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GOOD RNS.

In fact, it’s likely the strongest one Mendell Helium has released so far — far better than the earlier funding updates — because of what it implies, not just what it states.

Let’s break it down.

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🟢 Why This Is a VERY GOOD RNS

1. Over £500,000 secured in total

For a company with a ~£3.5M market cap, securing £513,000 is a major validation.

That level of capital:

• funds meaningful activity

• reduces immediate financial risk

• supports expansion

• shows investor confidence

The total raise is significant relative to the company’s size.

⸻

2. The CLN structure is clever — and shareholder-friendly

This is important.

The CLN means:

• the company can access £300,000 when needed, not immediately

• dilution is lower if conversion happens after AIM (at 4.5p, not 3p)

• Mendell only receives the money when it’s actually time to drill the next well

This is very smart for a microcap.

It means:

• no unnecessary dilution now

• access to guaranteed capital later

• better terms IF the share price is higher on AIM

This is one of the cleanest small-cap CLN structures you’ll see.

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3. Big operational implications: new wells and recompletions

This is HUGE:

• Advanced discussions to fund a NEW production well in Fort Dodge

That is real expansion.

• Agreement in principle to dewater and recomplete a disused well

Recompletion = fastest, cheapest path to new production.

This signals:

• local validation

• economic viability

• scaling potential

Fort Dodge is moving from a single-well proof-of-concept to a true multi-well growth opportunity.

⸻

4. Specialist engineers recommending enhancements

This means they’re being taken seriously by real industrial operators.

More importantly:

• higher purity helium = much higher value per load

• NGL capture = secondary revenue stream

Engineers recommending improvements is a form of professional validation.

⸻

5. Clear evidence of U.S. industry interest

This is extremely bullish.

Local operators don’t get involved unless:

• the geology is proven

• the economics are viable

• the methods are replicable

U.S. partners showing interest is the BEST operational signal a small UK-listed resource company can get.

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6. Very strong CEO commentary

Nick’s quote is confident, and rightly so:

• fundraising closed at >£0.5m

• rising interest from U.S. partners

• strong position to develop next wells

The tone is subtly bullish but grounded

Good luck tomorrow

Very positive

⸻

⭐ AGM Takeaways – What It Really Tells Us

The AGM comments paint a very clear picture: GEO is positioning itself as a multi-asset growth company, not a one-bet explorer. Omar repeatedly stressed that any one of GEO’s three assets has the potential to deliver significant shareholder value — and that’s a confident statement from a CEO who has already seen the core and understands the geology. The fact he emphasised “three exciting assets” is important: Juno, Gorge and PEL94 are all active, high-potential projects, giving GEO unusual diversification for an AIM microcap.

Hamza reinforced that the company is still in growth mode, always scanning for new opportunities but only adding top-tier assets, not filler. Azib underlined that the major risks to GEO are macro, not operational, which is exactly what you want to hear from a board — the internal parts (geology, management, finances, strategy) are strong; the uncontrollables are external.

⸻

🇦🇺 Gorge Project – Fast-Track Strategy

Omar made it clear that the plan is to repeat the Juno playbook: move fast, gather data, and prepare Gorge for drilling in 2026. Work is already underway. Newsflow is expected soon. This is important because it shows GEO will not be a “one-project quiet period” company — they are building continuous momentum.

⸻

🇳🇦 PEL 94 – Huge Signals Here

This was arguably the most revealing part of the AGM:

• Farm-out discussions involve “household name” major oil companies.

• Chevron moving into Walvis has supercharged interest in PEL 94.

• Omar even hinted he may have said “more than he should,” which is usually code for something material is happening behind the scenes.

• Hamza confirmed that Chevron’s entry into the basin is a major validation for GEO’s acreage.

• And critically: Omar explained that GEO only has to announce if the licence hasn’t been renewed — they haven’t announced that, and they continue working the asset — which implies PEL94 is active, and renewal is effectively confirmed.

This is extremely reassuring, especially for oil-side investors.

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⭐ What All This Means (The Real Read)

• The board is confident. Their language is measured but upbeat, and they repeatedly referenced the long-term value of their assets.

• The three-asset strategy is deliberate. Juno for near-term gold excitement, Gorge for the next wave, PEL94 for transformational oil upside.

• Very strong interest behind the scenes in PEL94 — including majors.

• GEO expects significant newsflow across all assets.

• Nothing at the AGM hinted at delays, problems, or negative developments.

If anything, the AGM felt like a company preparing for a major step-change period.

Https://youtu.be/Zjg9MTPvxZ8?si=baqu9-DxzSVOibyu

For 5k£ buy but 10k ok hmmmm

Hold tight imo

Hi all, here are my notes from the AGM. Apologies for any errors or omissions.

Brian Chu as Chairman

Omar, Hamza and Azib in attendance.

▶️INTRODUCTION from Omar:

JUNO:

Successfully intersected all the key geological units

Still expecting assay results this quarter.

GORGE:

Historical work shows exceptionally high-grade results e.g. up to 233g/T Au in soil along 5km of strike length. “Very excited” by the potential for Gorge.

PEL 94:

Farm-out ongoing

“Several” companies currently reviewing the data, with lots of new company interest. There has been an “influx” of NDAs being signed of late indicating that the momentum in the Walvis basin continues to grow.

Corporate / General:

A focus on disciplined cost management.

▶️ Q&A:

(Note: I’ve collated the discussion into GEO’s various projects, not the order in which the questions were actually asked during the meeting.)

🇦🇺 Juno (and some general points) :

The labs are very busy (there have been a number of consolidations between labs in the region recently, which may be affecting capacity / ability to process samples quickly). But, of note, several companies are experiencing delays in receiving the assays, it’s not just GEO.

Brian said that they hope to have assays in Q4, but it’s not within the company’s control.

However, Omar then stated that he’s spoken to Callum recently, and he’s “very confident” that the results will be out by the end of this quarter.

A question was asked as to why the assay results weren’t fast-tracked. Brian stated that both Callum and GEO decided that there was a cost-benefit balance to be sought and it was thought that fast-tracking the results would not add to shareholder value. He reiterated that the delay in getting assay results was affecting many companies, not just GEO.

Omar stated that the company’s firm intent is to make Juno a success. All the data to date led to the drilling campaign and the drills intersected exactly what Callum was expecting.

Note that Juno’s areal extent is pretty much the same as Paris, so it’s a pretty huge area to explore! Initial plan is to confirm mineralisation and then, in 2026, get into the “nitty-gritty” of the new drilling targets.

Brian then stated that, from what they saw when he and Callum were on site, they have “confidence” in the Juno project. Of note, he suggested that XRF was used on site but, as XRF cannot penetrate deep into the cores, such results are not always indicative of the formal lab assay results. He said that he “didn’t want to give false hopes” so it’s important to wait for the formal assay results. [Which suggested to me that the XRF data was positive! But this sounds, to me, like a very prudent and sensible approach.]

Regarding risks to the company over the next 12 months, Omar suggested that the company clearly cannot control exogenous macro factors, particularly commodity prices.

Omar noted

Tweeted by GEO Now

“ A strong step forward for #GEO💫

With Licence E08/3792 now granted, Juno grows to 644 km², securing our full strategic footprint over a highly prospective IRGS corridor.

This positions us well for the next stages of the Juno Project.”

Filtered

We’re super bullish. All we do is wait , pressure off imo

I suggest those who have not listened to the AGM to do so.

Billion pound company reiterated!!!

Unless funds are needed . Omar laid it on the line surrounded by others.

Pel is the back up Juno & Pel or just one alone is dreamland and he also mentioned no issues with cash

This is now a very strong buy imo

U kidding Omar is great

Its an excellent AGM , the oil sounds great too

I filtered weeks ago

freedom

Disagree Trek . Buisness rarely runs in a straight line . We are producing that’s key

Interview today I imagine

Saw that too . Lift of this week