Member Info for CrustyPete

Yes, good news for once. But I need closer to 3000%

What do I believe is likely to happen? That will largely depend on if and how long it takes the BoD to execute the Farm-Out. Galactica should provide a flow of good news over coming months, assuming BLN can resolve their funding issues, with income and new drills supporting an incremental sp rise. But that will be small change compared to the impact of the next Rukwa drill. The big question is He1 ability to get that done and the terms of any agreement - how beneficial will that deal be to He1 and shareholders and that depends on the conversation of a few days ago about the evidence and confidence provided by the Itumbula ESP and the dilution issues, which of course we know little about.

"Get over it "? Sorry McNol, I am not sure that I understand what it is that I should be getting over? I would simply like to know if and how, where we find ourselves now is consistent with your earlier "whale" theory? The two don't seem remotely compatible. So what now is your explanation for what we witnessed?

There but for the grace of God eh? Divine intervention?! Yes Gordon I understand the "guarantee" issues but was given to believe that Selan were still working to get it done.

"Synergia remains willing to complete the SPA, however, since the conditions precedent for the SPA have not been satisfied by Selan prior to 8 February 2026, Synergia intends to examine its options."

But agreed, not a done deal by any means. Though I fear any "working relationship" that ever existed between Synergia and Selan is now way beyond repair.

£290k per month would be sufficient to cover overheads at least, so ;like if the old dog yet. Still have thee CCS issues/costs to resolve.

So McNol you say "Success for the bullish case requires a sustained increase in volume velocity during the 08:00 or 09:00 GMT auctions to challenge the 0.67p resistance...."

And, if that doesn't happen what can we conclude will be the strategy of our resident "whale(s) " and the 20% shareholding accumulated from 0.96 down to 0.55p? Where and when do they see their "bull run"....?

Oh there's a surprise, a marked improvement in production now that we have sold our share to the operators for a song! Ever feel that you have been taken for a bloody fool?

Well considering that the market in general is way down today and that He1 rose 30+% yesterday that is a very good result; would have expected that purely on profit taking. Considering that over 360 m shares have been traded the market is down 1.5% and we are down only 6+% it is actually very reassuring.

So something of a sense check on the funding of the forthcoming 9 well drill programme. Those that have been here long enough will be aware that the cost of drilling of the initial 6 wells was expected to be $450k max. Now there were (as yet unexplained) cost overruns but much of that was the cost of the roadways necessary to allow drilling to continue in adverse weather conditions; so, I am happy to accept the $450k figure as a reasonable estimate for ongoing drill costs.The anticipated income from the existing 6 wells is circa $8m p.a. with all wells tied in and contributing, though the CO2 revenues will not start to accrue until H2. Even so It should be more than possible to hypothecate 9 x $450k or circa $4m from the first 6 months revenues - or use only half of those revenues to cover drill costs and skim some off the top for BAU.... or some combination of the two.

So yes it was anticipated that revenues from the original wells at Galactica would cover the subsequent drill programme but either way the necessary funds will be accumulated within 6/7 months, or the initial income will throw off surplus revenues very quickly.

M&P will have no further immediate use of the drill after meeting their three well drilling obligations so no reason at all why ARA cannot keep the drill in country and look to use it in further drills. It would make sense for all concerned. Just hope that the Rig owners don't have longer term commitments for it though I am sure that ARA will have done all they can to secure it and probably a long while ago.

Yes and, what is more, it will begin a slow and steady rise thereafter.

Copout, I am relying on other's knowledge and mathematics BUT a week or two ago another poster calculated that a full trailer would be worth approx $175,000. Though that was at the He1 rate of the time.

Quite right djw, Let the dust settle, this is a longer term game..... I am very happy with my holding and the market machinations of 24 or 48 hours won't change that

Never fear, McNol's "whale" will be hoovering up at the 0.60p floor....!

Well I hope some "late adopters" don't get spiked....

Plus the prospect of He1 and CO2 from the further 9 wells yet to be drilled. Should take no more than 12 months based on the previous 6 drills.

That is a totally reasonable conclusion Ufufuo - an August / September drill perhaps but then that is exactly what I have been suggesting for 18 months. That M&P drill was never going to be available any sooner! ;0)

So much for drilling at any point in 2025 or Q1 2026 eh?!! Lol!

Well today's news has been some time coming but all the better for waiting methinks. Time enough to tie in a lot more wells and hence accelerate any subsequent offtake. How long now before we hear (at long last) that the first trailer has been filled and sold off?

Just a quickie, Can sell up to 10m for 0.70p

Thetriplestar, so if, as I am happy to accept, there is a "solution" (excuse the pun) for Itumbula why, oh why, haven't the BoD at least alluded to it? It would be good to know that it is retrievable and that it can be made to be "commercial".

Oh and by the way we are now over the 300m trade volume mark and 0.68p on the bid.

Have to dash. Good night and good luck all.

But whilst we are still talking about Itumbula I am keen to understand the "art of the possible" with the Karoo dilution issues. What options do the BoD have, if any?