The Company always intended the shallow Mbelele-1 well to be an exploration well with the follow-up Mbelele-2 well, with more than twice the total depth (approx 850m), to be an exploration and appraisal well. It also explains why they ensured funding for both wells was secured ahead of drilling (to avoid funding issues related to irrational market responses to an astute exploration process).
It would appear the words 'plugged and abandoned' (which are just technical terms) have been grossly misinterpreted by the market in this case.
The Noble Helium story is far from done and dusted.
The Company always intended the shallow Mbelele-1 well to be an...
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