Member Info for ART123

I've just loaded up courtesy of IG - while AJ Bell couldn't get a live quote. It is just a question of how far up this is going to go before spud. Anything is possible.

Also just to quieten the dissenters re the results due at the end of the month, the Interims were released on time on 27th October 2025 so there is no reason for any delay to the Full Year Results nor is there a risk of suspension.

At last - and all of the delays are instantly forgotten - well almost!!!.

AJ Bell have just sent out a secure message to say that their last message regarding the imminent move to AIM was incorrect and it is not happening as yet or rather not as a result of the recent meeting and that another meeting will be required for this to happen. As I posted fairly recently I had spoken to someone at MDH's head office who assured me that they were aware of the situation with IG Markets.

I have just checked and when the Smarter Web Company (SWC) moved from Aquis to the LSE Main Market the whole process took about 3 weeks. They issued an "Intention to List on Main Market and Notice of GM" on 12th Jan 2026 and a Prospectus on 16th January. The GM was on 28th Jan (it needed 2 weeks notice) and their "First Day of Dealings" on London Stock Exchange's Main Market was on the 3rd February 2026. A move to AIM as against SWC's move to the LSE Main Market should not be any more complicated or take longer.

ATB

Yeah, 'u have to be in it...' but unfortunately myself as well as others here have been 'in it' since 30th July 2014 - the day this outfit listed and the only way the share price has gone ever since is down. It has not been much fun - and the bad times are continuing now with the seemingly needless delay to the rig contract. No doubt if they wait around long enough then the weather (rains) will become another prime excuse for even more inactivity. While all of the other pure helium exploration and production companies are rushing to get wells drilled to take advantage of the probable helium shortage this lot do absolutely nothing. Its embarrassing and annoying.

ATB

12 May 2026

Bitdeer April bitcoin output jumps 372% to 783 BTC

Bitdeer reported April 2026 bitcoin production of 783 BTC, up 372% year over year; BTC held rose to 73 from 31 in March.

Self-mining hash rate reached 65.5 EH/s versus 12.4 EH/s a year earlier; co-mining hash rate increased to 8.4 EH/s from 4.4 EH/s in March.

Yeah, it works both ways and the MM's have been hiding all the sells by showing them as buys. More likely to tick down methinks.

ATB

It's been 3.64p to buy for the last couple of hours (and now 3.595p) and it has been 3.55p to sell so all of the blue trades at that price are in actual fact sells. There have been over 1,500,000 sells showing as buys since 10.13 am and no buys since the 933,373 buy at 10.37 am.

The only news has been the cancelling of the acquisitions and there is very little confidence in the management here at the moment with the rig contract nearly 2 months late and no further news since mid April.

Perhaps ity might be wise to get on with the first drill-re-entry at Hussar before trying to take on any more pospects. Same old dribble about Schlumberger and CTP. Look at Pulsar and the other companies operating in the US. They don't just drill one well into a prospect. If they hit Helium they drill 2,3,4 wells and so on. PLSR have drilled 7 or 8 Jetstream wells. If this JV hits Helium at Hussar they could quite likely book the rig for a whole year while they drill numerous extra production wells and they certainly won't need to go looking for additional plays.

We'll probably eventually find that the hold up is going on with Schlumberger Oilfield UK Limited.

GEX were happy to appoint Aztech Well Construction for the re-entry (which they did as far back as August 2024) - a local company based out of Perth and familiar with drilling in the outback. Schlumberger, who normally deal with companies the size of Exxon and Shell, are probably wondering what they are doing being dragged into dealing with this cowboy outfit operating in the Aussie outback and have probably assigned it to a very low level of importance, hence the delay.

AJMHO

Well at least the acquisition has been dropped which is great news but as far as the Hussar drill is concerned it still leaves much to be desired.

GEX and Harlequin published a very straightforward timeline for drilling the Hussar well when the funding was agreed on 26th January. Basically the rig was going to be contracted by the end of Q1 and then, with everything else happening on site, the timeline to complete all pre-drill work was by the end of Q2 with the drill due to spud in Q3. All very agreeable and very straightforward as the drill permit had already been issued in advance. What could go wrong?

But now 6 weeks past the drill contract agreed deadline and 6 weeks into Q2 absolutely nothing has happened at all. We are still stuck here waiting for the JV to tender and contract the drilling rig before the prep work can start. And still not a word of what is going on from GEX.

HE1 drilling in Tanzania was truly opening up a new frontier but a gas drill in Australia is just another day at the drill site.

The drill won't take too long when they finally get round to it. According to the Strike Energy website they drilled their Walyering well in just a matter of days. It was spud on 15th April and reached 2596 metres by 18th April and they then drilled on to TD of 3650 metres on 27th April. Hussar is only going to 2800 metres.

Also there has been a lot of fuss and hard work made over this drill but in reality there are gas and oil drills all over Australia and they are as common as gold and copper drills - 2 a penny in other words. Hamilton has just over-dramatised the whole business instead of just getting on with it. It's just another drill to the Aussies.

The timeline is frankly quite ridiculous which makes it look as if nothing is happening when in reality all they need to do is sign a rig contract, spend a month or so preparing the well pad and the surrounds and then mobilise the rig to the site. Then a quick drill. Just the same as the other hundreds and hundreds of well all over Australia.

My Google search of 'How many onshore gas and oil wells have been drilled in Australia has got the result 'While there is no single, publicly updated national database providing a live, cumulative total of all onshore wells ever drilled, thousands have been drilled across Australia, with over 3,000 in the South Australian Cooper/Eromanga Basin alone. Major activity is concentrated in Queensland, SA, and WA, with ongoing drilling in the Beetaloo and Surat basins.'

Hussar is just another drill except this time they are targeting the helium (and hydrogen).

What a week. The news about the cancellation of the acquisitions was truly sensational and it couldn't have been any better. The threat of all that dilution giving 25% of the shares to CTP and the thought of trying to raise £7M with a £5M m/cap was truly horrifying. Now that is out of the way the share price is finally going up.

ATB

I have just phoned Mendell Helium via the contact number given on their website and spoken to a very helpful staff member. The person assured me that they are aware of the IG issue and are confident that the move to AIM will be done in time, obviously subject to the formality of the approval of the takeover of M3 Helium at the EGM and, as Larus has posted, no further GM or approval will be required. Nick will still have to issue an AIM Admission document but that is well underway.

Quick question please if anyone is around (and knows more than I do!).

I have my shares in my IG ISA account so I will need to move them or sell them by 20th June. The meeting on 18th May appears to be to seek shareholder approval for the fundraise ("Second Tranche Admission") and the acquisition of M3 Helium but not to seek agreement for the transfer to AIM. Previously Nick has said they they will need to issue an AIM admission document and following publication the Company will need to hold a general meeting, presumably for shareholder approval. So can I assume that that they will have to hold another GM before the move to AIM in which case it is very unlikely that the AIM move will have been completed by 20th June.

Cheers in advance.

Some amazing news coming out from this company but unfortunately the whole thing has been/is being ruined by the total ineptitude of the management with regards to the placings. They couldn't make any more of a mess of it if they tried.

This was from the placing on 9th September 2025:

"Active Energy Group PLC announced a proposed placing to raise approximately £2.5 million through the issue of approximately 3,333,333,333 new ordinary shares at a placing price of 0.075 pence per share, representing an approximate 50 per cent discount to the closing price on 8 September 2025. The company will also issue warrants over new ordinary shares on a one-for-one basis with the placing shares, each warrant allowing the holder to subscribe for one new ordinary share at 0.1p per share within three years. The net proceeds will be used to advance renewable energy projects, harness surplus energy for AI, data, and blockchain services, and for general working capital. The placing shares will represent approximately 86.8 per cent of the enlarged issued share capital."

Note that the placing at 0.075p was at a 50% discounted to the 0.15p close of the previous day. An equal number of warrants were issued (3.33 billion) at an exercise price of 0.01p and also that the placing shares represented 86.8% of the new total shares in issue. That was a dreadful placing, albeit in all fairness they were just at the beginning of their UAE venture.

However there is no excuse for the pricing of the placing of 30th April 2026. The share price had been as high as 0.175p a few days earlier and everything was going pretty well and then they announce a placing at a price that was barely higher that the one of 6 months or so earlier. At the very least the placing price should have been set at a higher price that the 3.3 billion warrants (0.1p) and as others have posted recently 0.12p would have been fine. On the plus side at least there are no warrants attached to the April fundraise. The problem is that however good the news the management have created a hurricane force headwind which is taking the share price down as quickly as it is trying to rise.

AJMHO

Continual stream of good news but why oh why do they do such stupidly discounted placings. The placings are the only thing keeping the share price and m/cap at such a silly low level and looking at the recent one the management don't seem to be learning.

Every London-listed Helium explorer in the US is right now drilling like crazy to try and take advantage of the potential rise in the spot price so if anything the GEX/Harlequin JV should have maybe brought the drilling forward rather than let the schedule slip as they have done. Same old moans on here though today has possibly been the start of a much improved shareholder experience where we will see the share price rise and strengthen but first let's have an update on the rig and drill preparations please.

Brilliant news and good that we got a positive tweet out of them today as well - GEX advancing toward funded drilling at Hussar in Q3 and a mention of the supply disruption.

Mind you in advance I will be happy to not hear a word about the weather (of all things). Drilling is ongoing all over vast Australia for a huge variety of commodities with not only all of the AIM and London listed companies operating there but with a much greater number listed on the ASX and none, I repeat none of them, spend their time complaining, worrying or even commenting on the weather. They just bloody get on with it - and this lot need to as well.

The share price appears to be waiting for a rig update and then we may just see it rising for a change.

ATB

This is a copy of an email I sent to Georgina Energy yesterday:

"I am a private shareholder in Georgina Energy. I have been trying to speak to someone in your London office but my calls keep going to voicemail.

I was under the impression that John Heugh, the founder of Central Petroleum (or their forerunner), was an active director of CTP but on further research on Google it transpires that he left the company as far back as 2012. According to various articles from the time he was sacked from the board by his fellow board members and then took the matter to an Employment Tribunal which found in his favour and awarded him substantial damages.

I cannot see how Georgina Energy could possibly get involved with Central Petroleum considering the animosity between them and Mr Heugh and as a shareholder I consider the acquisitions to be a very rash decision. Might it not be a wise decision to cancel the acquisitions before any more animosity and tribunals are required."

It looks like my wish has come true.

All we need now is a progress report on the Hussar drill to include a signed rig contract and this might come very good after all.