Member Info for Magnatek

This isn't an exploration company; it's a salary-support vehicle. They are diluting you to 0.0001p just to keep their office lights on. Don't be the exit liquidity for the board's next "remuneration" dump

Notice how the directors never buy shares with their own cash?

They only "buy" when they swap their "unpaid salary" for shares at 0.13p.

Think about it: If they actually believed in a move to UP, they would be mortgaging their houses to buy at these levels. Instead, they just print more paper for themselves and extend their personal warrants to 2029.

The Namibia "Farm-Out" Mirage

They have been "in discussions" for the Namibia farm-out since 2024. It is now February 2026.

The Lie: They keep opening the "data room" to new parties to keep the hope alive.

The Reality: If the asset was actually worth 4.3 billion barrels, a major would have snapped it up years ago. The "extension" of the deadline to 2026 is just a way to keep the directors' salaries flowing while they wait for a miracle that isn't coming

Every time the price shows a spark of life, the board dumps millions of new shares (like the 196M salary-swap last week) to pay their own bills. They are treating the LSE like a private ATM.

You can be positive on this,only if you are not right in your head.

They are diluting you to keep the lights on. They need a Namibia Farm-out "miracle" just to survive the next 6 months. If that deal doesn't land soon, expect another massive "emergency" placing that will dump the price even further.

If they really believed in 1p, they'd buy on the open market with their own cash, not print free paper from the company printer

The board is printing shares to pay themselves because the cash is gone. They've created a massive supply wall at 0.13p. They don't need a moonshot; they win if it just hits 0.30p. Retail is being diluted to save the board's paycheck.

Probably institution.

Management is playing a high-stakes game. They have stripped the company of cash obligations and loaded it with equity incentives. They are basically saying: "We will either make this company worth 3x what it is today, or we will own a huge percentage of a company worth zero."

More New Shares=dillution. Fu*** Omar and all the board.

What did I told you yesterday? 🤬🤬🤬

They have 2.03 billion shares left in the "allowance bucket" that they can print and sell (or trade for projects) before they have to stop and ask shareholders for permission again.

I can smell another dillution. Hopefully I am wrong.

why the fk we talking gold when we have ****?

This stock was listed at 1.40£ as I remember. This should be the minimum price.

The licence is currently in a transition into its Second Renewal Period. While the First Renewal Period ended in September 2025, GEO Exploration has remained in "good standing" with the Namibian Ministry of Mines and Energy.

Current Extension: The company is operating under the expectation of the next two-year renewal block, which would extend the licence to September 2027.

Recent Funding: In December 2025, GEO Exploration completed a capital raise specifically to fund "PEL 94 farm-out and related transaction activities" through 2026. This confirms the licence remains active and valid.

Why the Licence is Still Valid

The Namibian government typically allows companies to progress if they are meeting work commitments or are in active negotiations. GEO Exploration is currently in a strong position because:

Major Resource Upgrade (May 2025): An independent evaluation boosted the estimated prospective resources to 4.31 billion barrels, making the block much more attractive to potential partners.

Active Farm-out: As of January 2026, the company is in late-stage discussions with potential deep-water operators to partner for a drilling campaign.

Regional Success: Nearby activity (like the Mopane discovery and Chevron's entry into PEL 82) has kept interest in the Walvis Basin high, supporting the extension of exploration terms.

What to Watch in 2026

The "next big move" for GEO is the Farm-out Agreement. Because drilling in 750m+ water depth is extremely expensive, GEO (with their 78% interest) needs a "Big Oil" partner (like a Chevron or TotalEnergies) to pay for the well.

The company raised capital in late 2025 specifically to keep the lights on and the data room open while they finalize this deal. If they sign a partner in the first half of 2026, we could see a firm drilling date set for late 2026 or 2027.

HOPEFULLY

My average is 0.07 :)

Omar will ruin any hope left.You will see.

Are you from the North East England?

I only have 5 million shares.Keep holding.