Member Info for Edgein

*Upgraded MRE suggested end of next month rather than this month*

Justone,

Will be interesting to hear your views from the AGM. Was just in the investormeets with Greg this morning, hope you made it to that too! Was an interesting discussion for sure. Sounds like the upgraded MRE could be out around the end of the month. Ambeon are helping on a number of fronts with the government which is certainly a positive that they are an active shareholder. Greg comes across as professional, thoroughly ticking off the boxes and working closely with the community. They'll be continuously doing phased as the project progresses so it all sounds really positive. Like the last update suggested they've debt and equity proposals for full funding. May accelerate the development after 6 months of production, also his comments on the development of the deeper resource sound interesting too as the country wants to establish the value of its various mineral resources.

Regards,

Ed.

Wac,

Thanks for posting that new interview link, lots going on with the final stages from the sounds of it. The bank funding sounds interesting as do the comments on the reduced capex. 60km strike length! 30+ years LoM, no wonder Greg has started to describe it as world class.

Regards,

Ed.

Interesting posts guys on the potential for a P50 Barracuda, be interesting to see the size and flow rate potential. Sounds like the reservoir is expected to be world class, multi Darcy permeability etc. Interesting to hear about the P10 (1.5Tcf) and P1 (2Tcf) potential too, I don't think previous presentations gave those. Its best to set the gas price closer to the African price for gas like Donal has rather than the very mature US gas price. Savannah Energy's gas price for Nigerian gas should be a closer comparison. No matter what metrics you use the upside for a £7m company is substantial. Licence extension, drilling permissions for UK and farmout all should be on the calendar near term (before year end fingers crossed). Permission for Cloughton could and should have a material impact on the share price too, not as punchy as EG-O8, but with potential up to 1000boepd per well net to EOG, high impact if it all goes to plan.

Regards,

Ed.

Agreed guys, thought there would be more volume today too after yesterday. Unfortunately the audience was probably made up of mostly holders and the link was in with the interim results. But the presentation yesterday has highlighted the significance in particular of Cloughton, its flowing potential, its scale from reservoirs and extent of the stacked reservoirs. 1000m+ of stacked reservoir potential under a 300m salt cap, flow rates of up to 15mmcfd potential, that's like an offshore well with onshore drilling and development costs. At 40% net that has company making potential, let alone EG and Ireland. So its not all about EG, Cloughton is catching up a bit on potential to the company. If I wasn't already fully loaded here I would have been adding more today. Personally I've now upped the value I see of the UK assets to 2p per share current, if Cloughton comes in towards that top end then at least 5p added to that. Not quite the 20p odd that EG could add but pretty tasty on 0.8p current price, if it comes in.

This one is way up my buy list if others come in to free up some more cash. I'm planning to hold all I have until at least end of 2026 or EG total depth.

Regards,

Ed.

Another key takeaway from today too is that EOG and the major both want to get drilling asap, already looking at rigs and long lead items. Can't sign a rig contract until farmout is complete. Multiple development options on success case.

Regards,

Ed.

Dai,

Well that was a super bullish presentation I thought and the guy talks a lot of sense about UK and Irish oil and gas and change in winds currently towards oil and gas sentiment. What I picked up on is first news is likely to be EG-08 extension that they are working on currently. Also drilling permisson likely Q4, potentially 3D seismic for Cloughton for Q4 also. Completion of farmout expected before year end. Wressle non-dilutive funding and lots of drilling on Cloughton, Wressle and EG-08 next year. Multiple news due before year end.

My biggest take away from that bullish presentation is that EG-08 is progressing well, Cloughton has the potential to do several Kboepd from the appraisal well and that we're generally as chap as chips. So its well worth signing up to see that presentation for those that missed it live.

Regards,

Ed.

Regards,

Ed.

Well guys and gals FID has reappeared again! Good progress being made right across the project, all sounds very professional with lots of community engagement. New expanded IMA due to the ongoing drill results and have applied for an additional ML. Lots of work done on the logistics and hydrogeology, I guess some of that is to aid the dredging plans in the future. Improved financials all look good. Was listening to a Sheffield resources presentation yesterday and they also export ilmenite and zircon concentrates to China (from Australia), so a similar set up planned here. Phase 1 for us will be an all in one concentrate. Sounds like progress being made on all fronts and still hoping to get FID done this year, Sheffield's presentation suggested high demand for these commodities so the offtake pricing etc could be interesting. Good that the company want to maintain momentum and will be interesting to hear the presentation next week.

Regards,

Ed.

Scaff.

Its certainly heading in the right direction from an operational perspective, hiring the necessary staff as you say and getting in house influence upon the Sri Lankan authorities (mining experience), even local celebrities. The Colombo listing of the subsidiary is a master stroke to make the company more Sri Lankan. Wage bill is going up, but also cash is looking strong now too and by all accounts FID seems to have been reached with the preparation of the final funding and construction due to start within months. We could be seeing production late next year and then be self funding. The upcoming resource upgrade will help get the story out there too.

Regards,

Ed.

SD,

Yeah a largely positive set of results, sounds as if they're gradually getting closer to an agreement with the major for the key asset. They also got some interest from the Irish assets too which is a bonus. Pretty much ready to go in the UK too, once the permisson comes in for Wressle and Cloughton etc. So largely positive if not yet transformational. Even the cash on hand is ok for June 2025. Hopefully get EG signed off before year end and then drill baby drill, fingers crossed.

Regards,

Ed.

Justone,

Yeah looks like a very impressive result so far. These holes are from the initial mining area and its now increased by around 300% from today's update. They are still drilling the extension holes. They're finding minerals sands now as far as 1.1km inland, the resource upgrade is going to be multiples and they're still drilling. Love Greg's world class description. Surprised we're only up a little bit today. I guess some are waiting for the listing in Colombo and for the resource upgrade itself when it comes. Its certainly primed with potential now, lots of new data to put into the new resource model that's for sure!

Regards,

Ed.

Stokie,

Good man! I'm fully loaded now too and looking forward to next Thursday.

Regards,

Ed.

Stokie,

Next week at presentation time it will be around 6 weeks since Will said this:

"The signing of these heads of terms is a very positive step forward and comes after an extensive period of negotiations with what we believe is an excellent partner."

They had already had extensive talks before August, so imo EG is likely to play a bigger role in the discussions than the current 100boepd or so. But lets wait and see what is included in the upcoming interim results. They must think there will be something to discuss, perhaps they're expecting W-2 permission before that. Not be long until we are several months from the HoT though. Fingers crossed it'll take the excitement up a notch as volumes are returning towards normal as those that are aware fill or have filled their boots.

Regards,

Ed.

Yes, he'll not want to go into too much more detail than what is going to be included in the upcoming interims, so nothing price sensitive. I've submitted a few questions so they'll hopefully be included in the interim statement. My questions were almost exclusively about EG. The interim results are more likely to be about the future as there's not too much exciting going on with Wressle as its an asset in decline. Wressle-2 could reverse that decline but hopefully EG will be well underway before W-2 or Cloughton. The major will likely want to hit the ground running as they'll be forking out the cash.

Regards,

Ed.

Scaff,

I'd say this isn't the easiest one to trade, volume tends to be low and look at the range this last 4-6 months, its really tight. Not worth the risk imo as they could get caught by a drilling update or the Sri Lankan listing that must be close now too. Also looking at the last RNS we seem to have moved from the FID to development! No mention of FID in here:

"Further to the 2 September 2025 announcement, Capital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Taprobane Minerals Project in Sri Lanka"

Regards,

Ed.

James,

Its out on youtube now it seems, interesting interview:

https://www.youtube.com/watch?v=hO0g2qk0Snk

Regards,

Ed.

Scaff,

Was thinking the very same thing. Big vote of confidence from both the Sri Lankans and Sheffield in this raise. It's put the company in a very strong position to see through the FID and project launch. The listing in Colombo and the resource upgrade should give us plenty of news between now and year end.

Regards,

Ed.

Teddy,

Only partially agree with your post. Sure now is the time if people want in early, low cap and only starting to drill. But what you say is true of a high risk early stage oil explorer. Where these guys differ is that its already a discovery over some area. Its more like appraisal or development drilling for an P&G company. For an O&G drilling development wells you would want to wait until the last well had been flow tested. Here imo we won't have to wait very long for assays and from the videos its about how much copper they contain, the don't have the expo risk of the likes of WSBN or GEO. With one rig there and another soon to arrive you won't have long before first drill results let alone first lab assays. They have already demonstrated lots of visial copper from their trenching so far.

Regards,

Ed.

Laura,

From what I can see from the TR1 it looks like they have went from around 6% to 12.6%. Likely to cover long spreads than to sell on, its a heck of a lot of shares in the hands of s spreadbet company.

Regards,

Ed.

I've only held this one about 6 weeks but have to say I really like the way they operate. Lots of social media to keep investors informed and the RNS are packed with all the relevant details that people need to make up their minds. The details of the advantages of the project etc from a commencement of drilling announcement for one. Thumbs up. You take those advantages of shallow drilling and you add a second rig and you get twice the fun.

Regards,

Ed.