Back from holiday and caught up on the update. There's a lot to like from a bigger project view - low cost to prepare the 8 lookalike structures for drill/test; NHE technical team have used the added time to re-work the hydrogen potential; all likely achievable within the dry season and current funds (I expect some top-up but minor compared to previous rounds with focus on shallow geo/drilling).
I emailed some follow up questions to IR a month ago following on from the webinar. Two of those queries around the prospects located on the western side of lake Rukwa are relevant to this news update so i'll share (paraphrased):
1/ The site for modular/expandable plant infrastructure would likely be Mbelele (not surprisingly); and 2/ That plant could likely service any of the prospects on the western side of Lake Rukwa. (Eastern side of Lake Rukwa would require a separate plant)
With a host of new potential gas caps to test on shore western side, this works nicely into the expandable infrastructure design - particularly if offtaker/s pickup the initial bill with a payback period. Low hanging fruit as posted by someone above. Looking to maximise use of that initial infrastructure, and increase free cashflow with minimal CAPEX. IMO, there is great potential for value adding in the activities outlined in this update, and an interesting 6 months ahead. Good luck to all holders and the NHE team with the coming drilling and flow tests.
NHE Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
