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GEX management will be better addressing the headroom issue and then they can raise as much as they will need to get the first drill prepared and drilled and stop wasting their time on £200K placings and £300K debt facilities.

Yeah, so the first drawdown for £300K (not a lot) can be converted into shares at 8p within the next 12 months - and not tomorrow or the next day. Who knows but the share price might even get to 8p over the next 12 months and then it won't be a big deal anyway.

Who the hell does a placing for £200K when the m/cap is about £6.2M. That's just ridiculous, And the share price isn't going to go to 8p either. Don't be daft. More like 4p after a while.

Yeah, the 4 million shares are going to be issued on 10th November and as they won't be holding them until then, then they can hardly issue a TR1.

They are just not using their heads. If they had done today's placing and debt facility and at the same time announced that they were using the funds, plus whatever was left over from the last placing, for the commencement of the groundworks and then also announced that they were going to issue a new Prospectus and/or hold a GM to increase the headroom so they can issue more shares, then by the time the preparations are completed that should all be done and they can then raise the extra funds needed for the drill. It's all quite logical really.

All that waiting around for the drilling permit and now that it has finally arrived the management haven't got a bloody clue how to raise the funds for the drilling. What a fiasco.

Hamilton and Wallace have proved themselves to be CLUELESS the whole way through so far and it looks as if this is going to continue. They could at least say that they are committing the funds to the pre-drill groundwork and at least get started on the preparations. Then they can worry about how to get the funding to pay for the drilling nearer the time it is needed.

The problem here is that however much the share price rises, they cannot do a placing without a Prospectus and a GM. They are in a real mess. Maybe they should delist from the Main Market and join AIM. Then they can force the share price up and raise as much as they want/need.

Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:

"We are delighted to welcome an Institutional Investor on the Company's share register. This strategic investment not only strengthens our balance sheet but also underscores institutional confidence in our vision and asset base. The funding provides us with the flexibility to accelerate the advancement of our key projects and evaluate additional growth opportunities to deliver enhanced shareholder value."

WHAT A LOAD OF ABSOLUTE TOSH AND WAFFLE.

The placings are now down to £200K which isn't going to get much done.

Thst's fine. Let's hope he keeps the market informed and that it doesn't take as long as it took to get the drilling permit.

Wishbone raised £1.75M with a £1.75M m/cap to get the funding for their drill. The m/cap peaked at £20M pre-spud and then soared to over £50M on successful drill cores. There is even more potential here, but they do need to find a quick way of getting the funding to get this underway.

Yeah, or they could even talk the drill contractors into taking payment in shares. It's been done before. Offer them a nice, cheap share price. They might even end up being paid 4 or 5 times more for the job than if they were paid cash!!!

By the way, I bought in here at the end of July last year, fresh from a profitable trade on the HEX IPO and stuck all my profits on this at an average of about 14p/15p. The last thing I was expecting was for the share price to rise a little and then stall and fall down like it did. And it has never picked up since, hence I am still holding them.

I see no reason to sell at a loss as they are potentially sitting on a huge Helium prospect, so it should come good at some stage, allowing me to get my money back and even some hard-earned profit, though who knows when that might be and I will probably need to average down quite heavily at some stage to get that result.

ATB

They raised £5M at the RTO and claimed they were fully funded for the Hussar 2 drill costs plus commitments to Mt Winter, etc, but they won't be able to raise £5M on the Main Market with a £6M m/cap. They might get away with it on AIM, at a discounted price, but not with their current listing.

All that fuss and delay about getting the drilling permit and now they finally have it, they don't appear to have any funds available for the drill costs, nor any visible sign of how they are going to get any - at least not without further long delays and/or massive dilution - which isn't itself a problem as there are bugger all shares in issue so far. However, the Main Market listing is a problem as this makes it very difficult to raise funds, particularly with a low to tiny m/cap and certainly not without a long-winded and complicated prospectus.

No wonder AH doesn't have a clue what to say. Let's hope he doesn't get stuck in a loop and start bringing out the "Hussar EP513 Drilling Approval" granted RNS every day.

On the first link click on the green appoved last 30 days and the following pops up:

Application # Application Type Reference Title Date Lodged Lodged By Decision Date

STP-EPS-0486 Exploration Permit Suspension With Extension EP 431 EP 431 16/07/2025 BURU ENERGY LIMITED 30/10/2025

SOP-WLA-0193 Well Application Hussar-2 EP 513 09/05/2025 WESTMARKET OIL & GAS PTY LTD 30/10/2025

STP-SPA-0112 Special Prospecting Authority Application With Ao SPA 44 AO 05/11/2023 ESHWA PTY LTD 27/10/2025

Https://pgr.dmp.wa.gov.au/PGR/ApprovalsTracking/ApprovalsTrackingResult.aspx?d=%2fxafR%2f74B0PcNn%2f9jV%2fwWWZ2D34N6cCUyYC29EXUhCrKegR2g1ZC01fXNYQR3CAzsLqJcvncOQ0%3d

https://pgr.dmp.wa.gov.au/PGR/ApprovalsTracking/ApprovalsTrackingDetail.aspx?d=/xafR/74B0PcNn/9jV/wWWZ2D34N6cCUyYC29EXUhCoccLGuJdMwMBaJoGvQoK9RNH4sQmXymlY/vvvudK14X41YB7G0Ze56

Showing Finalisation for the Well Application which presumably is the same as the drilling permit. Title EP513 - Status = Approved.

Just for clarity and for the avoidance of doubt, it is clearly stated in the RNS dated 14th July 2025 - link below - that:

"For the avoidance of doubt, preparation of, and access to, the Hussar Well site cannot be undertaken until final expanded environmental management plans are approved as part of the drill approval. The Company will then undertake repairs at the Hussar airstrip and access roads, and begin to construct drilling and camp location pads, as well as water wells."

In plain English, that clearly says that they can commence ground preparations once the 'expanded environmental plans are approved' and does not say that they have to wait for the final drill permit approval.

https://www.lse.co.uk/rns/GEX/hussar-ep513-well-management-plan-approval-11hce5uqmn2kv1t.html

No wonder Hamilton is so worried about the rains. He is that much of a drip he is obviously in danger of drowning in a puddle. It's a shame as the prospect is super-hot. The off-takers even approached GEX practically begging for the opportunity to be part of this massive prospect.I

Yeah, it looks to me as though they should have started the prep work weeks ago in advance of the issuing of the permits. Don't the management here know anything? At least will they please get on with it now!!!