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Good news.
https://t.co/eDju5uNqPU
Noble have found similar in the Basement at Mbelele-2, which confirms what HE-1 has found. Looking good for the Basement at Tai-3 when HE-1 return to deepen the well.
Remember most helium comes from a by-product of oil and gas wells at 0.04-0.35% helium....very low.
We are getting shows at 0.8% without even getting samples from the sweet spot is a big achievement.
They were "hoping for" Helium in the 0.4% of higher levels for commerciality....here we see 0.8% and no even in the sweet spot in the basement. Very exciting times.
I think they have cracked it.......onwards we go to the next drill and possibly even better results, then back to this well to drill the basement.
Here we have it then.......very good news.......well suspended now for future deppening into the basement. Strong Helium shows and samples taken.
https://www.londonstockexchange.com/news-article/HE1/tai-3-well-results/16215572
Helium One Global (AIM: HE1), the primary helium explorer in Tanzania, is pleased to announce that the Company has successfully completed wireline logging and downhole sampling at the Tai-3 well.
Highlights:
· Downhole fluid samples successfully recovered from reservoir intervals in the Upper and Lower Karoo Group confirm the presence of helium
· Complete wireline logs and initial petrophysical analyses demonstrate good quality reservoir sands in the Upper and Lower Karoo Group, interbedded with well developed shale prone seals; data recovered demonstrates a stratigraphic section, previously undrilled in the Rukwa Rift Basin
· Onsite pressure-volume-temperature analysis of downhole fluid samples have yielded helium concentrations up to 8,320 parts per million ("ppm") helium, which measure significantly above normal background levels of approximately 5ppm
· No Basement downhole samples were obtained as the wireline tools could not be run past 1,430m measured depth ("MD") due to washouts and ledges
· Tai-3 well has now been suspended for future operations that will involve drilling deeper into the Basement target, where an increase in helium shows were encountered whilst drilling
· Information and data obtained from the Tai-3 well results have provided a much greater understanding of the active working helium system in the region and a new well location on the Itumbula prospect has been identified as a result of these findings
· On completion of rigging down at Tai-3, the Company's drilling rig will be moved to the new Itumbula location where the iron rough neck and hydraulics will be repaired
· Upon completion of the repair and maintenance work, the Company plans to continue the drilling campaign
Lorna Blaisse, Chief Executive Officer, commented:
"These results are very encouraging indeed and we are delighted to have completed the Tai-3 well safely and to have been able to acquire a full set of wireline logs and downhole samples. This is an excellent result for the Company and a huge testament to the team's performance, especially given the challenges we have faced along the way.
Whilst disappointing that we were unable to run the wireline tools further into the Basement target at this time, given the increased helium shows we saw at this depth, we are confident that by casing the well and suspending Tai-3, we will be able to return at a later date and target the fractured Basement helium play which we believe to have significant potential.
We have continued to demonstrate that there is an established working helium system in the Rukwa Basin and the Tai-3 well has given us a fundamental set of geological learnings, which we now intend to apply to the Itumbula prospect.
Once Tai-3 has been rigged down we will move the rig to Itumbula where our primary focus will be on repairing the Predator 220 rig and, armed with valuable information and data gained from Tai 3, moving onto our second well of this drilling campaign on Itumbula."
15th Nov 2023 TXP Investor presentation video
https://www.investormeetcompany.com/investor/meeting/investor-presentation-485
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Good news today.........onwards to wireline logging now.
New interview today with the CEO on the link below :
Very good news from Noble today.
https://hotcopper.com.au/threads/ann-mbelele-1-preliminary-results-point-toward-helium-discovery.7682563/
Their targets were all lake Bed...which is also the upper target for Helium One. However Helium One have additional targets in the Karoo and the Basement.
Going to be an exciting week ahead on HE1.
From seisprocessor on the other thread.
Apart from the mechanical breakdown delay, I’m delighted with the news that helium shows are present in both the Lake Bed and Karoo formations, as this de-risks the first two primary targets which are a lot different on the other side of the main fault.
Looking at the seismic data, the well intersects the Lake Bed formation at exactly the right place up-dip at the top of a sequence that looks a lot more prospective and better developed than on the other side of the fault (where the helium shows disastrously pinched out on a localized deposit on the previous Tai-2 attempt).
HE1 were never going to drill below TD into a 4 billion-year-old basement consisting of hard crystalline metamorphic gneiss, but discovering that their third target, the overlying fractured basement sediments come in 400m deeper than prognosis is actually a good thing for their third target zone, as it means a thicker zone with bits of disseminated gneiss in it, which will help to liberate more helium from the radioactive decay of the basement rock as well as having a higher pressure regime.
Far better that than coming in 400m shallower than expected!
With some limited well control provided by Tai-1, I was expecting a discrepancy of 100-150m in the depths at TD, but 400m just shows the risk in drilling based on 2D data vs 3D. The 2D data is more prone to error due to limited spatial sampling and consequently a greater number of assumptions made. The dipping strata and steep angle of the faults at the Karoo make imaging and migrating the data into the right place more difficult because while the velocity profile of the geology can be calculated fairly well going vertically, it varies a lot in the horizontal direction. There are ever more sophisticated Kirchoff and PSTM migration algorithms developed for handling these variations, but still a world of a difference between 3D and 2D derived velocities.
The Karoo formation is considerably more developed and thicker on the other side of the fault. With porosities already known to be around 20%, there’s good potential for flowing helium to the surface!
New interview.....
Helium One Global hoping to have Tai-3 work finished up "some time next week"
30 Oct 2023 #ProactiveInvestors #HE1 #invest
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) CEO Lorna Blaisse speaks to Thomas Warner after the AIM-listed Tanzanian explorer released a fresh update on its operations at the Tai-3 well.
Blaisse gives an overview of the drilling work undertaken so far, highlighting the helium shows encountered. She says work has stopped temporarily at the site while a technical glitch is fixed and also acknowledges that the Basement reservoir target has "come in deep to prognosis", but says that neither events are unusual. She goes on to say that Basement remains the target and that the company will resume drilling "within the next few days."
Blaisse goes on to reveal next steps at the site, noting the importance of collecting wireline logs to back up the promising helium shows seen so far.
She concludes by saying that "if all goes to plan, I anticipate us being finished up at the Tai-3 well some time next week."
Comments from the USA presentation
From a post by DB I was sent - comments from the US presentation done recently.
Worth rereading: Equityhawk:
Different from what we saw in London, very similar information, just presented differently.
Key takeaways from presentation:
Cipero sign-off coming in next 30 days, maybe next two to three weeks.
Swap will be done soon but no definitive timeline.
He said there is some debate on whether to spud Casc C before or after Christmas.
He said unlike when he was in the field, drill crews expect holidays off now.
The plan is 6 months from casc C spud to brining it online. Preparations are underway for flow line between A and C.
First Cretaceous drill probably end of 2024 maybe early ‘25 and they want to drill the three targets one after another.
Other information gleaned:
-Separator unit needed to upgrade the plant to 200 cost $600k. It cost $3m two years ago (Covid and steel prices).
They are going to wait on the liquids pipeline for now.
There may be ways to increase trucking efficiency in the future and they are pretty confident they can truck 2500bpd.
It seems that there is no connection between going to 90mmcfpd and the price negotiations. It sounds like those are more connected to the fact that the current gas price is only for Ortoire and the leverage may be the probable gas from Rio… which we don’t own yet.
Our relationship with the ministry is great. Stuart reaches out to them once a week or so to check if there’s anything they can do to help. They want all the gas we can give them.
They are going to give very conservative guidance from this point forward. Part of the problem with timelines in the past was they made projections based on experience in North America and didn’t anticipate how slow things move in TT. The strategy is to under promise and over deliver. (No Gantt chart, sorry posh).
They do have some takeover and acquisition targets, but nothing in stone and I couldn’t get any more info.
James confirmed that without the upgrades, he thinks he can push the plant to 100-110mmcfpd.
They aren’t building the pipeline before they take the plant to 200mmcfpd. Partly, C is on the up dip side so they don’t know if they will get as much liquid. When it makes sense to build a pipeline, they will build a pipeline.
So, one of the biggest takeaways I got was that he claimed in the presentation that it would be about 6 months from spur of casc C to bring gas to market. I thought he probably mis-spoke so I asked him to confirm that after the presentation. And he said “6 months”. I was very encouraged by that, especially since he made a big deal about making sure they are carful with their timelines going forward.
The prep work they are doing now is getting ready to clear a path for a road between A and C from which to build the pipeline.
From previous information, the only equipment at C will be some monitoring and safety equipment. All the major upgrades will be on A. A and C are only a mile away. So the pipeline will be easy along a road they are constructing.
So my expectation is :
1/ Monday 23rd October - expect TD announcement and mud logging news.
2/ Monday 30th October - expect Wireline logging news and P&A or move to downhole sampling (if P&A then jump to line 5 - if not proceed to Line 3)
3/ Monday 6th November - downhole sampling news if we go to this stage.
4/ Then plug and suspend well as future producer in the success case.
5/ Move on to spud the 2nd well at Itumbula-C
2 week delay. Rig issue. New part needed.
Good post by AE. AE regularly has discussions with TXP.
ActiveEurope New: Yesterday, 5:05 AM
Analyst
Cascadura
Year end 2022 2P reserves were 75.1 MMboe and an NPV10 of U$993.7m pretax or U$450.6m post tax. It’s our understanding about 70% of that was attributable to Cascadura (52.1 MMboe) based on the area up to a fault line close to pad C. The two upcoming wells have the potential to move reserve numbers up substantially. Roughly speaking the first well (drilling from Cas C pad back towards current production 2 wells), if successful, would move 3P reserves to 2P reserves of about 35m MMboe (out of the 3P number 120.6 MMboe reported in reserve number), that’s a very significant value uplift. The next well after has the potential to bring new 2P reserves (not in 3P at all) focused on the area outside the fault line but up to the licence boundary (it drills from C pad towards licence boundary), and again if successful it could add 30-35 MMboe to 2P reserves. Lastly, if they receive final government sign off on the Rio Clara block they could drill a well from Cas C pad towards and across the current licence boundary and again if successful this could add a further circa 35m Mboe to 2P, all are approximate type numbers. Hence all 3 upcoming wells have the potential to add very significant 2P reserves and valuations, back of the envelope if all 3 were successful this could add circa 90 MMboe (80% share so net 72 MMboe) more to the existing Cas 2P of 52 MMboe (their 80% net share already). The share price/valuation is currently ‘disappointed’ with Royston result, delays across the board and little upcoming exploration drilling newsflow but is completely missing how material the Cascadura drilling could be.
All 2 or potentially 3 Cascadura wells are also primed for quick production (6months tie in Cas-C to Cas-A and separators etc) into existing facilities spare capacity, the current 2 producing wells are combined at 60mmcfd gross and may potentially increase to 90mmcfd gross in the future assuming there are no geological issues. The next wells are budgeted at 20 mmcfd gross each but are actually drilling into what management interpret as a slightly more gassy (less liquids) up-dip and potentially better area of relevant reservoirs for gas. They are budgeting minimal liquids although likely there will be some. Current 60mmcf and associated liquids provides U$4m a month, a move to 90 subject to successful geology at existing 2 wells moves this to U$6m a month and if all 3 new wells are on budget that’s 60mmcf/d and another U$4m a month: in total that’s U$10m a month possible at some point in late 2024/early 2025. Annualised that’s U$120m cashflow from Cascadura possible after the next 3 wells if drilled successfully. Obviously there can be delays and poor drilling results but this should be a relatively low risk development work and there are reasons it could surprise to the upside too. Its also worth noting the next well will be deepened to a new sheet as an exploration addition, we’d value this at zero but it’s worth mentioning.
Tax and Investment
Petroleum Operators ‘…entitled to capital allowances as follows….tangible and intangible exploration and development expenditure is computed on a straight line basis over 5 years (20% per annum)’ This means that if Touchstone spends U$100 on drilling and other related costs in one year, each subsequent year U$20 can be offset against taxable income so that over 5 years all the capex is effectively offset with taxable income. This is designed to encourage energy companies to keep investing in their business. Another way of looking at this is that if Touchstone invests U$100 in drilling its actually worth U$155 (100*55% (PPT+UEI rate)) over the 5 years to them. This is important to think about in the above Cascadura NPV reserve valuations pretax and post tax. The reality is the real value over time is somewhere in between these two NPV’s as there are some tax offsets from the full tax level modelled in the after tax valuation. Management are often questioned by investors ‘when are you going to pay a dividend or even do a share buyback?’. It’s worth pointing out both of these activities are ‘relatively expensive’ things to do when set against the tax incentives to keep reinvesting in the business. If touchstone reinvests nearly all its cashflow in growing the production of the company over several years it all gets ‘paid back’ in a lower tax rate. It’s for this reason investors and management ought to be reinvesting in growth rather than focusing on cash payback to investors. The reality is Touchstone are now self financing and have a plethora of new investment opportunities over the coming years, investors should be asking management to embrace growth capex for most of its cashflow. It’s the payback period on capex that’s actually the most important variable, ie how fast would capex on Cascadura payback. For instance 3 wells 80% share capex is 3*U$5.6m plus 80% of 5m for separators and pipes etc totals circa U$20.8m, if this adds 20mmcf/d each well totalling 60mmcf/d and U$ 4m a month then it takes somewhere around 5-6months to payback which is excellent use of cashflow (even less if including tax credit value).
Exploration
Cascadura has clearly been a huge success and as discussed above most likely still has more to give. In the recent presentation management put slides on several other future prospects, many are near drill ready but also some fall within the hoped for new licenses and asset swap deals that could be approved anytime between tomorrow and 12 months time depending on the Trinidad authorities timelines. Recently BP/Shell offshore licence was government approved and Touchstone management are hoping onshore licenses are next in line but there can be little predicting when this might be as the authorities appear to want to tie up all the licenses together meaning only once the last agreement is set up can they all be announced together, not doing companies or licenses individually. Coho 2 should be drilled 1H 2024 with a cheaper second rig and following that Coho 3 which includes the Gibba gas prospect at P50 circa 40-45BCF, these wells should fill the Shell spare capacity of 20mmcf/d. To the West of Cascadura they have named Char, Pike, Sturgeon and Muskallunga which all could be reached from one central pad (not yet permitted) and have promising on trend seismic with Cascadura. Equally Steelhead already has a drilling license already. Kokanee is up-dip from Chinook and needs a permit but is from an old drill pad so an easier permit exercise.
Valuation
I have always felt that Cascadura easily covers the valuation of the whole company up to somewhere around 120-150p per share (233.46m shares*120p or 150p=£280m to £350m). This does though include an implicit view that the next 2 wells will both be successful in proving up a much larger reserve base, the third not counted until licence agreement and drilling. The NPV10 post tax current value of U$450.6m could be at least twice that if all 3 wells come on prognosis. Most share prices trade at a wide discount to 2P valuations currently but you can easily argue for 120-150p. Alternatively you might pay 2-4*cashflow (single asset in high tax jurisdiction): here you have U$48m PA as current Cascadura (60mmcfd plus liquids) run rate and possibly U$120m annual run rate if ramped up by 3Q 2024 to 150mmcf/d. This gives valuations of U$96m to U$192m at low end production to U$ 240m to U$480m at the high end in about 12months time. Maybe Coho is U$20m, legacy assets U$20m but also current net debt offsets a lot of this. Lastly if the 200mmcf facility is filled up its 160mmcf/d net to them so about U$130m. The answer is valuation ranges can be very widely drawn, typically resource based valuations tend to be higher than just using trading multiples currently as the whole sector trading multiples are quite depressed currently. Further upside can clearly come from the continuous drilling campaign and we would hope that exploration wells from 3Q2024 and beyond might be possible.
Schedule is :
14 days from spud to TD (Total Depth)
7 days for running wireline from TD being reached.
Success case of good wireline
7 days to downhole sampling of gas under reservoir conditions.
Total time 28 days is the plan in the success case. If Wireline shows nothing then drill will end after 21 days.
Mud Logging will be going on throughout the initial drilling 14 days, looking for Helium in the mud logs. Helium shows in the mud logs will be extremely exciting.
Spud was on 25th September.
TD is planned to be around 9th to 10th October
Three major formations to be drilled through, Lake Bed is the first and early this week - then the Karoo and finally the Basement.
Lake Bed is the primary target for Noble's drill, and also for HE1 as there were Helium shows last time outside the trap area.
Good luck all !!!
PS - The placing 9 months ago was at 5p.
Therefore if you see dumping below 5p then you can guess bad news is coming.
Currently we are seeing some of those who purchased at 5p in the Dec 2022 placing reducing risk and selling some which is why, imo, the share price is sat at 5p levels.
So to watch for :
Dumping (big selling) below 5p will suggest bad news coming.
Trading above 5p and above 6p suggest simply derisking by Dec 2022 placing buyers and also the recent placing buyers at 6p. No news leaks
Strong buying spike up and over 7p (will suggest that maybe some good news comnig).
Noble Helium now rigging up to commence their well in the Rukwa basin Tanzania same as HE1.
Noble Helium @Noble_Helium
·
2h
Noble Helium reports that rig-up of Marriott Rig #16 at the Mbelele-1 site is approaching the final stages at the Company’s North Rukwa Helium Project in Tanzania.
https://t.co/vaoEVqVIdg
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Interview on LSE :
Touchstone Exploration put foot on the gas in Trinidad as they target 30,000 BOE and the FTSE 250
After being hounded and bashed and told repeatedly to under promise and over deliver.....the TXP team are being very conservative - and now they are being berated for "why are you not doing this and that"....why is it only this much going forward.........how come next Casca wells are only 20 each.....why why why....
Cant win can they.......but be assured, they are now being super conservative and understating the potential flows and rates and forecasts.
TXP and Heritage are trying to increase the price currently, they want around 3$ instead of the current 2.5$. This is most likely why they are not forecasting until mid December as they want to know IF they can assume 3$ in 2024 or stick with the 2.5$
As TXP goes forward you can now expect lots of conservative under promise flow targets and then all being well lots of over delivery.
Thats the new normal now, people wanted it, screamed for it and now your getting it.
This is the PB interview with Malcy, link below :
Yesterdays TXP presentation video is on the link below :
Update from Malcy, he was in on the earlier presentation today and says its excellent :
( Retail presentation later today 15:30 UK summer time - https://www.investormeetcompany.com/touchstone-exploration-inc/register-investor )
https://www.malcysblog.com/2023/09/oil-price-wentworth-dec-touchstone/
.......Investors should make every effort to listen to the 3.30 presentation today as the situation at Touchstone has been totally transformed by the bringing on of Cascadura field that changes the company completely. I was on the earlier call and it was excellent. I interview CEO Paul Baay tomorrow.......
Back in the land of internet today, so I can partake of the TXP meeting in the middle of the night.
For anyone not aware, its live on https://www.investormeetcompany.com
15:30 UK summer time today - Free to register and attend,.
The new presentation is good, pretty much as expected.........nice to see the 1000 foot updip location at Chinook is now a new drill prospect - which is as we all said at the time.......and we are looking for near 900 feet of oil column there, maybe over 500 feet of net pay....thats a big drill.
New presentation link is :
https://www.touchstoneexploration.com/wp-content/uploads/2023/09/TXP-Corporate-Presentation-Sept-2023.pdf
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Reddit link for Helium One is below :
https://www.reddit.com/r/HeliumOne/
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Interview with the CEO :
Broker comments after the fund raise.
Liberum:
Helium One (BUY, TP 17p) – Successful placing to fund second well this year
HE1 has successfully raised gross proceeds of £6.8m (c.US$8.5m), through a placing and retail offering at 6.7p/share (c.10% discount to last close). The funds will enable the company to drill a second well this year, and at a significant saving without having to demobilise crew, personnel and equipment following the Tai-C well. This is an opportunity made available to HE1 following the recent rig purchase which otherwise would not have been a financially viable option.
Our take: Another positive development for HE1 underlining ongoing shareholder support ahead of its high impact drilling campaign later this month. The funds raised now enable the company to drill a further prospect immediately after the planned well at Tai-C. If successful, this well could transform HE1’s valuation given the wider implications of the helium market. Our model forecast that each 350,000 mcf/year train could generate c.US$55m in free cash flow per annum, assuming stable helium prices of c.US$300/mcf. With an export price of US$400/mcf, we calculate that each production train could generate US$75m. At the current share price, this represents >130% free cash flow yield on each 350,000Mcf/yr module. We reiterate our BUY rating reducing our TP slightly to 18p/share to take account of the equity dilution.
Sam Wahab, Sam.Wahab@liberum.com, +44 (0)20 3100 2095
SP Angel:
Helium One (HE1 LN) 6.35p, Market Cap £53m: Adds second well to programme
Helium has raised £6.75m in gross proceeds @ 6p/sh (~10% discount) to fund a second Rukwa Basin exploration well on the Itumbula prospect, to be drilled after drilling on the Tai-C well has completed.
The Company commented that it can move quickly onto a second well ahead of the wet season, which should enable cost savings by utilising the personnel and equipment used on the Tai-C well.
Helium’s rig ownership provides a platform to enable it to move quickly into an appraisal phase upon success at Tai-C, as well as allowing accelerated exploration on the Rukwa, Eyasi and Balangida projects.
The positive market response to the raise implies that catalyst-driven investors are now prepared to get involved in the upcoming test of the helium potential within the Rukwa Rift Basin. Helium One considers the drill-ready Tai structure to be the best-defined prospect within the Company’s portfolio and is fully funded for drilling to commence this month via a £10m fund raise last December, with the new funds raised providing the opportunity for a further prospect to be tested ahead of the fast-approaching rainy season in November that will likely bog down operations. With a new management team in place, the Company is now looking to make good on a commitment to shareholders to test the helium potential within the Rukwa Rift Basin onshore south-west Tanzania. However, the science around helium exploration is still in its infancy and we look towards the drilling results from Helium One and Noble Helium (NHE AU) in 4H23 to shed further light on the region’s potential helium prospectivity and commerciality
Got asked by PM why the existing Casca wells will be bought on slowly, as it seems the Discord group have no clue and going down rabbit holes.
Cascadura ST1 the well bore was damaged by the drilling mud, same in Deep-1. Both well bores need time on production to hopefully clean up.
ST-1 and Deep-1 both have 55 million per day seperators on them.
Both wells will be bought on slowely due to them wanting to clean the well bores up.
ST-1 is capable - they believe of up 55 million per day when fully cleaned up.
Deep-1 is capable - they believe of up 55 million per day when fully cleaned up.
This is why only 2 weels at C - Cascadura C1 and C2 are planned - as they hope these 4 wells when at full flow can max out the 200 million per day capacity (absolute best case is 55+55+55+55 = 220 million per day A+C.....but dont bet anything on it)
HOWEVER.......they will not go full open flow to start with and will gradually be ramped up.
Its very likely that after an initial low flowing rate, they will be ramped up in steps to 45 million per day........so 90 million is the Casc-A target and then another 90 million the Casc-C target - with upside to go 100 million each site.
The initial "online" RNS will likely be low flow, maybe 20 to 25 million per day, and then its get ramped up from there over time as they monitor pressure/flow and how the well bores are cleaning up.
Rigging up.
Rigging up and mobilising of equipment to Tai-C well site progressing well…#HE1 #Helium #Mining pic.twitter.com/XyTAZz8LpZ
— Helium One (@Heliumone1) August 22, 2023
Cascadura-A first gas is now in the system and the system is in the process of final commissioining and being ramped up to initial "production" volumes.
The wells will be gradually ramped up over time to their expected 60 per day (30 each).
I do not know what TXP will class as "initial production" it might be 20 or 30 per day (10 to 15 from each).......but when they reach this initial low target they will RNS about "initial production volumes online" it seems. No news before then.
Do not expect any news until they reach their initial low target. Then over time operational updates will state how much they have then reached. The well bores need to clean up slowely at first to get the best production rates and so the taps will slowely be opened up over months...not weeks.
EG initial news Cascadura online at say 20 per day for initial production.
Later a month/months - Cascaura is now at 40 per day
Later - Cascadura is now at 60 per day.
There is hope that clean up will allow each well to do 50 per day, which is the "best case situation" and 4 wells - 2 existing at Casca A and then 2 new at Casca-C can give 200 per day by Q3 2024.
So might be news this week or next, the key takeaway would be inspections are over, sign off is done and now its all systms go, albeit slow slow at first.
This should mean we can get the first of 2 new wells, Cascadura-C1, spudded in late September hopefully and not slip into October.
So keep those FATC !!
Remember all.
Presentation tomorrow at 11:30am UK summer time.
Register to attend........and if you register early enough you can submit questions via the website. Link below.
https://www.investormeetcompany.com/investor/company/helium-one-global-ltd
Dont miss it.
14th August 2023 interview with the CEO :
https://total-market-solutions.com/2023/08/helium-one-global-ltd-august-2023/
Date 14.08.23
A new chapter for Helium One as the explorer targets multiple events
“…We’re not just targeting a single event. We know from Tai One that we had helium shows at multiple intervals. We’ve designed the well for a success case…”
It’s testimony to Lorna Blaisse that just six months after she became chief executive of Helium One Global, that chairman and significant shareholder Ian Stalker retired from the business.
It was a sign he had confidence in the company’s former principal geologist and that the helium explorer was in the right hands. She had managed to secure a drilling rig after a year of contract frustrations, although Blaisse says it was a lengthy team effort to secure the ‘neat, compact’ and ca.............. read more on the link.
https://www.londonstockexchange.com/news-article/HE1/operational-update/16081355
14 August 2023
Helium One Global Ltd
Operational Update
Helium One Global (AIM: HE1), the primary helium explorer in Tanzania, is pleased to provide an update on progress at its Rukwa (100% Operated) project area ahead of its Phase II drilling programme.
Highlights
· Civils work on Tai-C well site and access road now completed
· Commenced mobilisation of equipment from lay down area to Tai-C well site
· Appointment of full drill crew at an advanced stage
· Company remains on track for a September spud
The civils work for the well site and access road has been carried out and completed by TNR Ltd ("TNR"). TNR have spent the past couple of months clearing, preparing, and constructing an 130m x 180m well pad that includes a concrete cellar to house the wellhead. The well pad has been constructed to include an area for the camp that will provide accommodation for rig crew and project personnel. The cementing component of the well pad has been approved and signed off by the Tanzania National Road Agency (TANROADS) under the Ministry of Works and Transport.
In addition to civils work on the drill pad, TNR have also cleared and prepared a 2.4km long access road to the Tai-C well site. This provides clear and accessible entry to the well site and camp.
The next steps include moving the rig and all its equipment safely to the well site in order to commence rigging-up the Predator 220. In parallel to this, the Company will select the remaining drill crew and prepare for the arrival of the camp, third party services equipment, and the last of the remaining long lead items.
Lorna Blaisse, Chief Executive Officer, commented:
"Helium One is now another step closer to commencing our drilling programme at Tai-C. We are very impressed with the high standard of work that TNR have carried out and we look forward to moving ahead into the next stage of the project. The team has been working incredibly hard and we will now commence the mobilisation of equipment onto the well pad and finalise the drill crew as we gather momentum ahead of the September spud."
Helium One Global Ltd (AIM:HE1) is pleased to announce that Sarah Cope, Senior Independent Non-Executive Director, Lorna Blaisse, CEO and Graham Jacobs, Financial and Commercial Director will provide a live presentation updating on the Company's progress at its Rukwa Project in advance of the Company's upcoming drilling programme. The Presentation via Investor Meet Company will be on 16th August 2023 at 11:30am BST.
https://www.investormeetcompany.com/helium-one-global-ltd/register-investor
https://www.londonstockexchange.com/news-article/HE1/investor-presentation/16079567
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https://oilprice.com/Energy/Energy-General/Helium-Wars-Why-Are-Tech-Giants-Fighting-Over-This-Rare-Gas.html
Helium Wars: Why Are Tech Giants Fighting Over This Rare Gas?
By Michael Kern - Aug 09, 2023, 6:01 PM CDT
A daunting list of key industries the world over is now wondering where their future supplies of helium will come from.
What battery metals are to gigafactories, helium is to everything from scientific research, medical technology and high-tech manufacturing to space exploration and national defense.
None can survive without helium—a non-renewable natural resource typically recovered from natural gas deposits. Helium is unique among all elements because it can reach ultra-cold temperatures making possible everything from magnetic resonance imaging (MRIs) and semiconductors (which are now suffering from a supply shortage) to fiber optic telecommunic.....................
https://www.gasworld.com/story/helium-the-story-around-the-world/
Helium: The story around the world
By Molly Burgess on Aug 02, 2023
Helium shortages are common to the market. 2023 is shaping up to be the ninth year, in fact, that has been impacted by supply and demand constraints since 2006. And it won’t be the last.........................................
0.92 GBP currently, which is 1.58 CAD equivalent........lets see what Canada opens at for TXP in 20 minutes time.
New video interview :
https://www.proactiveinvestors.co.uk/companies/news/1022880/helium-one-global-gearing-up-for-drilling-at-rukwa-1022880.html
Helium One Global gearing up for drilling at Rukwa
Published: 08:05 08 Aug 2023
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) CEO Lorna Blaisse and Director of Operations Mike Williams speak to Thomas Warner from Proactive London about the hard work currently underway at the London-listed helium exploration company's Rukwa project in Tanzania.
Blaisse delivers an update on preparations for exploratory drilling at the site, which include road upgrades and construction of the well pad, and highlights the significance of the recently-acquired and Epiroc Predator 220 drilling rig which she suggests is capable of drilling more than 2000m down, with the potential to encounter multiple helium shows.
She says "its a big operation, but its an exciting time and everybody's looking forward to this phase of the project that we've all been waiting so long for."
Director of Operations Mike Williams gives more detail about the drill rig itself, calling it the "right rig for the right project... we've picked a rig that is capable that is capable of drilling what we need to drill at Rukwa and our other areas of interest."
Blaisse suggests that the company is confident in the prospect's success, noting a recent independent Competent Person's Report that indicatea a potential resource of 2.8 BCF of helium, equivalent to $1.3 billion in the current market.
She explains that success could mean drilling more wells, testing different play types, and ultimately bringing the project to commercialisation.
So ahead we have something like this :
Cascadura-A online at initial low rate RNS soon in August
Then Cascadura-A ramps up as the wellbore cleans up might be further news in August or September
Spud of Cascadura-C1 well - exploration and development in September.
Asset swap deal news.
Charuma license application news.
Royston 1X flow test results in September or October
Cascadura C1 TD reached and logging results in October
Spud of Cascadura C2 well in November
Cascadura C2 well results in December.
Flow testing of Cascadura C2 in January.
Potential spud of Royston-2 in January.
Flow testing of Cascadura C2 in February.
Rosyton-2 drilling results in February.
Royston-3 spud in March / Coho-2 spud in March - one of them ?
June 2024 Cascadura C pad online with A - possible 200 per day production plus liquids.
Second drilling rig put on hire after Casca-C is online. Then one rig doing development and one rig doing exploration for the next 10 years non-stop drilling.