Member Info for highlandmatt

Operational Update

Carapal Ridge 3 (CR-3)

Since commencing production, the CR-3 well has delivered stable gross production rates of approximately 2.2 MMcf/d of natural gas and 14 bbls/d of condensate. Based on current well performance and flowing parameters, the well appears to be experiencing an inflow restriction. To optimize performance, the Company is awaiting the availability of equipment to complete a coiled tubing cleanout and acid stimulation aimed at enhancing reservoir inflow and well productivity.

Revenue up, funds flow up, capex $3m+. Debt down, but net debt up, so still spending more than earning.

Mcap £30m, debt £60m, cash say £8m, so around £80m.

Don't know about 1947 / Renaissance.

Watch for announcements about energy storage?

A comparison transaction. $65m / £48m for 3k boepd shallow offshore. Probably gets better pricing.

1947 Oil & Gas* (private): Targets AIM IPO later this Summer

• 1947 announced that it has commenced the process of applying for admission of its shares to trading on the London Stock Exchange’s AIM market, which is expected to occur in Summer 2026.

• The Company has closed an oversubscribed pre-IPO fundraise of £7m, which was supported by UK, US and Canadian institutional investors, including Wexford Capital and RAB Capital, alongside large single-family offices.

• The net proceeds of the IPO will be used towards the total consideration of $65m for Renaissance Offshore LLC (private), which currently produces 3kboe/d in shallow waters in the Gulf of America.

• 1947 targets increasing production from the Renaissance portfolio to over 4kboe/d in 2027, with a strategy to roll-up further mature conventional oil-weighted assets, specifically in the Gulf of America and along the US Gulf Coast.

425m shares. $100m would be small change to a big pharma company. I was in Genmark when Roche bought it for $1.8bn. $100m = £75m or 17.6p a share. Very feasible in my view.

Have you not been reading the reasoning below?

Https://x.com/CizzleBio/status/2053973510767132746?s=20

Still 'coming soon'.

NT to buy.

Having said that, the 3.35 one looks like a delayed buy from 9.09am? MMs playing games with late reporting?

Equally some big sells going through.

If you can drop both in to MS Word there is a 'blackline' review option to compare two documents and highlight the differences.

Received 5:33pm.

Only at the weekend 😜

Received by email from Tim at Flagstaff. Officially sanctioned by PRD? Interesting! 🤔

It will only drag if he sells. The dilution is 7% so factored in already. Extra £400k on the balance sheet.

Happy if this drops a bit more - I want to buy more.

And remember, the purpose of the RNS was just financial results to 31 Dec 25, so by definition backward looking.

No, a ratchet deal increases the ownership (or right to buy) based on targets being hit. So if Mou6 is a success, the counterparty may be entitled to buy a certain extra percentage at a certain price.

Gudin - O&G companies do declare dusters, usually by stating 'plugged and abandoned'. None of the PRD wells have been P&A'ed.