Ann: Enterprise Well Initial Drill Permit Submitted, page-369

Morning
Certainly not recommending 88e, used it as a reference only to demonstrate what can happen with gas plays in the context of forming an off strategy. You are right pure helium play's are different to gas and oil but a free carried position before drilling is always the optimum place to be bearing in mind each individuals own risk appetite. Personal my on strategy is always based on trying to get to a position to be free carried. For example I bought 4m @ .019 and sold 2m @ .045 giving me 2m free carrage I am now accumulating another 4m odd @ .032 and will sell half of that @ around .064 on the back of permit approval, which I believe is highly likely given previous highs. This will leave me 4m free carried for drilling results. You are also right re helium isn't as risky as it's close to surface and ground seepage lessens the risk dramatically. So summing up you are correct on all accounts and I get as you say your risk appetite is high for this play and that makes sense to me given where and what this play. So folks should consider that when formulating an off strategy, so thanks for the post as it adds a deeper context to the discussion in respect of formulating on and off strategies particularly for energy stocks.