Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Given the RNS It would be a good opportunity to stock up ready for the next drill or further survey information.
combined with petrophysical analysis confirming the presence of a seal and demonstrating good reservoir potential, we are encouraged that we have identified a working helium system in the Rukwa Basin.
What an absolute oppurtunity to buy, we have confirmed theres a seal, we confirmed helium presence, confirmed no hydrocarbon presence...we just couldn't log it because of collapsing clay..
remember if this is drilled as a production well, the drill pipe will be below this point at the thicker sandstone and perforated below to capture the helium so no risk of collapse. which has 15-20% porosity!
@harpmandoodle
Just one more caveat about samples. I think they will send an airtight (He notorious leaker) sample to Oxford. Why? Because that's what scientists do. Will delay discovery a few days from any estimates
What? why ? sample of what ? a core sample ? a helium sample ?, why oxford ?..
Just to clear things up.
Helium gas content % is incredibly measurable on a mass spec, they will have a Gas chromatograph on site to test the gas samples for any other gases present.
this is the purpose of wireline logs and seismic surveys....what will sending a sample to Oxford do for the results ?
a small container of helium dosent tell you anything other than what is in the container.
A wireline log combined with the seismic survey + MS&GC can tell you all you need to know about a discovery, they may need to be verified by an independent third party, but the logs will show the flow capabilities, resiviour make up, pay zones, sealing structure, temperature, pressure, LSA etc etc...this will signify discovery.
Good Luck All
Gent's
I understand the fundamentals are still here, so i'm not budging.
I am however curious of who is likely to pay for the sheared drill ?, is the drill contract paid in full per well or is it leased per day..
I guess what I'm getting at are they going to have to issue equity of shares to pay for the delay?
if anyone has a good insight please share.
Good Luck All.
Ignore my last post, didn't read the RNS properly. probably another two weeks to get back on track depending if they have another drill bit, they need to pull the 480 metres of drill string where it sheared, attach a new bit, lower it down sidetrack around the lost pipe.
they should take the opportunity to wireline the well whilst they have the string pulled.
Good Luck all!
Afraid we will be looking at another month, althought they may be quicker if they know what to expect from the formation going down, unfortunately this means landing a new conductor. I hope they have one onsite ready to go.
This happens, don't take it too negatively, it's the world of drilling.
Best way I can help you understand this is to envisage a cola bottle filled with sand, now fill it with as much cola as you can.
The sand being the formation
Cola liquid is the underground groundwater
The C02 from the cola is the N2He mix
Hope this helps.
Wireline logging is sending instruments down the well on a string, the instruments tell you the variables that will be used to determine the characteristics of the well. - worth a youtube
Good Luck All!
I agree Liquid1, we should see some logs by early, mid next week. this crew is working quick even by driller standards.
seeing 2.2% diluted in mud is pretty exciting so I can't wait to see what is below.
the crew will already have information on what pressures they are seeing as they go down so it would be great to see if that's included in the next rns.
*Robust 2.2% is not great it is almost normal as most of gas sources have it is not commercial... it should be at least 5% read a bit about helium*
Mj_analyst, clearly you have no concept of what you are talking about, we are seeing 2.2% at 70metres and nothing above it, we have another 900m to drill. helium rises. the fact we are seeing nothing above it indicated a good top seal, 2.2% is fantastic to see at this shallow of a depth, this means it can only rise the deeper you go, look at Royal Helium, even their Production wells are only at 0.5% we are 4x this at only 70m......
When you refer to Natural gas wells having a trace amount of gas, that is literally what it is...a trace, only just detectable, this is a reservoir full of it.
Good luck everyone
Fantastic to see the 2.2% at this depth.
Remember Tai wasnt showing any helium seeps at the surface, this means a great surface seal and lets be honest, helium does not travel downwards, so we are certainly going to see higher % helium results the deeper the drill goes to the potential pay zone.
Wish I had bit the bullet and topped up more on Friday.
Going off this we can predict further potential traps from other sites with a similar upper top formation.
Look’s like the drilling crew is worth their weight in liquified Helium.
Would love to see Dai or DPD’s take on the reservoir formation at this depth cross checked with other intended drill sites.
Fantastic to see the 2.2% at this depth.
Remember Tai wasnt showing any helium seeps at the surface, this means a great surface seal and lets be honest, helium does not travel downwards, so we are certainly going to see higher % helium results the deeper the drill goes to the potential pay zone.
Wish I had bit the bullet and topped up more on Friday.
Good Luck Everyone.
It would be nice if we could get an update on the drilling process from them to see where we are at and when we could expect news.
if they have the ancillary equipment in the ground and are currently drilling down to the target that would be good to know as we could expect results soon.
if they are still installing equipment in the ground for the well or waiting for cement to dry, that would be helpful too.
I see everyone talking about the chance of success of this drilling campaign based on O&G drilling, difference being, we know there is viable helium presence being seen above ground, with O&G you don't tend to see the gas bubbling up.
also we know there is a good formation for a seal and gas presence, we are not trying to differentiate oil from water either.
Good luck all
That is the mud suction hose I believe, it sucks the discharged mud through the strainer on the end, maybe gets polished and re-used.
These guys don’t mess about!
Looks like they have the hanger and conductor in place and are commencing the drilling already!
Could see mud results in a few days.
Scott22
Yes it is vastly different to subsea drilling, but the fundamentals remain the same.
If I have missed something or you have a varying opinion please do share, Anything I learn will add another string to my bow so will be much appreciated.
I could be wrong but air on the side of caution there are so many variables at play here I’m only using my experience from subsea O&G drilling.
I’m not sure what length conductor they are using, if the expected down hole pressure is minimal and surface foundation stable, they could be using a small conductor for well structure stability, again this would mean a smaller cement job - less cure time.
Secondly the formation composition variables, what is the composition of each layer on the way down.
Sandstone is a dream to drill through and goes through like butter so you can cover alot of distance very quickly.
Shale is a bit of a nightmare for the same reason it provides a good vertical seal but is very porous horizontally, you can literally blow tanks of mud down there because of the horizontal permeability not providing good hydrostatic mud pressure to flush cuttings back to the surface.
Good luck all
Seeing everyone say we’ll see stuff within a week, I’d like to think that was true but I believe it will be around July 3rd +-3days
Drilling started on Saturday 12th with the oversized bits.
This is to drill the hanger/conductor holes, they are oversized to allow the conductor to drop in and get cemented in place and get incrementally smaller till you get to the desired depth to form a stable foundation from which to drill from (each well is subjective depending on the expected reservoir pressure or identified gas pockets, this would take maybe a week to get them in and seated.
Secondly they need cementing in place, this will need around 5-7 days to cure.
Then the real drilling can start, as DPD said, it’s new ground, depending what they find as they drill down will determine the depth per day. In this time they could report on any HE presence found in the returning drill mud+cuttings but again could be up to 10 days.
Everyone thinks this is a last minute rush, take your time and do your research and learn what this investment is about, what it’s potential is, the people in charge, then take the plunge if you feel like its worth it, I have.
Good luck everyone.
So far they have achieved everything they said they were going to in the timeframes quoted.
It's quite likely we will see results from the cuttings fairly quickly.
From the tweet, everything looks to be on site ready to progress.
Fantastic news, great time to get in to this.
Good Luck All.
Are you on about drill cuttings that are flowed back to the surface using the mud as a carrier fluid, by bucket i'm guessing you mean the separation sieves, the cuttings are filtered out into a skip and the mud re-used.
I have a feeling everything is set up getting good to spud, I would like to see them post a photo but drill rigs aren't the most aesthetically pleasing things in the world, especially if they have alot of traffic, so might be waiting for a more picturesque oppurtunity.
Good Luck all!
We are all invested, i should probably type a soft apology to Watchmanwill, who appeared and spoke of Sarah Cope, I'd assumed another Hector or even an alias. I did not perhaps respond as I should have, they have since added some interesting points.
Don't worry about it, it took me by surprise at first but after hanging around on these boards for a while I certainly understand how you thought that with some of the garbage that gets spewed by the likes of Hector etc, in your defense it was an odd first post but previously I have been bitten by investing in a mineral company with great potential and proven reserves but that was terribly mismanaged.
After seeing the interviews from DM, and a bit of research I'm quite enthusiastic and see this take off, not only for the SP but the cascading effect's like seeing the the local economy of the region improve, think of the potential of the wider infrastructure that can be built from having such vast quantity of helium.