Member Info for Edgein

OBNW,

Agreed, Greg is making all the right moves, including adding national heroes to the board to keep everyone onside. A good move, easier to raise funds for Redgate too with celebrity promotion as well as his gov influence. Its all falling into place piece by piece at the moment even if the share price is slow to recover towards previous highs. Once they deliver and rebuild trust the share price should follow, having a resource many times higher than it was previously should help too (MRE before year end)!

Regards,

Ed.

Adnatrob,

Agree, I bought in here solely for EG. Its not only got scale its got AVO conformity that's among the best I've seen, in a geological region its hard to miss. While not counting chickens or spending the money yet, its a very good opportunity. I rarely stay in for expo wells these days, but this one I'll be keeping some exposure to. UK is fine to have some assets on the books and keep the lights on, reserves worth a decent chunk to a £5-7m company, but with EG potentially worth 20 times that or more its the potential company maker that EOG needed.

Its great to see the major energy companies in the area such as Chevron and ConocoPhilips, $50m is enormous to us, beer money to them.

Regards,

Ed.

Hi Treasures,

That's an interesting idea, possible, not heard it mentioned before. That could fund the future UK costs, so who knows.

Personally I would rather see the reverse though, sell the UK assets and buy a majority interest in Antler, perhaps even all of it while they may get it reasonably cheap. I still see the UK assets worth more than the current share price (EG and IRE free currently) and they're hopefully the only thing that needs funding (fingers crossed both EG and IRE end up free carried).

To get a major energy company to HoT stage let alone interested is very positive, so well done Will. Compare to the likes of SNDA who had a large gas asset and recently had to rely on a death spiral to fund it (their deal has since been cancelled). So it says a lot about the quality and more importantly scale of opportunity at EG. Its likely to be reflected in the price here at some time. A decent free carry and we'll be off to the races.

Regards,

Ed.

Itsawrap,

Personally not expecting a cash payment here too in addition to carry costs. If the well plan remains unchanged at $50m for the cluster well targeting 3 prospects then I'm hoping for well costs to be carried. Antler will hopefully retain as much as 40% interest, fingers crossed. Even if its 20% gov/55% major/25% Antler that's a lot of gas net to EOG (if successful). Could there be a back payment of seismic reprocessing costs, perhaps to Antler. I cannot see dividends from Antler to EOG until first production if we are that lucky, given the strength of seismic we might be. I'm planning to hold some to TD depending on the price between here and there.

Regards,

Ed.

FD,

It may be closer than you think. Will stated today that extensive discussions have already occurred with the major energy company. So I would assume that means full DD etc for the asset. These farmout talks have been ongoing for some time, they just need to see the details hammered out, these will likely remain under NDA until they reach agreement. Will knows how important this agreement is on what looks like their best asset. Even a modest agreement could be 200Bcf net Pmean to EOG, top side greater than 300Bcf. There was a period recently that enabled us to add on the cheap, it now looks like that has passed. With the major it may take a few more months for sure as they tend to move slower than the little guys, but it be an exciting period of watching for that crucial, potentially company making RNS as drilling is planned shortly after agreement. Its not a Kosmos situation. Kosmos isn't a major energy company either.

Regards,

Ed.

Good to see the addition of these two chaps to the board as NEDs. The company is getting more Sri Lankan influence in before the listing of Redgate, all coming together at last for CMET. Be interesting watching the rest of the year unfold.

Regards,

Ed.

Wow indeed, HoT signed with a major energy company! Very good news indeed, hopefully get full farmout agreement before year end. Not surprising really due to the quality of the opportunity at EG08. No surprises really that its taken this long when they're dealing with a major energy company.

Regards,

Ed.

MB,

Thanks for posting that new interview link. Makes for some interesting listening, especially the part about the dual production/exploration strategy given the current copper price.

Regards,

Ed.

The strong results continue with some more into the 60% area. Good to hear the significant expansion in the area that these layers are now found. Also I did initially buy in for the drilling and resource upgrade but its all starting to come together into a much more solid investment with the developments at Redgate and the local Sri Lankan investors.

I'm loving Greg's comments today:

"Results to date indicate a significant extension of mineralisation and potential for many multiples of the existing resource to be achievable in the initial mining area."

Looking forward to this resource upgrade before year end and more assays from the ongoing drilling.

Regards,

Ed.

JSL,

Thanks for posting that email response that you got for Will. Its certainly positive that the length of time its taking is down to them pushing for the best outcome for EOG. Hopefully they'll get it over the line soon as well as extension of the licence. The drilling is targeting 1.2Tcf of gas so even a net 10% to EOG could be a company maker (20mmboe). Will be interesting to read the comments on all these assets in the interim results, including the outlook for the UK onshore.

Regards,

Ed.

Seems like the ozzies are back buying again, I guess in anticipation of the upcoming drilling. The Big One recoveries RNS went pretty much unnoticed. Hopefully more attention will come in from the drilling campaign and assays.

Regards,

Ed.

Welcome aboard Sienna,

Looks like you timed it pretty well. Once approval comes in there should be a very busy period for TRP right through to TD and fingers crossed lots of formations to test. Getting the gov approval and then completing on the farmouts with Prime Global will be a material event for TRP and a green light. Imo eventful H2 in progress and its not going to be dull. There's a few more "interesting" characters on here though, makes the CRCL board seem fairly normal!

Regards,

Ed.

Jsl,

Absolutely, sentiment can change in an instant. Once the company can demonstrate how they'll pay for Cloughton, EG or even Wressle-2 the share price will change direction pretty quick. This news drought will end at some point, even those long awaited Irish assets might spring back to life at some point too.

Looks primed as a recovery play through H2, might not be all plain sailing but lets see. The small sale of Wressle production showed Will is not too keen on dilution at the moment, so hopefully we'll get a tie in with likes of Trafigura for any of their assets rather than fund Wressle through equity. A sale of our UK assets should bring in more than the current cap and significantly reduce CAPEX, but that again would depend on the strength of any deal for EG-08 (its the clear near term company maker if they can get it over the line on the right terms). TRP is 4-5 times higher than recent lows off the back of Cameroon, EG-08 is EOG's Cameroon equivalent.

Regards,

Ed.

Vern,

Hopefully there'll an update before then. We'll just have to wait and see. As you say Interims will have to update on all assets. Will certainly gave the impression that farmout and drilling were priority and would happen quickly for EG. Perhaps all will fall into place after licence extension. We're bound to get an August about Cloughton. I'm keeping adding in the mean time as these look like rock bottom at the moment.

Regards,

Ed.

Hopefully it will get approval in the near term. I would prefer to get an update on EG though and what stage they're at. Even if its we've applied for an extension and talks are progressing for the farmout. That would be fine for now, hopefully get that one over the line before year end.

Regards,

Ed.

Hi Luke,

All is good for sure. CRCL have been quiet, raising some cash ahead of their seismic campaign. TRP on the other hand are preparing to drill what looks like a transformational well in the near term and in the mean time about to close a game changing farmout (they are about 1-2 years ahead of CRCL at the moment). CRCL looks like one to tuck away for a bit. TRP are about to shine imo and that's without the deal closing for SA, if they agree on that, with as good a deal as they got for Cameroon and Namibia, it'll really take off. TRP is certainly gonna be grabbing my attention right trough to at least mid-November, exciting times for sure.

Regards,

Ed.

Nomad,

Perfect timing too!

"Day-rates for jack-up rigs in the region are now substantially lower than they were in early 2024 when we contracted for the Norve. In addition, we have been helped by the fact that a couple of our neighbours also require rigs for drilling campaigns to begin around the end of 2025. If we can use the same rig and some of the same services, we should be able to reduce the mobilisation and demobilisation costs associated with the well."

Regards,

Ed.

Chain,

Also look at those widths, the last resource was based on just 1.6m holes! Transformational for the company as Greg states, looking forward the resource upgrade here already! Drilling planned to continue so should be lots more news to come.

Regards,

Ed.

Kammy,

I wouldn't say that 0.03-0.4p is realistic. Prime are paying $19.3m in carry plus cash to get 42.5% of Njonji that makes TRP really oversold down here as we're still trading below that value. Let alone putting a value on the rest of the assets, 0.06-0.08 looks realistic and multiples of that if Njonji deeps come in or we get a good farmout for South Africa. A farmout of the quality of the Cameroon deal could imo easily double the share price here as it stands, partial back costs plus free carry etc. These should continue to creep up as we approach drilling from here. We'll get the odd spike too on approvals and rig mob and spud etc. Might even get a SA update mixed in too.

Regards,

Ed.

Leaky ship? Its oversold for sure, but I wonder if there is something behind this today.

Regards,

Ed.