Nice jump to easily finish on the high of the day and I have a feeling of more tomorrow. I am NOT a chartist but it did seem to dip yesterday to hit a gap and hopefully now onwards and upwards |
 We know from previous RNS that-The flathead started at 7410ft. The drill bit was still in gas at 8030ft with 10.3% natural hydrogen. The new drill allowed them to continue drilling to identify the full extent of the gas zone. So the new rig continued drilling until they passed through the gas zone expecting to reach the Precambrian.They continued down from 8030ft in gas to 8550ft through a second sandstone. They could release more data on this before flows commence."Re-entry operations commenced on Clink #1 with an initial goal of placing the problematic Mowry shale formation behind pipe. The Mowry was successfully cased over the entire interval with 7-inch casing cemented to surface.Following successful re-entry to 8,030 ft and with the well in good condition, the Company deepened the Clink #1 to 8,550 ft to determine if the Precambrian could be reached. Precambrian rock was not found but a second thick Cambrian sandstone horizon was found at 8,290 ft all the way to total depth."All targets had Helium shows, with levels of 50x to 130x above background in the Amsden and Charles formations. |
The market didn't do much last time as they were about to run the wireline when they had the shale issue. The presentation gave people an idea of what might be there but it is all guesswork without the wireline test. |
I’ve been surprised at the relative lack of movement (up or down) with Hex.
Sure, it fell a few pence when the shale issue was first announced. And it rose a few pence when they revealed this problem had been solved. But both times, by less than I’d expected.
I guess we’re still in nomansland. Some obstacles have been overcome, but we still don’t know for certain what the next week or so will bring news-wise. That uncertainty, coupled with global market volatility right now (what with the Middle East, Ukraine & the US Presidential election) are probably what’s behind the current muted response to Hex.
That said, if commerciality becomes reality, I very much doubt we’ll remain in the 20p zone. Equally, if the news is bad or qualified, the mid teens at best might well beckon. |
Bit surprised to see such a big pullback? |
First flowsFirst flows will come from the deep Hydrogen layers. Cant wait for these.The payzone must be a few hundred feet.The first rig maxed out still in gas at 8050ft. This was extended and a second sandstone was reached at 8260ft and continued down to 8550ft. How much of this was in gas.So interesting knowing the concentration figures are pretty huge already and the Hydrogen was bubbling to surface through the drilling muds which Bo states gives diluted figures.Let's see if "The world is ours" |
Super efficient CEO well connected and professional outfit. Other Aim companies would have milked this opportunity to feed the bucket shops with cheap stock Not no nonsense Bo. |
An interview now would help push the drive a bit :) |
Good report. The only hiccup in it is that both Ingomar and Rudyard operations will overlap, running alongside each other towards the end of this month. Whilst Clink is in its EWT Rudyard will be drilled which will then move to its EWT straight after logging. |
https://smallcappix.com/blogdetail?id=34 |
"Unless anyone has seen something specific, I suspect that Rudyard has probably been delayed a few weeks by the casing problems at Ingomar?"
Cyber ... Precision Drilling is currently at Ingomar and Treasure State Drilling will be working on Rudyard (after the did they initial drill at Ingomar) so Rudyard isn't being held back by work at Ingomar. |
The news flow has started. Cant wait for the hydrogen figures.Plus Rudyard operations to run alongside Ingomar.Flows EWT Drill Flows EWT all the way to Xmas now. |
EWT on both will be completed before then but alas Bo has spent many years on the fairway he has it in hand in his plan. |
Only Ingomar was slightly delayed due to the mowry which required a bigger rig for the casing but this rig also allowed them to deepen the hole to reach the full extent of the natural hydrogen payzone. Different rig for Rudyard still on track as planned. |
My sister lives in BigFork Montana winter coming in now ! Won't stop Bo and his Crew just yet ! Come January it will be harsh |
CEO Bo Sears on #Hydrogen shows at Ingomar:"We have a wellbore with hydrogen shows.If it's there, the world is ours"October promises to be very active with 2 drills:?Re-entry at Ingomar to commence soon?Appraisal drilling at Rudyard in OcthTTps://x.com/helixexp/status/1840995060218777738?s=46&t=bZL80vMI6HUgaShSFUmNuQ |
Fair enough, Bo is going to be running around a bit then!! |
No not delayed Rudyard on track as per rig schedule for it. Drilling operations commence end of month. Both Rudyard and Ingomar operations will run alongside |
Unless anyone has seen something specific, I suspect that Rudyard has probably been delayed a few weeks by the casing problems at Ingomar? Not a problem normally, although it's coming into the harsh winter which can make it more difficult (though by no means impossible) to work. |
And that's besides Ingomar and the high concentrations of Natural Hydrogen plus Helium now found in |
All good now Claw |
Box ticked .....CEO Bo Sears on #Hydrogen shows at Ingomar:"We have a wellbore with hydrogen shows.If it's there, the world is ours"October promises to be very active with 2 drills:?Re-entry at Ingomar to commence soon?Appraisal drilling at Rudyard in Octhttps://x.com/helixexp/status/1840995060218777738?s=46&t=bZL80vMI6HUgaShSFUmNuQ |
In June, Oak Securities set a price target of 93p for Helix, following HEX's acquisition of the Rudyard discovery in Montana for US$250k in cash and shares. Helix is currently trading at 22.77p, giving it a market cap of of just under £30m on the AIM market. If realised, Oak's valuation will send Helix out of the ranks of junior resources companies and towards the mid-tier.
Oak values Rudyard at c. US$85m as it is estimated to contain contingent resources of 0.48 bcf of helium, with additional upside at greater depth. Oak's unrisked valuation of Helix's overall portfolio is 187p/share. In addition to increasing HEX's resource base, Rudyard should enable near-term cashflow.
Helium is in unprecedented short supply as demand for high-tech applications continues to surge. Demand growth estimates CAGR of 6% from 5.9bcf/y in 2023 to 8.7bcf/y in 2030. |
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