Member Info for highlandmatt

Oops, don't know what happened there.

So, $2.4m received = £2m. Plus loan owed by EAG = £1.2m. Total = £3.2m

Market Cap is £3.6m.

So, $2.4m received = £2m.

Plus loan owed by EAG = £1.2m

"The head of operations appears to say they are currently measuring flow pressure and helium density. So they already have pressure."

Careful. It's a mudlogging unit, so it is monitoring the flow of drilling mud, not helium.

It's 8p and 10p we want...

Iechyd da to you and your family Welshspread.

With the sudden price action, I wonder if we'll get an RNS tomorrow morning?

The markets are trending lower. Most of my portfolio is red the last few weeks. Everything is going down without anything changing.

Not a chance in hell. 5m shares at 60p = £3m or $3.6m out of an available $4m. The priorities will be paying down the overdraft and getting the rigs drilling. However, I look forward learning in December the plan for capital allocation (debt, drilling, buy backs, dividends).

"If it dosn't then why not use the rig problem as an excuse to cut there losses stop the drilling and move on to the next drill site ?"

Because the rig is currently broken. Absolutely no point moving it.

4.15 paid. Are we on for a quick bounce?

"Needs to come out in another proactive interview and tell us why its taking 2 weeks!"

Look at a map. As previously advised, it's 1,000km to DES...https://x.com/Heliumone1/status/1707269872298660144?s=20

As this is quite understated, my fear is some might see the slight delay, but miss the hugely significant news. More gas than required for commercial CNG operations. Gas sold at the well head not after transportation (no fleet of trucks to be commissioned from USA). CNG financing to free up cash (as alluded to by GRH) for further drilling (Jurassic?).

My take (FWIW) is placing shares being off loaded by those that don't want to hold over the drill.

Https://www.proactiveinvestors.co.uk/companies/news/1028312/scirocco-energy-edges-closer-to-completion-of-ruvuma-sale-1028312.html

Suggest you start with reading Methodology's 'sleeping giant ' post on the PRD Reddit page. Basically a new gas basin.

Since we own 50% of EAG, and it owes us money, having additional funding coming in which isn't us, actually is a benefit.

Https://www.malcysblog.com/2023/09/core-finance-ceo-interview-paul-baay-touchstone-exploration/

Mk111 - yes, selling a percentage of the shares of the subsidiary is a lot quicker than changing the ownership of the Operator, as you wouldn't need as much (or any?) ministry approval.

We all bought in here to 'prove up and sell on', there have been ongoing discussions, NDAs signed. I would be flabbergasted if there were not continuing discussions about potential M&A with various prospective partners. It is just a question of when, and how much we have to spend to get to that point, and how much we get.

£400m according to LSE....

https://www.londonstockexchange.com/indices/ftse-250/constituents/table

Placement flippers are happy to take 5% in a week or two. If you've plonked out £100k, it's a tidy return on not doing very much, and you don't want to risk the principal.