Member Info for EbbsandFlows

Gas up 42% - shame we are still not producing

No absolutely nothing

Everything they have share today is a continuation of how they have treated us for years.

There is no trust left between them and us private investors.

I now want to be in control of my own investment destine, if I vote yes to this proposal, I am 100% sure in the not-too-distant future there is the real possibility my investment will be worth nothing.

If I Vote NO - It will be my decision to lose my investment but if enough of us vote no it brings down the whole Fing lot of them as well and they all lose their money and dont get to walk away intact before we all get screwed over by their actions.

Why all of a sudden?

On Aim it usually means one thing and one thing only.

We will see......

Do you plan to hold an online meeting to help create some form of trust and understanding from present shareholders before this large dilution goes through?

I have been invested here for many years and feel like you have done nothing but treat us with total contempt bordering on deceptions and lies.

To illustrate this point I have pulled out details from the companies RNS sent on the 3rd Dec 2024

“The Company is pleased to advise the providers of the Investor Loans, many of whom are also long-standing shareholders of the Company, have reiterated their ongoing support of the Company and its intention to repay these debts from both the proceeds of the subscription with the new strategic investor, Huo Investments (Pvt) Limited (the "Investor"), (pending publication of the prospectus to be approved by the FCA) ("Subscription") and forthcoming royalty income.”

Q - Why did this not happen and why have these long term shareholders now changed their minds?

“The Company's working capital position will be improved in the near future from the receipt of the balance of US$1m from the Subscription and an additional US$1m from the minimum royalty payment by the end of this month. Also, the Company expects to receive a further minimum royalty payment of US$1m around the end of Q1 2025. These funds amounting to a total of $3m (£2.4m) will principally be used to repay Investor Loans.”

Q - If the loans were not repaid, what has happened to this money?

“In addition, the Board expects to receive additional regular royalty income following the commencement of coal production at Muchesu with operations on site now active and the new plant now in the process of being ramped up.

The Board will continue to update shareholders on the production levels at Muchesu and royalties are paid one month in arrears.”

Q- Operations on site have now been active for 443 days, so how much have we mined and produced in that period?

Now fast forward to 13 Feb 2026, the long term shareholders are no longer supportive and want their money out, this feels very much like the inner circle getting to leave the ship before it hits the rocks with their money intact.

Q - As a private investor who has been ignored and at times misled why should I support this proposal when the company’s track record shows little respect for its small shareholders?

Thanks

I think it’s a lot of what you say - yes, the oil is there, but it’s unproven as a commercial venture. Until they are capable of crossing that bridge, this won’t change.

I also think it’s a good dollop of what Setanta mentions.

I’ve always felt like this is an iceberg - CH shows us a little bit of what’s above the waterline, smiles, and keeps waving encouragingly at us. Those photos last week on X are a prime example of this.

But the institutional investors have knowledge of what’s below the waterline, hidden from us, and that’s nowhere near as rosy as some want to believe.

Hence the big boys are not buying into the smiles and waves.

That’s not what I was getting at.

If the opportunity is that big and amazing, why hasn’t a US investment house taken a position in the shares, with a view to seeing them rise in price and selling later at a great profit?

Basically what we’re all doing here, but at an institutional size — e.g. 3%+ of the share capital.

Taking all of that at face value and agreeing with it.

Why do you think they haven’t secured any American institutional backing for such a seminal oil play?

When people go on about needing patients, I have produced a timeline of events to help illustrate how patient we have been. Some of us here were invested in Rose Petroleum.

9 years since the 3D seismic was completed and still not even a start date to production has been share with us.

3D seismic (Paradox / Utah)

Oct 2017 – 3D seismic survey completed over the Paradox acreage

State 16-2LN-CC

6 Jul 2021 – Update notes rig mobilisation and that Zephyr remains on track to spud before end of July

Late 2021 (reported 8 Dec 2021) – Company reports 23 days of production testing completed on State 16-2LN-CC.

State 36-2R (redrill / “twinned” well)

16 Apr 2024 – RNS: State 36-2R drilling operations update

6 Jun 2024 – RNS/coverage: drilling operations completed safely and successfully; well drilled to 10,290 ft (MD).

29 Aug 2024 – RNS: production test/evaluation nearing completion.

State 36-2 LNW-CC-R (extended lateral)

19 Jan 2025 – RNS: commencement of drilling operations on the extended lateral.

20 Feb 2025 – RNS: successful conclusion of drilling operations; total depth 15,288 ft (MD).

6 May 2025 – RNS: successful initial results from the production test on State 36-2 LNW-CC-R.

6 Oct 2025 – Updated Reserves & Resource Evaluation / CPR released (Sproule-ERCE), including comparisons back to the 2022 CPR.

Was it even an interview? I have six questions on the Paradox, but I will let you tick of those boxes - but then didn't ask a single question.

EG after all this time and coming up the years anniversary of a successful drill when will shareholders see you turn this into revenue generating production? Are we looking at Q1 2026, FH2026 or even longer? The one question we wanted asking.

No one wanted to know his views on the international events affecting oil e.g. the illegal abduction of a sitting president.

The cynical out there might even think those photos where shared to pump the share price up before the interviews so Colin could sit there and smile when Colonel Mustard said the share price was up 40% in a month.

Colin where do you see the business in 18 months’ time (around 23.45 of the interview)

1 - Substantial partner on board

2 - Increased Acreage

3 - Active drilling programme.

Then remembers he hasn't said anything about producing from the three wells and then start fluffing.

I like all the above, but if his thinking was aligned with most of us here, the first thing on that list would have been producing substantial income from our first three wells!

That was the biggest red flag to me of the interview.

Production feels as a far of as its always felt here.

I think we all worked out a long time ago we were going to end up feeling like we had been on Epstein island, but not as guest more as the eneteriment.

2) Rule 9 waivers exist for a reason (control without a takeover offer).

Normally, if someone crosses 30% of voting rights, they’d have to make a takeover offer to all shareholders (Rule 9). They’re asking shareholders/Panel to waive that. This isn’t automatically “bad” — it’s common in rescues/strategic placings — but it does mean control can consolidate without you getting a takeover premium offer.

I might be wrong, but how I read some of the very long document was that they were thinking about pivoting away from the CBD / Vape market altogether as its highly regulated and causes lots of compliance issues with the banks, digital software providers and advertising. For example, the main way to be found online is via Google search, but you cannot run a paid for advert using the Google Adwords system for a CBD site. You can also not promote and run adverts on Amazon.

Original the hype here was they were going to produce their own vapes and sell them via convenient stores in the USA. The business now is a million miles away from where a lot of people invested in.

That made me smile. I think we know we are both on the same side. Possibly even heading towards a pint together, when this comes good. But I am four years younger than you!

So why couldn't the company communicate all of that then? Surley a simple progress update presenation about 6 months ago could had covered that all off?

Crazy when you think about it and our situation.

https://oilprice.com/Latest-Energy-News/World-News/Freezing-Weather-Forces-the-Worlds-Top-LNG-Exporter-to-Import-Gas.html

Looks like the get to hide behind their favourite excuse of the weather again!