Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
They are not looking to pick up He1, just the 2 assets/basin already drilled. The funds will allow HE1 to be fully funded for all the other drills, and derive a passive royalty income of 10% from these 2 wells
12:03 PEEL 100,000 1.9
12:16 SCAP 100,000 1.9
12:13 WINS 100,000 1.9
12:15 MREX 100,000 1.85
11:27 STFL 100,000 1.75
12:16 JBER 100,000 1.7
09:35 LIBC 100,000 1.6
08:39 SING 100,000 1.6
8 Depth
2 100,000 MREX 12:15
2.05 100,000 STFL 11:27
2.1 100,000 PEEL 12:03
2.1 100,000 SCAP 12:16
2.1 100,000 SING 08:39
2.1 100,000 WINS 12:13
2.2 100,000 JBER 12:16
2.4 100,000 LIBC 12:03
Note the following from the RNS - 'Successful Tai-3' - No need to revisit, funds keep the lights on while the takeover happens . The takeover was planned long before success, 4 million is to see them through till it happens, hence the discount didn't matter, and why the placing was only for a few million, rather than a large amount to continue drilling and extraction. They were never going to be a producer in phase 1, it was always going to be sold to a major with a lump sum and royalties from production. That's how they will fund the other prospects...Duh!