Member Info for BC2504

Hi Punter, yes that's correct. Just glad we're now on the same page about the flow rates :)

Hi Punter, to the best of my knowledge, they have never flow tested and then not provided flow rates. I was just clarifying that we have flow rates from part of that interval already. I'm sure they will provide them and then state that the well will be plugged into the plant.

Hi Punter1234, I was not referring to you, but I am sorry that the message has offended you. Would love to hear your comments on the valuation comment though :)

The latest RNS also clarifies that the success of the fishing operation does not impact He production from Inez.

Hi Punter - re: "Do you think whether Inez flows are not will be?" - We know that Inez flows from the targeted production intervals as per the RNS 10/09/25 combined with info from the last Inez RNS. "Production from the Souris River interval is the objective of the re-entry." and "Inez #1 was perforated at a specifically chosen 55ft interval within the Lower Souris"..."Flow rates established with Absolute Open Flow estimated at 1,157 thousand cubic feet per day (Mcf/d) and a maximum surface pressure of the zone tested at 1,541 psi.".

As an aside, no reason to think the rest of the well (from intervals which flow at other locations) would not flow in a similar rate.

Output capacity that should read, based on throughput capacity :)

Agree that £1 is too high for 2026 on He alone, but if the plant can reach its current membrane throughput capacity of 70mcf/day, fair value based on a revenue multiplier would not be far off this figure. If you project an average helium sale price of $800/mcf (assuming higher for at least this 3 month offtake and drifting down slowly over the course of the year), this works out at an annualised ~$20.5m/£15.3m, apply a standard 8x multiplier and you are looking at a ~67% gain from today, or about 61p. Then you can factor in future revenue increases (It is my opinion that 4 wells will be sufficient to reach 70mcf/day), so even 1 additional well (and associated membrane installation) could send this value to 75p+ on helium alone.

Punter stated that he was also kicked from the TG. Assuming he is the other one kicked today his last message stated that he had sold down 95% of his holding. Not that you can’t make some valid points without being invested, but worthwhile noting when you see his posts.

NNWW, I'm not sure which of the two people you are that got kicked today, but I can tell you that out of the thousands of people we've had come and go in the chat, only 9 people have been banned (who weren't bots or spamming links to other shares). If you're individual number 1, Your messages often rub people up the wrong way and I have personally had 7 other people message me over the last few months saying you're trying to influence sentiment either way to suit your trades (which broadly we don't care about as long as it's not painfully obvious/lazy deramping followed by best thing since sliced bread ramping). If you're the other person, I will tell you that admins can see your edited and deleted messages, and can see what you chose to remove. I'm sure you already know which of these refers to you. Either way, I'll say the TG group is very welcoming of negative comments in general (as you could see clearly during the AGM). We're no more informed than any other group anyway, so I'm sure you're not missing out either way!

I don’t understand why you think not filling the trailer until now is a red flag - the most logical and simple explanation is simply that they weren’t filling it up until they had an offtaker to pay for it. They have that, and have then subsequently began filling the trailer to ship it off.

We will get one saying resolutions passed and nothing more.

Here’s the relevant section from the Charles Archer interview -

So we'll probably produce each well at around 1,500 MCF per day. That's 1.5 million a day each. As we bring the system up to speed in these early production days, we intend to bring our INAS number one on production in the next month. And at that point, we'll effectively be at the capacity of our current plant,

which is rated for six million a day input. So, you know, one point one, one point two percent helium that translates to 70 MCF of pure helium a day. You know, we're still targeting a high price of $500 in MCF, despite, you know, there's some softness in the healing market,

but that's $35,000 a day or nearly 13 million annualized. And, you know, here's the part that really excites me. Our plant is designed to scale. You know, the core infrastructure, the PSA system stays the same. All we do is we have to add more membrane modules as we bring in more wells online. Yeah.

I should add - at which point we will be generating about $2m per month, which I believe we will reach in the next 3 months.

If I remember correctly the plant can currently do about 70-80mcf/helium per day output. At current rates with Inez plugged in we will be in the 45-55 range and then probably ramp up towards the max. So whilst I do agree we would be maxed out on the outputs of those wells, I think we have some time before that becomes an issue (well 5 online), and I think it is a fairly quick process to add a new unit to increase maximum throughput.

What a bizarre post Punter. ‘Might extend’ is clearly not the wording that they used in the RNS, unsure why you would try and frame it as such. “both parties anticipating…” is the wording used which is much more favourable than how you’ve portrayed it.

Also, you can largely work out a price floor. “Pricing reflects current prevailing spot market rates and significantly exceeds the Company's pre-IPO model assumptions” - that’s the price hint we needed. They used $500/mcf pre IPO and $550 in the post-ipo scoping so using that wording really means a floor of at least $7-800. Do your calculations at 35mcf/day (midpoint from rns) and a price of $750/mcf and you get about $10m per year or a little over $800k per month. A fantastic start.

Fair enough point about Inez/other wells but that’s the only legitimate complaint I can see. I suspect once we get money coming in that should become clear too.

Giggle

Meaningless without knowing grades and exact parameters of the deal.

Ron can you shill your investments on their own board rather than keep mentioning it here.

@Span volume was 7.3m assuming no late reported trades.

Quote from the interview - "We intend to bring our Inez 1 production on in the next month". Quote from the last RNS about Inez - "Currently the Company is fully focused on production and entering into offtake agreements and will re-visit the testing activities once it has entered into offtake agreements.". Consider that there would have to be enough time to resolve the issue at Inez and complete testing before bringing it into production next month, this should put off-take announcements in the next 2-3 weeks. Exciting times ahead.