Member Info for CrustyPete

Peculiar - being offered 0.521p both to Buy and to Sell in quantity.

If BLN cannot get their fund raise away they are effectively "dead in the water" and we will get control over Galactica almost by default anyway BB! So I suspect there is minimal risk on He1's part.

I have been in and out of PLSR a couple of times since last October but have finally decided to begin building a long term position. Past experience proves that too early and too large an entry can be an expensive process, with frequent cash calls for often surprise dilutions; just as Bluetiger alludes to below. Hence I have just started with an initial £10k (two small tranches) and hope to build on dips and future dilutions as I see this price to be a great entry point.

GLA.

Cenzo, you say "This has happened to HE1 at every dilution. "... that is manifestly not true. Since the 0.25p raise at the end of 2023 (for whohc your statement was very much true!) there have been a number of raises. On 7th February 2024 He1 raised £4.7m at 1.5p when the sp was 2.4p at the time; over the course of the next month only once did it fall below 2.0p and that was to 1.85p. Similarly on 10th June He1 raised £8.0m for the EWT at 0.50p in the month thereafter the lowest it reached was 0.6p (close I will admit) and on one day only; after that it rose steadily and consistently to be at circa 1.5p on July 9th one calendar month later.

So whilst I would agree with your observation as a general rule it is certainly not strictly true in He1's case.

Oh and RJ, the principle reason for the re-entry of NT2 is to re-establish the CO2 content of NT2 - hence this could well give them sufficient information to enable the specification of the CPF. After all, they cannot then change that specification if subsequent wells prove to have differing CO2 levels. Moreover they would not be anticipating them varying significantly.

Blubay, I agree, I doubt we will hear anything more on Galactica until after the shareholder approval - though, as I alluded to yesterday, as the shareholder approval is a "given", I would be surprised if there was no activity on the ground before then. After all, He1 has £4,5m hypothecated towards Galactica and I doubt either party would wish to sit twiddling their thumbs for weeks on end awaiting that shareholder approval.

OKay Grampyan, yes, happy to accept that as an input, though of course the timing of such things as the rig contract, NT2 re-entry, CH1 drill and NT1 workover are not (necessarily) contingent upon it. Though maybe initiation of "construction" of the CPF may well be contingent upon work having seen to have commenced on the Pipeline?

RJ, my point being that all of the various components are "critical". No one is any more important than any other - albeit that, yes, we could still get to "production" with only one well "on-stream" - NT2 for example but that still needs "boots on the ground".

"Critical path" surely involves both? No use a CPF until work done on any of NT2, CH1 or NT1.... or pipeline for that matter.

In my view it is the current and, arguably, unnecessary lack of clarity that is causing our sp "malaise". As you suggest BB with the possibility of another £9m of discounted shares overhanging the market who can blame anyone for assuming the worst? Why leave risk on the table? Yes, there might be a cost associated with waiting for that clarity but will that be a significant cost and how long will those like us have to wait to get it? Opportunity cost and time value of money etc etc....?

I am committed now and won't be backing out but I do feel somewhat "underserved" by, and very frustrated with, the BoD. I do not think this cloak and dagger stuff is either necessary or in the slightest but helpful.

FWIW I do have a similar view of events, though perhaps slightly modified. If any of our suggestions is remotely close to reality it makes a total mockery of the current sp and the continued selling pressure.

Time for some clarity - on many fronts.

Can buy up to 50M @ 0.0422p on II....

Will it be today Steve?

I'll give you that ManiDani.

Keen to see the impact of that outstanding 50 million "trade" later today.

They were genuine "conversions".

Good work RJ.

I was just about to pick up on McNol's "thread" and now it has gone!! What the hell was wrong with that?

FWIW his seemed a very logical explanation for those "trades" at 0.68p.

We will no doubt see another this morning, or at least at some point today. And "no" it will make no difference whatsoever to the market price.... in my view of course.

The "Chart" is created using execution prices at a given time of day - hence the "price" at 16:02 would have been the price executed at that time.

SWS, I am not attempting to answer for BB but my own opinion is that "Investor" could well have been PE / Debt Funds who also have Equity investors. The Sale of shares was not He1's responsibility. The Debt Funds would have lent money to He1 knowing that they had an exit route for the shares within their own Group and at a pre agreed price - i.e. the price of the equity at the time of the execution of the CLN.

I am evidently speculating but I am aware of similar arrangements having been executed elsewhere.

Moreover BB, if my theory is true, or even close, continuation of that methodology, would offer some downside protection to the market and PI's from future "dilution".