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The market doesn't appear to be overly confident that we shall get a rig confirmation RNS tomorrow but who knows. There is a bit of a lack of confidence over how slowly things have gone since listing but with full non-dilutive funding and everything on the move anything can happen, even GEX keeping to a deadline.

ATB

It's great that they are making progress with Mt Winter BUT this is now all about getting Hussar drilled and proving up the Helium and Hydrogen resource. Get this done first without too many distractions and then they can worry about additional wells and resources.

The rig contract is still due to be signed by tomorrow. That is the news we really do need to be reading.

ATB

Thanks. I remember that now. Cheers.

Hi, I'm not completely up to date here. Can someone please explain what is going on with the CLN's - there is talk on here of restructuring - but I cannot seem to find any mention of them in the recent results. Cheers in advance.

Looks like they bottled it to me. I'm new here but it is fairly obvious from the chart what the seller has done to the share price. And the m/cap is about £660K by my reckoning (and it was £340K on opening).

The sells are just coming through from today's buys - 369,975 bought at 10.26am and sold at 10.45am and 171,924 bought at 9.44am and sold at 10.41am.

Https://www.georginaenergy.com/operations/operational-updates/

he pictures look a lot better than those from March 2025. At last things are progressing.

Re my last post does anyone here have any communication with either GEX management or any of the nomad/brokers or PR??? - as it might be worth asking if the £7M payment which is not designated for a specific purpose may be considered as a direct funding cost. I will ask myself but has anyone had any previous questions, etc answered and if so by whom??

Just a thought - can the £7M required for the acquisition of Mt Kitty and the other 2 wells that GEX are due to raise be covered by the £25M funding package???

There is a surge of helium activity across the LSE market which could carry across to GEX soon.

HE1 is busy both in the US and Tanzania, with their valuation back approaching £100M, while PLSR has a valuation of nearly double that and they still have to test their drilled wells. HEX is also getting close to production. GEX with assets far in excess of anything else on the market have a valuation of less than £10M. Plus HE1 have to extract their high grade Helium from 16,500 bpd of water which sounds laborious and presents a large disposal issue though this is offset by Helium flow rates of between 5.4% and 9.2%.

It look like things are finally moving forwards here. The Explorer Rig seems to be the number 1 choice and that can be contracted by 25th February, which is only 8 working days excluding today. It also makes sense that the team is on site undertaking detailed inspections and evaluating the planned work programs first before signing any contract as they need to make sure that once they commit to a rig then they will be able to get it to site.

ATB

We should get news of the work program first and then the rig contract will follow soon after.

Valuation approach and recommendation

We initiate coverage with a BUY rating and target price of 46p per share (Core NAV: £76.5m risked), representing 5x current levels.

I'm not sure why they don't just sell Coalswitch. For what it's worth sell it to ICE, led by Richard Spinks who "originally introduced and named CoalSwitch® during his earlier tenure as CEO of AEG".

AEG have far too much of a successful looking new business to waste any more time on it. That's if it is worth anything - though surely it must be to Mr Spinks.

If you look at the trades there are a lot of sells and they are keeping the share price and m/cap down. It's a pity the placees can't see beyond their 10%/20% profit and hold for a much bigger pay-off.

The 33MW target is just the next step on the way to the planned 300MW and that is just in the UAE.

Growth Roadmap - Modular & Scalable Delivery

Active Energy has developed a phased approach to capacity build-out, with the 8 MW + 25 MW upgrade (33 MW total) forming the foundation of its 300 MW pipeline:

· Phase 1 (0-3 months): Deployment of first 8 MW, delivering near-term operational capacity.

· Phase 2 (3-9 months): Expansion to 25 MW total on the same site (33 MW combined).

· Phase 3 (9-24 months): Scale to 100 MW operational capacity, including the 33 MW site plus a new 60 MW site currently under negotiation, expected to be signed off in early 2026.

· Phase 4 (24-36 months): Expansion to 200 MW to be deployed, with additional sites already identified ensuring deliverability on the scalability to the full 300 MW pipeline.

And if 33MW can generate revenue of £14M then 3OOMW will generate revenue of £127M. Simply mind-blowing. And that is still just in the UAE.

If the share price gets back to 0.15p that would still only be a m/cap of £5.76M - still very low for all the revenue generating activity - and a m/cap of £10M would give a share price of 0.26p.

The problem here is the placing from last September which was done at a big discount and saw a huge increase in the total shares in issue from about 500 million pre-raise to 3,841 million - so 3,333 million new shares at 0.075p - which are obviously still being churned. Prior to the confetti raise the share price was about 0.15p which would be a nice price to get back to with all of this good news.

MrH-m

Conrad released an RNS on 30th January along with EME to say that EME's 8.5% was fully reinstated. Here is the link:

https://yourir.info/resources/3f46e16f9e883e80/announcements/crd.asx/6A1309368/CRD_Binding_Term_Sheet_for_Duyung_PSC_Settlement.pdf

GEN10

It's all in this link from Sarir on 9th Feb;

https://x.com/taodaily_io/status/2020892621162336673?s=46

I'm surprised that no one has posted anything about the directors plans to raise $100 Million this year to invest in TAO.

Mind you they will need to be a lot better with the funds than ASTR have been so far with the £10M that was raised last year as that has been largely p*ssed away with poor decisions making. For a start they were going to buy bitcoin even though as all of the Bitcoin Treasury companies later discovered it was not the time to buy bitcoin as that was then setting a new all time high at $125,000. Instead OE irrationally invested a chunk of the raised cash into ETH, but that was also at a high so when that was sold some months later it was sold at a loss. Then, under the advice of the 2 new managers, a fair chunk of what was left was invested into TAO. However that was also bought at a high, with the price of TAO I reckon somewhere between $350 and $450 (check the chart for yourself) when bought while as of today it is $147 - so that investment is more than 50% down on paper at least.

I think a lot of the problem is that TAO (and the other Cryptos) all seem to be tied to Bitcoin whether they like it or not and it is generally accepted that according to the 4 year BTC halving cycle, BTC is going to go down this year from the 2025 new high and probably won't start climbing back up until next year. Exactly how low it might go this year is not yet known but what is certain is that it will drag TAO and the other cryptocurrencies down with it.

Just my thoughts. ATB

Sorry I hadn't finished that. I'll start again.

Let's face it, no one expected such a huge amount of available cash for drilling costs. In truth, even the diehards (and I consider myself one here) were beginning to worry if GEX were going to get any funding at all. That is now out of the way and the serious pre-drill planning and work can commence. With sufficient funds available for any contingency, I would expect things to happen quite quickly now. I just hope that the share price will re-rate as this progresses towards drilling.