Member Info for BuildersBum3

I get what your saying, but let me be clear.. I didnt say sam didn't try, and im thankful he got it over the line in the end.

My main point was in response to Marlon wishing we were involved in ex argos license, and I said there was just one person to point the finger at for that, if one needed to be pointed, which considering the position rkh had, and the opportunities to make it so during the timeline of 15 years, I feel that finger needed to be pointed at Sam.

Italy was a disaster, issues were known when we took it on as the incumbant couldn't get it over the line and thus sam took a risk with the main show (development of sealion) which didnt pan out.. same with Egypt.

Premier was also a disaster and you can see that the market knew it from the moment it was announced, just take a look at the sp graph from then on.

The financial director he hired from easyjet - poor appointment, shown the door as soon as the tax issue became a reality - the next one he hired was an unqualified newbie that did nothing to move us forward for the next 10 years.

Yes he has negotiated SL is over the line, but that can hardly go down as a skillset on his resume as we ended up with circa 190m usd exploration carry and cash to keep the lights on for a few years and a loan for development in return for 65% of the nfb acreage and a circa 60% dilution in shareholding over the years- so we still owe our remaining share of development costs and have managed to keep circa 15% of the nfb and 40% of the sfb acreage in return... masterclass in negotiation.

Please have your opinions, they are just as valid as mine, but make no mistake, the immense value and opportunity within RKH has been sold down the river long ago with Sam at the helm.

That aside.. there is still a massive opportunity here, its just 15% of what it once was.

BB3

Added to that, he hasn't served up chocolate hobnobs at the agm since we struck sealion..

😪

Hi Marlon.. agreed, it would have been good but that ship seems to have sailed when we could have stepped in instead of JHI but didnt.. this time round we didn't have the cash and likely didnt get an invite from Navitas to partake.. they are no fools and they certainly know how to screw the other side of a deal to the floor.

Expecting Navitas to be friendly and offer us a slice when we have nothing to offer in return but a begging bowel, who can blame them.

If there is a finger to be pointed at how badly things have turned out, or rather how badly RKH have dropped the ball, from discovery of sealing to today.. please look no further than Sam.. been an awful track record.. glad he has finally got it over the line, but it has cost shareholders dearly in terms of what could have been.

Other than paying himself massive money, with huge options and bonuses, he has presided over a financially bungled farm out to the wrong partner that has lead to paying tax on monies never received, missed buying Des and had to buy Fogl to get it leading to an over spec rig which didnt perform in the north, leaving him to sell the hope rather than the fact on everything outside of sealing, spunked 500m with no FID in sight, bought and sold italian and egyptian assets at a loss and fumbled an arbitration, oh and that's before giving away 33% of the company to non shareholders at a deep discount to get FID over the line.

As you can tell.. im not a fan, but I am a fan of the FI, and RKH or Navitas is the only way to play it.. c'est la vie

BB3. Bring on the drilling and let's get some oil out.

Hi Supra, no view on Hex as i've not looked at them for at least 6/8 months and i'm sure lots has changed in that time.

Fyi to get 1kg of he3 on a year we will need to flow at 50mmcf per day..

Curently we have 1 well under compression doing 1.3mmcf per day so.. maybe once we have 35 producers we can expect 1kg of he3 per year.

However, we could find higher concentrations, and or higher flow rates as we progress but 50mmcf per day would produce so much he4 and co2 that it would likely crash the price in thoes markets... so.. my take away is that the US government focus, funding and help in producing this (if it were on offer) is great, but we will likely only produce .25 - .5 of a kilograms per year.... a nice cherry to have but its not the gameshow, the prize and focus is He4.

BB3

Ill be looking forward to a few free beers at the RKH AGM mid 2026 then Daikihaku.😁

Congrats.

Your very welcome GOYB.

I found the stock via a failed investment in HE1 but liked the sector and its trajectory.. found pulsar and felt it had what he1 didn't in terms of a great location and right at the start of its journey.. the story and opportunity hooked me just as the RKH one did back before their SL strike but still had the shell well data to go on... very very similar and thought it would resonate with RKH investors.

Just super happy its panning out as I had wanted it to, God knows there have been plenty that havent over the years.

I'm sitting with about 1% of the company after selling a load in the last few days (im not prepared to ride this back down like I did RKH- lesson learnt).

I wish you well with your investment here.. there is a long way to go, and its in price discovery now so expect a very bumpy ride until a takeover offer or fundraising off the back of the commercial plan which will actually put a value to this.. another 4 months of trading the swings on this and we could all be sitting very pretty indeed.

Good luck to us all.

BB3

Ok.. i hadn't checked re. Rns on completion, was just going from memory.

If the do always rns the completion then I would say this is now running over time.

The drill was circa 5000ft and they were over half way when reporting the 3rd gas encounter on the 9th... so.. by my estimation they should already be finished.

Could they have been delayed by having to log another zone at the bottom? Would explain the big bump in price yesterday!.. but with so much going on the bump could literally be anything.

I have my figures crossed, but there could well be a very good reason they chose to go much deeper on this drill, was it to seek something 2000ft below the third gas encounter???? If so, we would likely find out before the end of the week.

BB3

I would imagine they are already complet on js5 and likely setting up at js6. There hasnt been completion and spud rns's as standard, news has been released when gas has been encountered.

Last rns told us where js6 will be located, so if nothing new found at js5 (like a 4th gas zone) then i would be surprised to hear anything before one telling us gas has been found at JS6 (likely at the end of the month).

Bb3

Us up 67% as it was closed yesterday so playing catch up.. Canadian 30%/33% is what we are going to match tomorrow

Not sure where you are getting your numbers from, but here is the facts from a range of RNS's...

JS1 flowed in 2024 at 150 Mcf/d natural, then on Aug 15th 2025 at 501Mcf/d natural and then 1.3mmcf per day under compression - RNS 26th Aug 25 - the hole had a well head pressure of circa 190psi (I cant find a downhole pressure and I don't think its been made public)

JS2 issues with flow due to rock dust fines due to air drilling method which hasn't been used for 3,4,5 so no help in production number evaluation..

JS3,4,&5 which will be flowed in the upcoming extended flow tests will give us more numbers for commercial calculations, but what we do know is the downhole pressures of each @ 960psi, 887psi & 1,292psi respectively.

Hope that helps

BB3.. for what its worth, i'm expecting revenue to be somewhere between $14m and $16m per well before tax and royalties and without accounting for any He3 which is still a complete unknown with regards to $$$

It's not nothing news.. but it also isn't new. It's a tick box which has to be done if you want to be considered a critical raw material producer in the US, which helium4 isn't - is in Europe but not the US.

Independent validation means its now irrefutable and also now on the government books as legit, thus adding the discovery to the strategic critical list which would be the first step to any negotiation.. which the RNS states will now be explored.

I read from this, easier and possibly cheaper funding, better access to technological capability and knowledge to aid in seperation, storage and production. Offtake agreements, commercial introductions, and possibly even an investment stake by any number of allied governments and their agencies.

This is the News within the RNS..

Having the USGS and LLNL independently verify our helium-3 results is a landmark moment for Pulsar. We are extremely encouraged to see that all labs report essentially identical helium-3 concentrations in our gas, which gives us and our stakeholders full confidence in the accuracy and significance of this discovery.

Beyond the scientific validation, these results carry strategic implications for the Topaz project. Helium-3 is a rare and critical resource, and now that multiple laboratories have confirmed its presence and grade in our Jetstream #1 well, we intend to actively engage with the U.S. government regarding Topaz's development. We see an opportunity to collaborate with government agencies to fast-track this project as a new domestic source of helium-3. Considering these confirmations, Pulsar will be pursuing U.S. government participation in Topaz, a step that could accelerate our path forward and help realize the full strategic value of this discovery for all stakeholders.

BB3... its not talk, its an action milestone.

They were over half way through JS5 on the 9th Jan, with delineation wells taking circa 2 weeks each. This well is a little deeper at 5000ft so I'm expecting them to be finishing now.

JS6 will take it to the end of the month, however the company have been good in reporting gas finds during drilling so if it's successful then i'd expect something before the end of the month, and then we have the flow tests starting in Feb to add to the news flow alongside JS6/7/8/9 etc.

The other unknown is if we will be getting the analysis of gas in JS3 and JS4 that the company said they took samples of in the 8th of Dec RNS "In addition, well-testing has occurred at Jetstream #3 and #4, with data collected now being sent for interpretation."

So lots of news flow maybe some of which might still hit in Jan!.

BB3

Phone the broker and ask them why you cannot trade the stock.. I'd imagine you can in some shape or form as its listed on 3 markets.

UK-aim-plsr

Canada-tsxv-plsr.v

US-otc-psrhf

If they can't facilitate a purchase or sale, then at least they will give you and answer as to why.. worst case, you can always open an account with a provider that can trade UK AIM stocks.. e.g. Interactive Investor (ii).

Very rarely do I see the share price above both the bid and the ask.. I'd imagine its because its thinly traded and its over three markets, so likely something weird going on but the price offered to you for buy and sell at the point of transaction is what you will decide upon and what is displayed on a trading dashboard/chat forum info site is generally irrelavant.. that said I have seen it on this share around 5-10 times recently with the SP trend going in both directions, so can't see a correlation to why its like that.

BB3 - good luck.

It's been interesting to see that the SP has remained quite robust with the volume of new shares coming to market over the last few weeks. With more share purchase and options to come in the next few days, it would be great if the share price can continue to maintain its upward trading channel.

I'd imagine the vast majority of these new shares are providing the market liquidity at the moment and are being sold as soon as they are being received... so, once they have all been bought up by the market, then I assume the share price will have to rise to free up more.

🤞 demand for these shares keeps pace with the new issuance, because if it does we could be in for a step up once the overhang has gone..

BB3

Apologies..

Close of above 1.42 would be the highest close..

It spiked to 1.70 intraday.

BB3

Great find.. rpoodle.

Close above 1.50/1.52 is the all time high then👍

Don't think we will see that pre flow test results but I'm happy to be proved wrong.

BB3

As to new highs being reached and the share being in price discovery mode... we are not.. (even though I stated this a week or so back, apologies).. I had forgot that on initial JS1 well the share reached 1.30 Canadian dollars, so still a little above where we are at the moment.

That said, we are at a yearly high, and very close to an all time high.. any good news from here may well push us into that price discovery area above our all time high which could result in a re-rating / or irrational surge for fear of missing out.

Good luck everyone, this looks to be a great share for 2026 and maybe beyond.

BB3

I expect everyone to have taken up the OO, barring the odd crazy person.

With regards to the SP, I expect it to go back up into the 80's after the OO shares hit the market. I think this as the curent SP is artificially low in order to gobble up any sales to fund the OO, then again on the OO shares coming to market.. come Feb and the liquidity gone in short order we will be back up to the warrent price in no time.

BB3

My mind keep coming back to the 1,292psi number, this is exceedingly good.

If further wells expand the deposit area, and flow tests show communication then the commercial production number here could be massive (he3 numbers being aligned as a % of he4 from samples so far show a single source).

1,292psi is 4 x js1 .. doesnt prove the size of deposit is bigger but extraction at a faster rate = more $ helium produced per day, which improves the economic model with regards to cashflow generation and likely roi (return on investment within the first few years), which will have a massive effect on risk and repayment profile for any possible lenders...

This company is going to fly over the next 12 months...

💪🥳

🤞 for JS6 and the resulting increase in deposit size..

The new reserves report once completed is going to look vastly different from their last one.

BB3