RE: Recovery plays9 Jan 2026 17:51
Gex, the guy cant be trusted....if you check the update history end of Dec '24 they claimed the hold up was permit and weather... but Mid 2025 audit revealed Jan there was not enough money to drill, so surely there was not enough money December.... ?
Now GEX need to issue a prospectus to raise funds which I assume will be committed to the JVs prioritises well...
Currently we have this hype about Halo funding Hussar, but do they have any funds.......
There are red flags all over that one..... if you want to play it wait for new lows.... but why risk such a bad share....
Take a look at EOG, huge overseas drill coming EG08, aiming end of 2026, but not sure I would pay 2p since its low on funds, may need to raise about £1-2m for EG 08, and has UK commitments .. Maybe Wressle work will be debt funded against production share, but cloughton thats an appraisal of a ancient poor performing explioration drill
QED,. have failed to get the sea trial going, I suspect the client is unsure they can supply the fuel feedstocks to supply their demand if trial was successful..New CEO talked about trials with a smaller shipping company... why would you if the big fish was still keen to get going???