RE: Related Party Transactions29 Nov 2025 07:53
CC - here’s my read on it, hope it helps.
1. Robert Price
He isn’t “running” 80M - but he is clearly an operator who gets stuff done, especially on the U.S. and industrial side. His footprint across JL, HV and the downstream pieces reflects that he’s execution-focused, something Bluejay / 80m had really lacked.
And importantly:
If RP wanted to take over 80M, he’s had years to do it - including when the share price was on the floor and it would’ve cost pennies.
What we’re seeing now is simply the natural intersection of:
• the U.S. capital markets route,
• the industrial gas/biofuels strategy,
• and the original White Flame - > Jameson history.
So yes, he's deeply involved - but because he’s a doer.
2. Rod / RM joining GE
RM joining the GE board isn’t a mystery - it’s actually quite standard. When you’re aligning a project with a U.S. listing, the upstream technical owner normally gets board representation.
3. Is a merger on the cards?
Too early to say. Anything is technically possible once the GE listing is completed, but right now the priority is getting the U.S. vehicle listed and getting the drills funded and turning. A merger would only make sense after drilling success and only if there’s a clear value uplift for 80M shareholders. At today’s valuation gap, GE would have to offer a meaningful premium - so again, not something imminent.
4. That confusing closing paragraph in the RNS
This bit: “employees shareholders contractors and directors of 80M may or may not participate in future raises” …is basically legal housekeeping.
It means for example: if Pelican / March / USFM raise capital later, people associated with 80M might invest, or might not, and 80M is simply disclosing that possibility upfront. It’s not a signal just standard AIM / MAR boilerplate to avoid any accusation that insiders weren’t transparent about potential cross-participation.
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