over 50p maybe even £1+.
If the audit fails, then 2p stock until further notice.

MY FRIDAY THOUGHT IS 'WHERE IS MY HELIUM'!!

ok great - so next week we kick off with remaining 20% audit. No reason so far to believe it will fail - I understand it is pretty much sorted just need to ensure all new parts are checked and working as new; then we get a sign off and transportation of the drill to TAI -- wow - September is going to be wild - lets hope that this audit is successfully concluded and we have a good as new drill ready to roll (and on good terms with the cash side of things) - any ideas on the probable terms of payment for this physical drill, the parts ordered and the Tier 1 drilling team labour - and how much?

is the reason why they waiting 2 weeks before they begin the final 20% of the audit programme because they waiting for the spare parts to arrive first? This is my assumption - anyone know why they took a two week break after completing 80% of the audit?

6 months gone by and down 30% (fact) and Minch cant even say anything to lift the price a bit to give market some certainty - I wonder if the geologists team came on and said "look there is not certainty AT ALL - your best bet is TAI as you sniffed 2% there but the rest is guess work and high risk and low probabilities - the Oxford thesis is flawed in a fundamental way." Minch> “Well we cant tell the market this!!” Geologist reply>“Well go get a cheap drill with what money you got left and go back to TAI and try your luck but thats all that you can do” - im probably wide of the mark but hey - time for a cold beer.

What do you reckon their geophysicists and geologists been doing all year since they finished all the scanning around Christmas time 2021? Lets say they spent a couple months analysing the data, it cant have taken much more time than that – what have they been doing since?? Would anyone have some insight in to this area and understand what a geo-team would be doing all this time on the project since say March this year?

Yep agreed - coming down to the final 100m leg - COME ON MINCH - SPRINT to WIN!!

My concern is that if they expire then, and there is a problem with the drill and/or anything else with the project, the govt may just say 'we gave you ample opportunity to get this right, sorry, we are reissuing to another organisation"
and that is a massive concern for me. People say, if no drill this year then ok next year we do it - but thats a wild assumption. I just wish they had everything sorted well before this time - they are taking it right to the wire with all this, no plan B or C and all on Tai with no other information given, no other options at hand, its almost as if the Board/Minch themselves have put the entire project on one square and thats it. People may say, oh but they going to 2D scan other areas - with what money? who will fund an incompetent team? I remain invested as I am hoping I am totally wrong but I do have concerns and that is offset with massive Hope. Its not an easy ride really but hopefully will be worth it.