Member Info for dai2belts

I ran it through AI....as its objective not full of AIM brain nonsense like me

Only part of the statement is “not aware” — specifically the mining lease.

Have you checked the wording in the RNS..

Two events mention

1 ratification which the clearly deny having price sensitive knowledge

2 corporate transaction which they clearly disconnect seperate from stasting no sensitive knowledge

The halt was requested by the Company pending its response to an ASX share price query, and to address speculation in relation to

1.the potential ratification of the Company's Ewoyaa Mining Lease (note that the Company is not aware of any developments since the announcement of 22 December 2025)

2.and discussions regarding a potential corporate transaction.

"in relation to the potential ratification of the Company's Ewoyaa Mining Lease (note that the Company is not aware of any developments since the announcement of 22 December 2025) and discussions regarding a potential corporate transaction."

AIM does'nt get halted, it could go on a run , as that update implies they are not aware of ratification , but then makes a vague comment around potential corporate transaction....

I thought the mining royalties needed to be approved first,,, looks like they paused trading 12:50am , then halted 4:16am, I think just before midday, and it was up 20% on the sniff of something,,

Hopefully its good news, as I could have sold 19.40p, MM moving the price about now, hopefully this is a dip before a run too..

Hold or fold ?

The solid part , results were very poor for He flow rate

their modelling suggests the flowed 15,000 bbls/d water would produce ~5mcf/d, but it only produced 0.277mcf/d, at $500mcf thats ~$140/d

My mistake, the first EWT, they did not give the GWR, giving the barrels of water, and helium as scf(standard cubic feet) and %He, so I converted water to scf to work out the ratio of water.scf to helium.scf, but since gas expands a lot and water does'nt much it will be wrong.....

Change in algo, or something, previuously the price walked up on sniffs of buyers, onetomanys buy did'nt budge the ask, or those that followed ..

Google AI

### Expansion/Contraction Comparison

**Scenario:** Rising from 1,000m depth (65°C) to the surface (20°C)

| Material............. | Volume at 1,000m Depth | Volume at Surface | Net Result |

| **Helium Gas**,,| 1.0 Liter............................ | ~88.0 Liters.| **88x Expansion** |

| **Liquid Water** | 1,000 ml.......................... | ~987 ml.......| **1.3% Shrinkage** |

**Key Takeaway:** While the dropping pressure causes the gas to explode in size, the cooling effect is stronger than the pressure effect for the water, causing the liquid to actually lose volume on its way up.

My post 16th Feb 12:26 could be flawed..... converting the water to scf, and not considering that the gas expands once release from water, or if free gas in water then expanding at surface... that P10 GWR 0.99 got me thinking.... although that previous post was AI aided, the same AI now thinks differently....

compliments of Blubay

-------Thanks Dai, you'll do this better than me but I don't think they reported the gas water ratio in the EWT results. That RNS was also quite diplomatically crafted to focus on the positive gas composition and the projected best case scenario. However, the CPR with access to the modelling data summarised it clearly enough. According to Table 3.2 and Figure 3.4, the 6.2mscf helium production reflects the highest case. The low case was near zero and the best case was above 1 mscf (while acknowledging the cautious nature of the CPR). To summarise

P90 - GWR 0.04 and He 3.3%

P50 - GWR 0.25 and He 5.2%

P10 - GWR 0.99 and He 8.3%

The new ESP results bottomed the CPR P90 case for gas ratio (0.05) but tipped over the P50 case for helium concentration (5.4%). They didn't mention whether they still believe the liquid production rate could be raised towards 20,000 bbl/d but it did exceed the CPR low case of 12,300 bbl.

Thanks blubay

You clearly stated IF,

I doubt Indigenous land rights are something companies can ignore these days.

Also in the update they claimed they inspected the seismic line, at the most its just a dirt track, most likely over grown with bush, since the seismic was done many years ago... They are supposedly re-entering an existing well, so whats to be gained by walking the seismic line,, so much seems waffle but I know very liitle..

The previous update the drew the site access road directly along the two perpendicular seismic lines, while you would think it would be the shortest route to the nerest highway

https://dw6uz0omxro53.cloudfront.net/3630965/72a2fedc-5f3b-4d74-8aa5-143ca9541a5b.jpg

Blubay, take a close look at the previous EWT results, and work out the implied GWR based on , the % helium vs the water flowed, and dont forget the gas mix as given

Can even search a directors name, and it will search every RNSs content, and it goes back to 2025

Updates live, or appears to be at the moment... 🥳

New one to test,

https://www.investormeetcompany.com/news-items?utm_source=meeting_invite&utm_medium=email&utm_campaign=new_rns

I notice posts deleted from yesterday, related to Hectors discussion on how a company proceeds after a successful 1st well,,,

Just thinking...

Gex claimed Harl gave the go ahead to start work, both contracting engineering companies, but if the funding is not binding they risk liability for costs...... which makes me think the site visit spend is out of Gex's pocket, and is mainly PR.....

I dont get why they surveyed the depth to bed rock if they are re-entering a well, that area would have already been previously prepared for a rig, and surface casings set, and formation logs studied probably giving depths to bedrock and other formations...... unless they want to avoid gravel pad costs and hope to set up heavy plant area on dirt... but I thought well pads had to be designed incase of contamination from drilling fliuds, so simply using unprepared ground unlikely

Mmmmmmmmm,, two delayed large

spread 8:06---8:17, ask 1:30 until 08:24 and buyers fee

18-Feb-26 08:06:59 1.235 500,000 Buy* 1.15 1.25 6,175 O

18-Feb-26 08:17:38 1.30 4,610 Buy* 1.20 1.30 59.93 O

--------------------------

18-Feb-26 08:09:46 1.24 2,633,024 Unknown* 1.15 1.25 32.65k O large buy followed by large sell below

-----------------------------

18-Feb-26 08:17:43 1.21 4,000,000 Unknown* 1.15 1.25 48.40k O

---------------------

Is this the 1st hint at a JV being signed ? Oct 2024 1.6ish , since then traded around 1.1+-0.1

mid 1.6ish Oct 2024, looks to be Gazelle related

December 12th:-· A proposal to farm-in to Block XX has been received and is under discussion. mid 1.25, hi mid 1.325

Today:- potential farm-in partner Block XX nearing completion, we are pushing to complete negotiations in short order. mid 1.2

Mmmmmmmmmm. not sure what to think....

Any thought on this creeping up over the next few days, and maybe fomo friday....

We could rephrase that line to start some very postive speculation ,,....although we could cast doubt first....  ;)

Discussions with one potential farm-in partner for Block XX are nearing completion and we are pushing to complete negotiations in short order.