"We are delighted to see Helium One taking considerable strides forward both corporately and operationally. Helium One's possible IPO represents a real catalyst in terms of their growing profile and their ability to fund an active near-term work programme in Tanzania, which is expected to see drilling later this year."
Tom Abraham-James, Helium One's Chief Executive added:
"We have been reviewing our long-term funding options for some time and are beginning to focus on an IPO as most suitable for us. The ASX is a proven capital market and one in which our team has considerable experience. We would like to thank Solo for their continued support and guidance and look forward to an exciting year ahead for Helium One and all its shareholders."
A list on ASX
Needs more funding (we knew that)
Loads of Helium under Rukwa in a rising market.
Looks like the H1 investment decision was a good one and its a shame we didnt take more when we could !
Yesterdays trades included a sale or buy of one share.Some say that it a code used by the MMs to signal an Rns in the system. That one share was immediately followed by a large buy at full ask,think you are right about something brewing.
Solo Oil PLC (LON:SOLO) Executive Chairman Neil Ritson describes himself as 'really happy' with forward progress for the groups 25% owned Ntorya gas project, onshore Tanzania.
Aminex, project operator and 75% owner of Ntorya, this morning told investors that it is actively engaged with the Tanzanian authorities and with third-party engineering firms, in the advanced stages of planning for the Ntorya-3 well. News here too on processing the legacy seismic on Helium One and at Horse Hill, where timing of long term tests are underway shortly.
So, the board are forging ahead with Helium One despite shareholders being less than enthusiastic. By Q22018 well have 15%.
The board obviously see value here and are determined that Solo will be part of it.
I've some free time so ok, I'll bite.
We're at the beginning of a busy period for Solo with progress set to be made across the portfolio.
The more developed projects, the gas in Tanzania, is sold to the local market and isn't subject to the changing political situation regarding natural resources exports. This gas is what makes Solo different from many AIM oil/gas explorers; it has real dollars coming in from it's investments. A farm out or sale promises to inject some serious cash and this is part of the bod's core duties; as an investment company we need to be able to realise the fruits of our investments at the right time as well as make shrewd new moves.
The shut in at Kiliwani is disappointing but the operator believes the quantity of recoverable gas won't be affected. The market has reacted to this. When production comes back, will there be a corresponding lift in the sp? Maybe, maybe not but it will improve sentiment generally.
The Gatwick field looks juicy especially in the light of Broadford Bridge and work is scheduled at Horse Hill. HH is Solo's golden goose long term. UK oil is quite fashionable atm. The Isle of Wight feels like it's thrown in for free though granted it's a back burner investment.
The new early stage Helium investment looks to me to be genuinely exciting and possibly company making depending on how the bod handles it. Helium One is at the forefront of a new way of finding the gas and Rukwa is highly prospective and big. H1 has a USP in a market for a critical list resource. There's potential for speculation there for a private investor now and in the future imo. I'm very much looking forward to Solo updating the market regarding material progress.
I have to say I'm disappointed with the markets reaction to the webinar last week. Simply put, the bod missed an opportunity and the sp suffered. The market imo hasn't taken warmly to the helium investment and it's the bod's responsibility to take its shareholders with it. It has a great story to sell, it needs to do better. However in their defence I believe this diversification could be an interesting hedge against the probably stalling oil price.
On balance, there are more reasons to be cheerful than not so I have to believe that the sp will rise from here. Sometimes it's a question of scale and stepping back to see the wider view, in the future this stock will have a larger mcap than it has now, so it's one for the bottom drawer. Good luck.
One more thing, apologies if you already know this, if you decide to sell, depending on the size of your holding, when the mid-price is fairly static, try setting a limit order to sell at a price higher than the indicated mid-price, your shares then go into the order book as offered for sale. When someone duly seeks a quote to buy some shares the lowest offer of yours and other people's offered stock is the price quoted. If your holding is bigger than the average trade it might take a few 'buys' to fill your order. Thus you may sell at the offer price and not the bid. Every little helps. GLA.
I hope a mini roundup of helium/Helium One news might cheer us up. The silver lining to the markets' current opinion is of course that it's a great time to buy. We needed cash to meet our commitments. A placing, thankfully was out of the question so a loan is the way to go. I think the market will recover. The shut in at Kiliwani is said to be temporary and flow rate has been well above what it was producing previously. I'm bullish but obv this is imo and dyor.
Praxair Announces Helium Price Increases
November 15, 2017 08:30 AM Eastern Standard Time
DANBURY, Conn.--(BUSINESS WIRE)--Praxair, Inc. (NYSE:PX) is notifying bulk liquid helium customers worldwide of increases in helium prices of up to 10%, depending upon the region, effective January 1, 2018, or as contracts permit. Price adjustments may be higher or lower than this range in accordance with contract provisions.
This adjustment is in response to continuing cost inflation impacting crude and refined helium, including the most recent U.S. Department of the Interior, Bureau of Land Management (BLM) announced price increase, as well as higher distribution costs worldwide. Praxair continues to make investments and enhancements in capacity and the efficiency of its helium operations worldwide; this adjustment will further enable the company to continue to deliver high levels of supply reliability.
(since then Qatar has devised a different export route). Excerpt:
The industry has been trying to make the helium supply more reliable. That could mean severing the link between helium and natural-gas extraction. Helium makes up a minuscule amount of natural gas. While Qatars natural gas doesnt exactly have high concentrations of helium (0.05 percent), the country produces so much natural gas that its has accumulated helium byproduct for a tidy second business. The U.S., the worlds top helium producer ahead of Qatar, extracts helium from natural-gas fields around the Texas panhandle.
Since helium is only a byproduct, its hard for other helium suppliers to step up when something like the Gulf crisis happens. Producing a little bit more helium requires producing a lot more natural gasand energy companies arent going to do that for the sake of their secondary helium businesses.
Thats why the helium industry has gotten excited about the recent discovery of a giant helium deposit in Tanzania. This discovery has nothing to do with natural gas. Instead, the gas trapped underground is as high as 10 percent helium, with nitrogen accounting for the rest. A company called Helium One has formed to tap the deposit. Because were pure helium, we could potentially act as a buffer to the worlds helium supply, says Thomas Abraham-James, CEO of Helium One. If a political crisis deepened in the Middle East or ExxonMobil temporarily shut down its U.S. helium plant for maintenance, he says, then Helium One could step in.
Helium has been added to the list of critical materials (with an interesting chart):
"Solo is pleased to note the announcement by UK Oil & Gas Investments PLC that the Surrey County Council's Planning and Regulatory Committee granted planning permission to Horse Hill Developments Limited ("HHDL"), the operator of Horse Hill licences PEDL 137 and PEDL 246, to enable HHDL to carry out extended flow tests at Horse Hill-1 ("HH-1"), plus drill and test both a side-track from the existing HH-1 well and new borehole HH-2"
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