Member Info for Adw198

“The Group posted a loss of USD 1.70 million for 1H 2025, which compares to a loss of USD 2.56 million for the comparable period in 2024. The Company's cash balance at 30 June 2025 was USD 2.37 million (USD 1.70 million in cash and USD 0.67 million in Financial Assets)”

If you burn though $1.7m in H1, how can you say revenue covers costs, as he tried to claim recently? It’s clearly still loss making and given H1 continues to decline it’s still going to be burning through cash. Which is why there was a raise.

I was surprised there was that much cash tbf.

Heron 1 decking rate continues, as does PC’s payment games.

Bonkers

TT1981 the man who got angry because I expressed a view there would be a placing.

There was a placing

@Opinions by non share holders are written with agendas ....”

Think it through, Mal. Who is going to be biased and who is going to be able to look objectively. There’s only 1 logical answer.

I bought back last month at 0.76 and then 0.83 because I thought the 75% would land. I sold because the delay and lack of buying suggested otherwise. It might still land and likewise the Gazelle coin toss might land the right way but I suspect a negative result will lead to a bigger drop than a positive one would increase. So it’s an evens bet with a 8-13 type return. Not a good bet for me atm. If the risk reward equation changes my opinion might. Others are wedded to long term position and financial and emotionally over invested.

I don’t think there’s much dispute there is oil under the ground, Mal. The issue is whether it can flow at commercial rates and so far heron2 can’t. I’m not sure whether elevated gas will help that but so far the 2 wells they’ve done have been very underwhelming against most people’s expectations. Imagine the reaction if someone had predicted heron 1 only flowing 150-160bopd, they’d have been lynched here!

Those who told us they expected nearer the 821bopd it PEAKED at, or told us to expect £5m -£10m winter revenue should be most disappointed. But they tell you how happy they are - any comment on that?

“I view the show of more oil and gas than expected and the connection of the beam lump as a good and strong indication that H2 will be pumping oil commercially, but at a solid and modest rate.”

@manx - minor correction which may or may not be important but they actually said gas and oil, not oil and gas.

Clear as day he’s trying to mislead with a partial quote. Now, ask yourselves if he’s prepared to try and trick you about that, what else is he lying about/ trying to trick with you?

Probably the fact he sold for a profit having told us the opposite

What FTSe presented i said

“ It’s not worked and they’re assessing how to make it an injector”

What I actually said - mature, balanced and presented as opinions…

“Possible reasons for taking very very slightly longer than guided.

It’s not worked and they’re assessing how to make it an injector

First attempt was ambiguous so trying again

Just a standard drilling issue (broken part etc)

FWIW I’d say the above are broadly in order of likelihood. That’s because the water injector was specifically mentioned as plan b which would presumably mean they’d take extra time.

“If commercial rate of oil production is not achieved, *then a water injectivity test will follow* to assess the potential to use Heron-2 as a water injector to provide reservoir pressure support to enhance production at Heron-1.”

Whatever the answer no news isn’t great news because the clock is taking before winter shutdown.“

Ha having an OPINION based on LOGIC is hardly misleading.

But tell us more about when and why you sold whilst ramping the backside of it as multiples of today’s price?!

You’ve never detailed selling anything here that I’ve seen. You did say you topped up at 0.80 which had done wonders for your average. So were you lying then or are you lying now?

Nope I didn’t say that. I said I thought the most likely reason for the delay was it had failed and they were trying the water injector. It was a speculative opinion presented as such. The rest of you INSISTED no news meant it was being brought to production because it was proven commercial. That was more wrong! Even after the RNS Abzzba claimed it despite the company saying the opposite!

Stick to the company rather than just cheerleading abuse.

FTSE in Feb

“And in a few short weeks after H1 remedials we can multiply H1 production by a factor of 2 or 3, factor of 4 might be asking too much but you never know.”

Infact it dropped and continues to do so.

Unlike yours Ftse. Another one who has been here for years and massively down.

Nothing constructive to add, unable to take issue with anything I’ve actually said.

Truth hurts, don’t shoot the messenger, play the man not the ball. Pick your own saying.

@ Thorn has nailed it here

“I also know that all those dismissing his opinion would have been praising him from the rooftops had he said good things. Stock love and lack of objectivity don't usually bring good results on AIM.“

None of us know whether the cos is higher or lower than a month ago. What we do know is the RNS didn’t offer any language indicative of confidence. Instead it claimed things had gone to plan despite a near doubling in the time it’s taking. Buck and other insiders are presumably free fill their boots if they’re so confident - but he only gets involved in massively discounted placings.

As suspected the Margs \ Tenbag persona unable to leave me be. So that’s me here for the foreseeable.

Maybe next time lads!

I sold at a loss once - I got 1.81p.

Was that a foolish decision too?!

Yep good summary Investor.

The spikes ended the same year you told us they happened every year and it was as simple selling in November and buying back in May. Will you be doing that this year, or just telling everyone else what to do?

Harder when not trading on hindsight isn’t it! :)

“Interims out next week”

Now this is exciting. We’ll get some more clues on how dire the finances were when they told the market and auditors they were a going concern

“If adw198 had been posting then (May) he would have been announcing the demise of the company every single day....”

I’ve never once mentioned demise.

Who knows what I might have flagged. But anyone who was at least considering risks in May last year when the SP closed nearly 6 times higher than today probably would be glad they listened.

Unless they were playing the 6 year charting game and following your advice :)

“Because they were so confident of near and mid term prospects Adw (198) that they'd agreed to a hefty salary reduction to keep things moving forward perhaps?

Perhaps that's why they didn't buy as many shares as they did last time (Buck and Petrovis).”

I’m pretty sure Petrovis haven’t taken a salary reduction. Fair play to MB for taking a massive salary cut - required to keep the lights on I suspect and I’m sure he’ll look after himself with share awards but still fair play.

“17 Sep 2025 18:46: Adw198 said, !!! If Heron 2 is brought to commercial production in its own right this year I’ll never post again.!!!.

Will he keep his word, i doubt it very much”

Yes Margs happy to stand by my word. If you mention me even once between now and then the deal is off though. Good luck!