What's the Story With Helium One?

At CBS, we've been paying some attention to a potential, impending helium shortage.

We saw some odd news (and a ton of publicity) this week about a startup, Helium One, that claims to have discovered a "huge helium gas field" in Tanzania - 54 billion cubic feet!

But there are some hilarious pictures of the apparent discovery process - a guy looking at a puddle, and a plastic tube propped up on a stick.

Are they really trying to raise $40 million on the basis of that alone? I wonder whether they've read The Big Score??

P.S. I love Glenn Chan on resource investing. He has a lot of must-reads including Mine economics explained, Figuring out the skill of mining CEOs, and Smart fraud.