Member Info for G_G_G

Lots of +ve words, but we need some more evidence of the turnaround before we get a re-rate. Tough hold here, as it's a near certain £1 if they deliver on what they're saying or there's a t/o of some or all of our divisions. We really need another decent DIS win, or something from mgt in the coming weeks or months that further demonstrate that Comparison is successfully scaling, and Search is continuing to grow at pace. After everything with their monumental Shinez f@ck up, mgt cannot sit back and treat us like mushrooms.

ss, wtf are you on about? i've called the mgt team f@ck ups a million times at tig because they paid $35m for a dog in shinez, which has been their biggest mistake. legal action is on-going on that acquisition because they believe shinez has been dodgy, but that's what dd is for as far as i'm concerned. the sp over there got smashed because google fast-tracked a transition out of afd search. in other words, a black swan event that no-one saw coming. the shinez debacle is unforgivable for mgt, but not the reason for the 50% drop. as far as being f@ck ups go, calamity baay takes the cake. the number of b@ll**** claims. false or misleading statements. withholding information. acquisition f@ck ups. production f@ck ups. delays. the list goes on... so that's why the ceo at tig doesn't get a special name. because he's not as special as calamity baay. and no, i haven't sold out yet. i'll let you know when i do though, just as i did when i was accumulating. now go and tell your rainbow chasing friends to buy the next few weeks so i can expedite my transition out of this lifestyle company.

Yeah they never forget the Executive share options. Absolute f@cking joke given where the sp stands at the moment. Calamity Baay and his fat bod of f@ck ups better put their hands in their pockets in a big way if this gets back to 20p. It's the least they can do given the sheer level of incompetence displayed by them over the years and more so recently, and the impact it has had on investor wealth. It would also help to clear the overhang and support a new higher level. Given PB is a greasy charlatan, I'm willing to wager the usless pr!ck won't do a thing and will keep on taking his near $800k package. Or he'll make a 100k shares token purchase alongside the other freeloaders. Let's hope they can drill a hole properly in the coming weeks. If they f@ck it up then the 16p mega-raise level will be difficult to hit before Xmas.

Resurfacing from earlier for any learned posters to kindly reply.

1. i've only seen results for drill holes wcdd 001, 002, 011 & 012 - are there any results for 003 &004?

2. What are the expectations on some of the other holes? reasoning would be appreciated in any responses.

- from what i can tell holes 007 & 008 should be good due to their proximity to the above bonanza holes (001, 002, 011 & 012)

- but holes 009 & 010 are further away from this new big strike area - have any of the historical holes near these two been good?

- holes 005 & 006 look to be well out on their own- any reasons for this? expectations on these holes?

3. Has there been any work done on the munni munni project area? it looks as though this fault line is a treasure trove.

4. Anything else happening with han**** worth knowing?

5. What's the likelihood of a raise here? I see they have free carry on eh, and will likely jv han****. They can also sell their stake in WCE, but hopefully at 50-100% higher than the current value. Any reasons for them to do a raise? Realistic and not rose-tinted responses would be appreciated.

Stas did you make the Meetme? I couldn't attend - did he answer any of the following:

-What are the new wells designed to do i.e. will they be delineating the resource and act as future producers, or just delineation?

- What have they learned from the drilling approach to JS1 and JS2? The first wells used a fluid based drilling and didn't have the same blockage issues - are they going to return to this way of doing things?

- When will we hear about the He% & CO2% from JS1/2?

- Timeline moving forward for key milestones, in particular Resource Size and PEA?

- What are their ball-park costs for development? And what is their corresponding finance approach to development?

'Good try', what exactly are you referring to here? I haven't seen the answers to my q's in the RNSs - care to point me to the ones that have all those answers?

sorry one more question - what's the likelihood of a raise here? i see they have free carry on eh, and will likely jv han****. they can also sell their stake in wce, but hopefully at 50-100% higher than the current value. any reasons for them to do a raise? realistic and not rose tinted responses would be appreciated.

hi guys, i've been watching with interest this one- it looks quite exciting, even though i missed the first big jump. couple of questions -

1. i've only seen results for drill holes wcdd 001, 002, 011 & 012 - are there any results for 003 &004?

2. what are the expectations on some of the other holes? reasoning would be appreciated in any responses.

- from what i can tell holes 007 & 008 should be good due to their proximity to the above bonanza holes (001, 002, 011 & 012)

- but holes 009 & 010 are further away from this new big strike area - have any of the historical holes near these two been good?

- holes 005 & 006 look to be well out on their own- any reasons for this? expectations on these holes?

3. has there been any work done on the munni munni project area? it looks as though this fault line is a treasure trove.

4. anything else happening with han**** worth knowing?

appreciate any responses.

Re-watched the interview. Definitely some positives in there, but they really do need to show us that things are back on track. Unfortunately, I think that will be in the next 6 month set of results, unless we get some type of offer for some or all of the business. Disappointing the mgt team didn't release a statement around the Datix loss. Had they informed the market about how small the loss is in the grand scheme of things, and they have more than ,ade up for it in contract wins, then I think we would still be in the low to mid 60's. It's a lesson on market / investor information and expectation mgt.

Re the broker reports - The tax element is something I didn't expect, but it doesn't appear as though the brokers have taken into account the recurring cost savings. I'll be very disappointed if they haven;t knocked off another $10m in debt at the very least for H2. They need to go all out in getting the Debt / EBITDA ratio below 1 before investors sleep a little easier at night. All going according to plan, and I see us in the 80's in 6 months. If they can get another couple of contract wins or provide some +ve updates to the market on the way we may even get there before-hand.

Next 6 months needs to show:

- EBITDA range met, ideally midlevel achieved.

- Net Revenue to EBITDA conversion rate moving back to normal for Comparison and Search.

- Comparison top and bottom lines growing.

- Search / RSOC base continuing to grow at a high double-digit pace.

- Net Debt dropped by at least another $10m. Ideally the headline number will be in the high 70's, which would mean closer to 1 ratio with double-digit EBITDA growth in 2026.

Not sure if a bidder will appear before the next set of results. If they can pull off the above I do believe an offer next year will be forthcoming and need to be above £1 to go through. Kestrel of course could swoop in, but I still believe it will take an offer near £1 between now and the next set of results for it to go through.

Agree it's a very good deal, but it still needs to be signed, which is why the sp hasn't moved. All too often these things fall over in AIM listed companies, as those at TXP will attest.

What we really need are the He and CO2 %'s. This is what will provide a re-rate, alongside some great PR. Not sure how long it normally takes to get the lab results back...? It can't be too much longer though.

fair enough john, the future does read well. incredible to think with all those positives we are sitting at 15.25p with a **** ton of shares printed at 16p and 20.5p. goes to show how much of a negative impact that one line - 'management has been frustrating' - has had on the company.

the pricing point is the one i think most people are missing in their ramping. production gains are less important than raising the price on the total base production. even with some more f@cked up wells, the pricing contracts will be more than capable of covering up the shockingly poor leadership here. and that's why calamity baay and the fat bod will get to keep their cushy lifestyle jobs.

Ab76, what's you average out of interest?

Zero, we've been over this, and SM has vouched for my trades. SM has no reason to do so, as I often disagree with his rampy predictions and L2 commentary, but that's what a BB is for. You, on the other hand, claim to have more than 1m shares, which is beyond laughable for someone with the IQ of a gnat.

IWTO, agree this is the potential. Having said that, I'm concerned by:

1. Comparison top-line contracting when we have opened new markets. I think this is one of the very big questions they should have answered, alongside providing an expectation for H2 given they will have bedded in France, Italy and Spain, and just launched UK. If they have a solid platform for Revenue and Earnings growth from this part of the business - the jury is still out due to yesterday's results - then we could see a lot of action when the US comes online. The US market is the equivalent of adding all of the European markets together and then some. But I am concerned about whether they do have a solid platform after seeing the H1 numbers.

2. Search looks to be showing signs of springing to life. Again, the jury is still out until we see the H2 results. But, if we assume the H1 costs are a one-off and Net Revenue to EBITDA margin returns to baseline, then we should easily hit lower end of guidance on this alone. With some growth in DIS and Comparison we could end up around $65m (god willing).

3. Net debt is an anchor. Until we get it down to less than 1 x Adj EBITDA it will continue to be a drag on the sp and cause for concern to any would be acquirer. Hopefully they can knock $20m off of it end of year and we'll be near enough a 1 x ratio.

Overall we're doing ok with the future to be good.. Comparison is currently a spanner. Net Debt is $5m higher than I expected, however that's a knock-on effect of the Comparison business performance and higher H1 costs. All going well, an end result of +$60m EBITDA is a good launch pad for a 2026 re-rate. One would hope they could to get us comfortably above $75m EBITDA if Comparison is a true Net Revenue generator, and Search does as they say it will. By this time next year Net Debt (if focused on) should be circa $50m. At $75m EBITDA for 2026, and a £1 share price our pe ratio would be 4.41, and EV:EBITDA would be circa 5x.

We seem to be sitting on / around an EV:|EBITDA ration of 5 due to shaky earnings and high net debt. But if the debt drops to $50m by H2 next year, and we have two more halft year reports where they are meeting guidance, then we can expect a premium to that ratio and higher valuation. Fwiw on those numbers a sp of £1.25 would provide an EV:EBITDA ration of 6.

Any offer now I think will need to be £1. End of year all things going to plan it will need to be back up near the last offer price. Just depends on mgt executing now. AIMHO GLA

Very low volume today. Looks like we are going to be played for another 6 months between 55-75p, unless an offer lands. Michael needs to engage the market in between, or this is going to be a very long road to recovery.

It does indeed SS, I'll f@ck off for good when we hit the low 20's, which you think will be shortly after a successful hook-up of Casc 4 & 5. I disagree, and think the placee will start dumping their many millions of shares into the market before we get to 20p, but I'd happily be wrong on this point. Calamity Baay has all but guaranteed this share to be pegged to the low 20's for over a year. And that requires the gold-plated f@ck to not make a mess of anything else. This company is one failed drill away from staying in the teens for a very long time. Just watch.

SS, if we 'should quickly be in the 20's with a timely hook-up' then I'll be dumping 1m shares into the market. So do your best fellas.

Agree IWTO, but would have liked them to say what you have just mentioned in plain and simple terms. Did they say anything about Comparison top-line contraction and what to expect moving forward? This was the only other worrying thing for me.

Thanks IWTO, I thought that would be the case, given Search had the majority of redundancies. It would be good if he clearly stated this and that it's expected to be a one-off as a consequence.

I missed the presentation but got there for the question part. Did they say anything about Comparison Revenue going backwards? I expected this to be double-digit growth in line with the new markets coming online - France, Spain, and Italy. It's not like they are small markets as well. Quite an odd result unless our core markets have gone backwards significantly...? The lower Net Revenue to Adj EBITDA I understand is down to them being unprofitable initially, but not the top-line numbers going backwards doesn't make sense to me.

Also, I think PE ratio isn't the core one to use. They have laden the company with debt on a stupid post-Pandemic binge, like many other online companies. I think you need to look at EV:EBITDA to understand why it's a slow shift upwards. If they had meaningfully reduced debt i.e. by +$10m excluding BBs, then I think we would have seen some more upward movement. The problem is, it looks like we're going in the right direction, but the market will need to see more if they're to believe it. If they adequately addressed the far lower conversion of Net Revenue to Adj EBITDA and clearly stated this will bounce back due to cost savings flow through, then I think it would be far more clear that we will hit guidance and debt will be far more manageable.

They really did f@ck things up with Shinez. Our net debt would be equal to Adj EBITDA if they didn't buy that d@g. Feels like they are hiding behind 'legal reasons' in order to side-step their monumental mistake.

Responses welcome.

Agree that we haven't been given enough to go on, again. Instead, we need to trust this mgt team (quite the stretch), to deliver a minimum 40% increase to Adjusted EBITDA to get us to lower end guidance.

From what I can tell, they are saying Revenue and Net Revenue will increase in H2, but looking at H1 the glaring issues I see are as follows:

- Net Revenue conversion to Adj Ebita is what has killed us. It has dropped to 33% from 46.6%. To put this into perspective, if they converted at the same rate as H1 last year we would have Adj Ebitda @ $34m. That's half the upper guidance. What's the cause of this - see below.

- Comparison Revenue backslide - why? I thought this was in the bag for double-digit increase with the expansion to new markets? Also, Net Revenue conversion to Adj Ebitda has slid, making it a double whammy. Thoughts anyone?

- Search. The overall Net Revenue to EBITDA conversion is mostly down to Search. It has slide from 62.8% to 32.8% - Why is this? Is it a one-off? If not I don't see us hitting lower guidance unless Net Revenue increases by a significant margin across the board. Search is the culprit - what is the issue dragging down Net Revenue to Adj EBITDA conversion? If this is fixed in H2 then we should be fine for guidance, and reach upper end providing they grow topline Net Revenue as well.

Debt way too high. I'm disappointed by the level iut has been reduced, but this is largely due to the above problems. They most certainly need to focus on it moving forward. Another $10m in shareholder returns in H2 just won;t cut it. They need to grow Net Revenue, improve conversion (significantly), and use it to pay down at least $20m in debt. By year end we should have a Adj Ebitda to Net Debt ratio of about 1.2. Not great, but not a mess like it currently looks.

If there's a good reason for the Net Revenue to Adj EBITDA conversion being so low, and a one-off, then I can see us easily meeting full-year guidance, and being a healthy t/o target. If not, then I struggle to see how they will hit guidance, and it will be a much longer recovery. Acquisition in part, or whole (preferred) is the best option for all parties.

Thoughts welcome. AIMHO GLA

Thoughts welcome.

Issue with doing a placing of any size - the share price often drops to the placing price to keep the new entrants in place. I need to get some questions together for the upcoming presentation. We need some excellent He% & CO2% to move this back to the 30's.

Key things for me are 1. What are the new wells designed to do i.e. will they be delineating the resource and act as future producers, or just delineation? What have they learned from the drilling approach to JS1 and JS2? The first wells used a fluid based drilling and didn't have the same blockage issues - are they going to return to this way of doing things? When will we hear about the He% & CO2% from JS1/2? Timeline moving forward for key milestones, in particular Resource Size and PEA? What are their ball-park costs for development? And what is their corresponding finance approach to development?

We need some excellent % levels because if they're down nearer 1% for He, then we are going to be in for a bumpy ride.