Member Info for Hepseal

25th August:

The YELLOW public sale on @joinrepublic is officially closed. 🟡

We hit our $1M goal, SOLD OUT!

A huge thank you to everyone who joined us on this journey.

Prax14

The half year accounts may not be exciting but they will be OK.

Why?

Because Block have stated the forthcoming slim hole drilling program is being funded from existing cash resources.

Check out JVS presentation last night (first post on here today).

Confirms COIN,s strategy of purchasing BTC off the back of success with our Portfolio Investments.

Come on Yellow!!

Interim accounts 30th June are due by 30th Sept

Different views here on amount of CASH BALANCE ranging from circa £750k to a few million.

We all know how much has been raised and spent on BTC but the unknown is the Broker Fees, Legal costs, admin, salaries, expenses etc however having re-looked at the figures I am going to stick with my original suggestion that the cash balance is still in excess of £1M

As tbcx says, all should be revealed shortly in the interim accounts.

GLA

I actually posted ""cash which according to my calculations is in excess of £1M"" - I did use my words carefully. i.e."in excess of".

Immediately after the last btc purchase I believe we were probably nearer to £2M cash in the bank so I definitely don,t see any need whatsoever to sell any btc to fund fees, expenses, etc. I believe the cash balance both 30th June + present day will be quite healthy.

As tbcx pointed out, look forward to the interims shortly.

Original estimate for WR34 was $1,420,000

From RNS 13 May, 2025:

"As an early-stage investor, Coinsilium participated in Yellow’s strategic investment round with a US$200,000 investment under a SAFT structure in April 2022. While the precise quantum of tokens allocated under this agreement cannot yet be disclosed, we anticipate being in a position to provide further details following the official launch and token listing."

+ cash which according to my calculations is in excess of £1M

Other key holdings include:

@GreengageCo

@ssv_network

See previous post 3rd Sept re recent news.

You could have posted the following to give a balanced view:

"Upon approval, which is expected during Q4 2025 - Q1 2026, the Transaction Documents

will be executed by the parties and complete simultaneously, at which point the

transaction will become legally binding."

As PH correctly says, no absolute certainty that the transaction will complete, but IMO they appear pretty confident that it will.

Of course it is "jam tomorrow" - it is a farm out.

However, if a leading E & P company is prepared to invest several million pound's in the project I would not call that a non event.

Block Energy are probably not in a position to divulge further information at this stage as it is GOGL who are the lead negotiator in this farm out,

The XIQ licence is currently held by Georgia Oil and Gas Limited ("GOGL"); (68%, Operator),

Georgia Oil and Gas Corporation ("GOGC"); (22%)

Block Energy (10% with an option to increase to 22%)

Result of £10M fundraising @ 0.2p

"The net proceeds of the Fundraising will be used to acquire BTC and fund ongoing operations,

enhancing the Company’s capital allocation flexibility and providing a potential hedge against inflation,

in line with the Company’s mission to integrate AI innovation with a robust Bitcoin treasury strategy."

I am not saying buying ETH was a bad move but why have they not bought any BTC with the remaining £5M or informed the market of a change in strategy, and as ART 123 says, today's announcement seems a little odd.

Different project, the spud news is the slimhole drilling on Project 1

Bobbby - Careful what you wish for, we don't want any CCS projects on Licence X1Q where Block only have a minority stake.

Avi8r - How do you know the loan will not be renewed in February?

"Project IV refers to Block's exploration activities within its portfolio in Georgia. This includes the highly prospective XIQ licence (Block 10% with an option to increase to 22%), IX licence (Block 100%) and the XIH licence (Block has an option to acquire 22%)."

"The XIH licence, which is also subject to farmout discussions, is located immediately to the south of Block's existing XIB licence and covers an area of 486 km2. Seven structures have been identified within the XIH licence and DeGoyler MacNaughton (2023) ascribe a total of 485.7 MMboe of mean unrisked recoverable prospective resources."

Note XIH licence also subject to farmout discussions.

Interesting that the X!B licence (Project 111) is sandwiched between the X1Q licence to the North and the X1H licence to the South

Did a post here earlier before 7.00, just got back from walking dogs and hey ho, we have NEWS - EXCELLENT - GLA

Q. What happened to the original business model of re-entering existing wells with modern technology?

A. The Company is planning to spud a sidetrack in late September/October this year. The sidetrack will be the first use of directional 'slim hole' technology in Georgia.

Q, What happened to oil monetisation from old oil wells?

A. At current production rates of approximately 480 boepd (July average) and prevailing oil prices, the Company remains operationally cash-flow positive.

DYOR - You should try it!!