Member Info for BlueGlow

Is the company planning to relist anytime soon that you know of?

How long has it been delisted?

Are you aware of other holders able to sell via a different broker?

Tro,

Its ok, its mostly in the recent operational update i see.

Tro,

Its ok, iis mostly in the recent operational update i see.

Tro,

Any idea on timelines with BCE?

Kenny, nom,

Gosh, i had no idea that wild boar were so prevalent there!

Hi SmartBeds,

Its a baseless smear perpetuated by Graham and Bob, so implausible as to be embarrassing, imo.

FWIW i rate Jimmy as an outstanding contributor, one of the most polite, unassuming and informative poster ive encountered on LSE.

Good analysis, overview, imo.

https://www.youtube.com/watch?v=Lc_9NsHFiDo

AI behaving like a bubble asset, Commodities undervalued.

Hey nom,

As in how to run a successful drilling campaign :)

Having these services on-tap reduces the perceived risk to the market, at least on the operational side.

The geological risk is what the market gambles on, it doesn't want to have setbacks and delays due to getting wellheads through customs, or taking inordinate amounts of time acquiring a rig for instance.

As the scouts say, be prepared :)

Strong move up on UFO Tro,

OMI up also.

Good interview with Helix.

The partnership with Petroleum Consultants gives them access to a full suite of services, engineering, inventory and project management.

Based in Billings Montana, which also looks set to act as base camp for the Helix team, they are local, and have local experience with similar campaigns.

Lessons learnt from HE1.

Team exude confidence and professionalism in both the recent interviews.

Rig contract next.

Re dragonflies,

The ones im on about have the wingspan of a small blackbird, and tend to gatecrash sunbathing sessions, forcing everyone indoors!

They move so quickly, particularly when hunting, that they appear to almost teleport from one location to the next.

Have also encountered them on woodland paths, hovering around head height, where they refuse to budge no matter how much one gesticulates.

Morning Trek,

Thanks so much !

Good seals, stacked targets, cheap drilling and appreciated the recognition of the need to avoid unnecessary dilution :)

Your enthusiasm is as infectious as ever. Reeling me in like a fish, lol.

BRV,

Thanks for the reply :)

Enjoyable and informative in equal measure!

Things looked very different when we had a large wedge to spend as required, its rather frustrating that we have reached a point where once again cash is a consideration, without yet having performed a flow test of any description.

My concern is that the drilling window and testing schedule (expectation 21 days) look to be almost in overlap.

Wiggle room will be at a minimum.

Significant intervals appear set to remain untested, presumably to preserve cash.

The drilling of MOU5 is of course necessary, more than that, hugely important. But flow testing extensively - far more so. Also coming with far less risk, or with a greater CoS, when the companys cash position is so precarious.

I dont disagree with anything you say, other than to point out that the risk associated with testing doesn't end once the formation is breached. We require consistent flow and continuity of supply from multiple sources. To achieve this, some degree of remedial work, minor or major, wouldn't be a surprise.

We are being shoehorned into small windows of activity by this bonkers regulatory extension process, which caused Paul to abandon testing, standing down testing equipment and personnel last year, and again delaying the same activity this year. Another cut off looms, coming at a rather inopportune time, again with the potential for disruption.

It all feels like trying to thread a needle with the lights off.

Any issue with MOU5, with cash in your pocket, is surmountable and a temporary setback - SP holds. Better to approach from a position of strength imo.

Similarly, with testing, RNS: We encountered difficulty with X and have already moved to resolve, SP holds, no problem.

Raising on the back of adverse news must be avoided. The dilutary impact of even a small raise, particularly from a low base, is exponential on final value.

Thanks Tro,

Gold advice as always, appreciated :)

I actually quite like Minchin, in so much as he's no worse than the bulk of CEOs, knows his geology, and knows how to generate interest in a stock.

Obviously he has experience specific to helium, so a natural fit really, and always seemed to interview well.

Tight bull flag forming on OMI, im in there. Gold play. Fingers crossed lol.

Already up plenty, so nice buffer for any turbulence, but its held steady above 4p with the odd spike up.

Hey Tro,

Re the dragonflies, i dont know but i think a family member was complaining about being bitten, i dont know, they are so big they freak me out lol.

Re that IPO, i had a look, tempted yeah :)

Minchin the sequel.

Might be some churn after the initial listing so only spectating ATM. I guess its inevitable im going to have a go sometime though lol, especially with Trek as our onsite salesman reminding me of what im missing out on lol :)

Kenny,

Even his beard looks like its made of Gold :)

Tro,

Dive bombing dragonflies also, whats with those guys?

Like prehistoric insects they are so big!

Have been told they bite too!

BRV,

"I see drilling MOU-5 as a no-brainer at a well cost of $3.5M particularly since, as you mention, “The Company is fully-funded to drill MOU-5 using currently uncommitted, discretionary, cash on the Company's balance sheet.”[RNS 5/2/24]".

Your assertion of a no-brainer assumes a 100% success rate, with no further difficulty being encountered during either testing or drilling.

Imo, this isn't an especially prudent approach to a pivotal period for the company.

Any issue encountered during testing with penetration, water, compartmentalisation, depletion, or flow, stepout or sidetrack, are going to require cash.

This is why it would have been preferable to be heading into testing cashed up to the hilt some 8 months ago now, rather than on fumes.

This is also why i disagree with Keiths previous characterisation of a potential sidetrack as merely inconvenient when advising another poster on the possible impact.

The process isn't without technical difficulty for starters, and would have implications across the licence for all similarly effected horizons, not to mention delays.

But all that aside, the company has no way of funding a sidetrack other than discount placing.

Fancy a raise on the back of an RNS revealing SJ failed to establish stable flows?

No, me neither.

But this is the reality if its remaining cash is committed elsewhere.

So imo, the overriding priority is flowing gas, this liberates us to pursue other matters.

Keith,

Jimmy is highlighting the need for the company to remove its self from the dilution cycle that presently hampers all operational progress, and in turn the SP.

Your reply, imo, falsely frames the options - drill immediately or forego entirely.

MOU5 is an exciting prospect, but relatively high risk. It represents the beginning of a potentially costly venture - particularly if we intend to develop an understanding that achieves anything remotely approaching fair value.

With a relatively low CoS, what happens if the first drill fails to strike?

Or yields sub optimal results due to location? We dont presently have another 3 or 4 million to go again half a Klick to the east, and the market knows it. How do you think the SP is going to react.

The reality on the ground is a company struggling to perform the basic functions of O&G exploration. This isn't the result of some master plan to stave off a hostile takeover. The company has simply been unable to organise the equipment and personnel to conduct a flow test for in excess of 8 months.

Given the difficulty it is experiencing, it would seem prudent to focus all attention and what funds remain, on successfully flow testing our existing wells, with a view to ending needless shareholder dilution and the grossly disproportionate destruction these relatively small raises have on ultimate value.