BNL blue star helium limited

So can we just try to summarise the current state of play here....

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    So can we just try to summarise the current state of play here. This is my understanding happy to hear other “views”

    1. E16#1 was drilled to total depth on 1st March (drilling is done)
    2. During drilling there were a few stuff ups resulting in a ping from the regulator (blame the contractor if you like, doesn’t really matter it’s done and it’s BNL SP that will suffer not the contractor)
    3. Also during drilling we got some water Ingres into the hole that has resulted in a delay to full testing. This was due to be resolved and testing underway by end of Q1 but still no news. An update next week would be nice please BOD
    4. Some helium was encountered during LWD
    5. E16#1 saw a much deeper intercept of the Lyons formation and also a much deeper GWC to Hill#2
    6. BNL took the best 2 numbers (top of Lyons at Hill#2 and GWC at E16#1) to come up with a potential 73m structure (I said at the time and still maintain this is spin that even Warney (RIP) would be proud of.)

    Looking ahead heaps of application have been submitted for the rest of the program (thanks for the SH comms Murray as the BOD doesn’t tell us about this stuff!)

    IMO it’s in the balance at the moment. No doubt huge potential, good ground, well defined work program and cash in the bank...on the other side of the scales a lack of proactive comms and niggling doubts (for me) as a new holder about management capability...again just my own investment thesis but I need to have faith in the team who are responsible for my cash and once I start telling myself to hang in cause of all the other positive stuff it an internal red flag that the greed of potential upside may be clouding my judgement.

    So come on Trent and team talk to us SHs please. The market doesn’t like being treated like a mushroom.

 
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