Member Info for dai2belts

They will probably have just enough for max efficiency in respects of plants capacity...

I noticed they mentioned at Linda they stop short of Flat Head, ?

Drilling at Darwin #1 intersected target reservoir horizons high on structure compared to historic drilling to the west. This demonstrated that Rudyard is a much larger structure than anticipated and that the apex of the domal anticline is broader and further to the east than previously interpreted.

Surveying has commenced on the Company's next drilling location to be called Huntley #1. The Company intends to drill up to five production wells on the Rudyard structure in 2025,

Anyone figured out valuations

What do you think....

🛢️ Drilling & Well Status Overview (as of early 2025)

Well Status Notes

Darwin #1 Drilled & completed First well, core of reserve model

Weil #1 Already drilled (2012), to be acquired Helix intends to connect it; could double capacity; ~$300k purchase

Linda #1 Third production well (per 30 April update) Being drilled April; part of 2025 drilling plan

Inez #1 Scheduled as fourth production well Surveying completed; not yet drilled

Huntley #1 Fifth production well (planned, not yet started) Mentioned as target for 2025

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💰 Fundraise & Allocation

Announced: 23 January 2025

Gross Proceeds: ~£5 million

Use of Proceeds:

Install PSA plant & membrane unit

Drill 2 additional wells

General exploration & working capital

..........................

Key clue: “Subject to the Company acquiring Weil #1, the Company will have two production wells drilled and a third production well planned for April 2025.”

This implies:

Darwin + Weil = 2 production wells (Weil is already drilled and just needs hookup)

Linda = Sated as 3rd production well ( drilled with raised funds ?)

Inez = 4th production well (likely the second well covered by the same funding)

Huntley = outside current funding scope, likely needs future capital

===============

So

🔍 What’s Funded by the ~£5m Raise (Jan 2025):

✅ Hookup of Weil #1 (already drilled in 2012 — strong helium flow, to be connected)

✅ Drilling of Linda #1 (confirmed as 3rd production well, now complete)

✅ Drilling of Inez #1 (survey done, next in line as 4th production well)

✅ Installation of PSA processing plant

✅ Working capital & exploration

Weil’s acquisition (~$300k) appears to replace the cost of drilling a full new well, allowing Linda and Inez to be drilled with available funds.

⚠️ What’s Not Yet Funded:

❌ Huntley #1 (5th well mentioned, but likely requires new capital to proceed)

Does this look right

Nothing is ever clear with these companies...

A recent update shows plant and 3 wells, so with Darwin already drilled, the funding for plant commission and two wells completes that picture, leaving two more to be funded,,, but its far from clear,....

5 wells

So the correct sequence for drilling is:

Order maybe wrong

Darwin (done)

Linda (in progress)

Weil (up next)

Inez (after Weil)

Huntley (final well)

How they’re going to fund Wells 4 and 5. With the recent capital raise, they’ve covered some initial costs, but it looks like more funding will be needed to complete the drilling. Has anyone seen any updates from the company on how they plan to finance these upcoming wells?

Also, thinking about the potential impact of dilution—since there will likely be more raises before full production. What do you guys think? Does the stock price reflect the upside potential, or is there a lot of uncertainty still in play?

=============

The Placing and the Subscription have conditionally raised, in aggregate, gross proceeds of approximately £5 million pursuant to the placing of 29,570,000 Placing Shares and through the issue of 3,763,333 Subscription Shares ("together the "Capital Raising Shares").

Hannam & Partners, and Tavira acted as Co-lead bookrunners and joint brokers in connection with the Placing alongside Oak Securities and SI Capital. The Placing was conducted by way of an accelerated book build process.

Following the deduction of associated fees and expenses, the net proceeds receivable by the Company will be used principally to:

o Install and equip PSA Processing Plant and Membrane Unit at Rudyard.

o Fund the drilling of two additional production wells at Rudyard.

o The Company will also utilise any additional net proceeds to fund other exploration and resource definition work across the Company's projects and general working capital requirements.

https://www.lse.co.uk/rns/HEX/result-of-placing-and-subscription-oyflrl422n4xbd6.html

========================

I don't know, playing AIM exploration drills you don't have to consider all that stuff, just blue sky potential and FOMO..

When you compare AIM producers the valuations appear old to shot, unless you are an accountant..

And if the company should be worth £50m then how do we explain the downward trend moving closer to production, and the recent 12p lows.. At the moment Rudyard is going well//

What valuation do you see for HEX ?

I don't know thats why I am only watching, for me the drop to 12p for the 2nd time, and not clearly understanding why it got that low, or why its bounced off that price suggested I did'nt have a clue

Hex

What did the last update suggest to you ?

Https://www.lse.co.uk/research/SNDA/allenby-capital-sunda-energy-update-gxdzwzljyu7xaxw.html

The geological probability of success is put by Sunda at 100%.

Valuation Our Chuditch valuation methodology is unchanged from that used previously. The calculation is based on a price/boe quotient for the current stage of development applied to the resource base using GPOS (geological probability of success) risking. In determining the valuation/share we have used prospective diluted shares assuming conversion of the CLNs. Our valuation on the above basis is $290m or £223m. Using diluted shares of 35.4bn the latter translates into 0.63p/share against 0.57p/share previously. The upgrade mainly reflects an increase of $1/boe in the valuation quotients. This takes into account the significant element of de-risking that has taken place following the April 24 announcement establishing a clear path to near-term drilling. Partly offsetting this factor has been a sharp increase in the shares outstanding used in the calculation from 25.5bn to 35.4bn to reflect dilution related to the assumed conversion of the CLNs. Note, that the working interest in both calculations is unchanged at 30%. Previously we had assumed that a prospective farm-out would necessitate a reduction to this level. Our absolute success case net valuation is $823m based on $5.0/boe. This is an upgrade from the previous estimate of $683m owing to some adjustments to the resource base. We define success as a PFS (pre-feasibility study) that clearly shows viability.

Sunda Energy plc (SNDA.L) has made a momentous announcement concerning its world class Chuditch gas project, offshore Timor-Leste. Financing for the c. $35m Chuditch-2 appraisal well has been secured, a major achievement by a junior in the current circumstances. This has been achieved by a farm-out to Timor Gap, the Timor-Leste National Oil Company (NOC) and the issue of $9m convertible loan notes (CLNs) to three international institutional investors. Sunda Energy retains a significant 30% interest in the project and remains the operator. Securing finance will enable the drilling rig to be contracted and key supplies of materials and equipment to be acquired. Permitting is expected to be completed expeditiously, given Timor-Leste’s direct involvement in the Chuditch project. Sunda Energy plans to spud the appraisal well in July or August. Drilling and testing are scheduled to take 38 days. We think that preliminary well results might become available from August 2025.

The pump and dumps already started, PI or institutes ?

3 x CLN, there will be fighting between CLN providers, and PI collateral damage, and if a duster PI annihilation

Could be AIMs equivalent of a black hole

Sunda blunder death spiral loan or is it... Q3 thats a good date as I have no drills lined up..

Well yet again AEX might be drilling Chumba

You said:

buuurrrpp

......................

ChatGPT said:

A sign of deep market contemplation — or a successful liquidity event. 😄

Now that you're properly fueled, ready to get back to outsmarting those 40 stealthy traders?

Don't chase, you have 50% profit in your pocket from Zeph look after it until you have a sure bet..

Hex, Linda, being so close to Darwin has good odds of success, but has the price been pushed higher than results day, and why is it dropping now ?

https://invst.ly/1a9vtn

People seem to forget they did'nt get diluted for this drill or the previous drill..

Lucky it was not He1 managing this as their investors had to pay the price of their Tai well problems.. Unlike CHs enticing well bore investors with a share of production, He1 offered an enticing 80% discounted placing, wiping out their LTH

The other thing is instead of people taking small positions moving towards Aprils FDA approval, a multi bagger event to share went into a downtrend even after the funding risk was cleared, and there was no evidence of placing shares being dump to market.... That itself is a little unusual especially since there wasn't even a positive blip..

So the upside has been significantly increased, especially if the FDA review results in the de-novo process being extended