By Tom Winnifrith, The Sheriff of AIM | Sunday 3 July 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Highlands Natural Resources (HNR) is yet to answer the issues raised in the Paul Mendell bombshell of last weekend and so while it keeps its head in the sand, here is another matter for it to discuss: why is it lying about its Helium plays? Yes that is the L word - go ahead and sue me bitchez I shall happily see you in court.
You will remember that Highlands bought these assets for $91,000 in June and a few days later said it was selling them for £4 million in shares and £240,000 in cash to fellow fully listed Cenkos advised dog with fleas Opera (OPRA). I am going to love Opera's RTO document, I do like a good bit of fiction and comedy to read myself to sleep with at night. But back to Highlands and its lying.
In the last release on its assets in the Muddy formation of Montana it makes a great play about results from the Jorgesen #1-R well drilled in 2002 since this is in "close proximity" to its prospect. It is in fact more than 200 miles away. And thus I guess sitting here in Bristol I guess I am in close proximity to my friend James Saperia in Leeds. James fancy popping round for a beer? See you in ten minutes. After all we are in close proximity.
So to justify its claims about its assets it uses 14 year old data from a well which is nowhere near its acreage but heck those Limeys are so dumb they will believe it is right next door won't they? Those Britishers they voted for David Cameron they will swallow any old horseshit. Fooled y'all.
But we do actually have some data from the Muddy Sands themselves. I now quote from the Highlands RNS:
'The Muddy sands have been shown to contain 0.36% Helium, from analysis of produced gas from a drill stem test of a wildcat well drilled by Pan American Petroleum Corporation in Section 23, Twp 5N Range 52E, Custer County, Montana in 1969. '
All well data in Montana is viewable online, the state has an archive of all the original documents. There are only 3 wells that have ever been drilled in the area 5N-52E. The whole US in lease terms is broken into square grids of 1 square mile, each grid has 36 sub grids. So the Highlands well is listed in section 23 of that grid. There is only one well there drilled in 1969 as stated and owned by Pan American.
You will note that Highlands does not mention the well name, why not? Anyway it doesn't matter the yanks think we Brits are thicker than Britney Spears and can't ID it and know where to look. Sorry Yanks but this Brit knows where to go....
Here is what the original well log states. The well name is NPRR 1-10 the tested level is Muddy Sands just as in the rns.
Under the title 'Did well flow', Gas NO, Oil NO, Water NO. there is no mention of Helium anywhere in the whole Goddamn fucking report as you can see HERE
In case any Bulletin Board Morons reckon I fabricated the frigging documents here is how you go about finding them.
This is the well search facility so you can see the documents yourself. The actual well may pop up in the left hand column, If not in the top left drop down column shown as API select 'well name'and two boxes to the right type NPRR 1-10.
If you want to see the wells in the grid they mention choose 'Location (T-R) then in that search box to the right put 5N-52E. You will see 3 wells pop up in the left hand menu. HNR news says Section 23, Twp 5N Range 52E. You will see in the NPRR 1-10 report it's in section 23 of that grid 5N 52E.
Click well log and a page with a number comes up, click on that and it opens the well data archive report (the originals). It's what companies use to try and find missed opportunities, they trawl through 1000's of records.
Over to you Highlands. Maybe like Britney I am just too thick to understand. Anyhow, I await your response, just like I did last weekend. Go on baby hit me one more time...
Now where has James Saperia got to, the beers are ready, he is in close proximity to me here in Bristol as he lives in Leeds, it's been fifteen minutes and the bugger still is not here. Well I never.
Never miss a story.
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