Member Info for mike33

Malcy’s blog- today

Navitas ECO and Rockhopper news

Eco has announced that, further to the Company’s announcement on December 4, 2025, it has signed a definitive agreement to farm down a 37.5% working interest in Block 1 CBK offshore South Africa to Navitas Petroleum LP. The Agreement is a key milestone in Eco’s strategic framework agreement with Navitas which provided Navitas with an option to farm-in to Block 1 CBK.

The resulting ownership structure is therefore expected to be as follows:

Scenario

Eco

Navitas

Orange Basin Energies

Current pre-completion position

75.0%

0.0%

25.0%

Following completion of the Agreement

37.5%

37.5%

25.0%

If the Option Agreement is exercised in full and Navitas acquires 50% of the additional interest

47.5%

47.5%

5.0%

Navitas, a publicly traded partnership, is actively engaged in offshore oil and gas exploration and production, with a portfolio of established oil and gas assets primarily in North America (U.S. Gulf of America) and the South Atlantic (Falkland Islands). The partnership’s flagship production asset is the Shenandoah deepwater field in the U.S. Gulf, where Navitas holds a 49% WI and which reached first production in July 2025. Navitas has also demonstrated its ability to advance complex offshore developments efficiently toward first oil, achieving FID on the Sea Lion development in the Falkland Islands in December 2025.

Further good news from Rockhopper as the Sea Lion development remains on track despite the Gulf situation necessitating moving the FPSO work from the Middle East to Asia. The news about the second FPSO is even better, as CEO Sam Moody states, ‘We are equally excited at the prospect that the development of additional barrels might be accelerated with the signing of the MOU for a second FPSO giving the opportunity to add a further 125,000 barrels per day of production to the 55,000 barrels per day from the first two phases’.

Spectral, when I first saw the Philips report I posted last

week it was on top of this Philips consortium EU fined web site which has been detailing the whole history of the development of PCCT with Philips hardware and tech , including the development of new injectable mediums to work with photon counting, K-Edge from memory, so considerable £££ investment from a tier 1 deep pockets company, that commands 20 % of the CT global market.

The first thing you should notice there's been no updates since 2024....as if stalled or mothballed.

This concerned me.

A Philips multi year CZT supply contract I assumed was a large part of the 60 mil projected stated further rev plan.

This on top of the time it's taken Analogic to develop there CT to market..3 years and counting very soon.

This was said by kmk to be est a short period of dev effort before a product launch.

It just seems to me things here will take longer than most imagine.

https://www.spectralphotoncountingct.com/fr/page/publications

https://www.spectralphotoncountingct.com/fr/page/publications

Spectral photon-counting CT research - Philips https://share.google/eMvU6A4Hendc7pSHF

As promised....it's a long read...but the gist of is...yeas PCCT is fantastic but there is still work to be done..so WiP work in progress, and in the meantime time (we) Philips are concentrating on our proven Nano panel tech with enhanced AI....so we'll have to wait some more here.

The next incoming news should be from Analogic who have been developing enhanced CT with Kmks CZT and tech.

Also there is a Philips release I saw this week dated mid March which could be taken as a reply to this report, again I've had to read it a few times to try to take it in.

It's long winded content is in effect saying it's still all in development (pcct) with CZT and there are outstanding issues to be resolved. And our CT plan is the AI Spectral (non-czt) CT scanner just released and US certified 4 months ago.

I will post that link later as I'm on the hoof

Hi Spectral, I don't want to be picky but as many know on here Kmk already have a supply contract with Spectrum Dynamics, (so £ already in the mix) I think from memory 2 1/2 years ago...and far from being a random AI report it's a respectable medical site used by the medical industry to collate info from the 1000's of white papers and info published each year around the world. the lack of progress to commercialisation by Philips after I guess now 10 years of CZT photon counting developments has perpleked many I guess in the industry. Wanting to know what are Philips up to here. Which all kmk investors will be affected ted by I think.

PS- the links to the ref source info is on page 11 of the report, which you could read or any body else asking for Evidence.... unfortunately it all gels with my recent conclusions.about Philips and kmk supplied CZT...

Https://www.linkedin.com/posts/raddetectai_phillips-pcct-analysis-activity-7440071903211548674-4O2f

I've had to read this a number of times now to try to understand the content and it's not easy to check the info, but I follow the news about Philips and they had gone very quiet in CZT Photon Counting, so it's seems no Tier 1 contract from Philips for now?

TECHNICAL REPORT

Why Philips Chose Not to Commercialize

Photon-Counting CT:

A Technical Analysis of Strategic, Material, and Engineering Factors

Rad Detect AI - Radiation Detection & Photon-Counting Detector Consulting

www.rad-ai.org

March 2026

(First Paragraph of 11 page doc)

Executive Summary

Philips Healthcare developed a fully functional spectral photon-counting CT (SPCCT) prototype based on cadmium zinc telluride (CZT) detectors, demonstrating impressive clinical results in cardiac, vascular, and thoracic imaging. Despite this technical achievement, Philips made a strategic decision not to commercialize this technology, instead doubling down on their dual-layer spectral detector platform (IQon, Spectral CT 7500, and now Verida).

This report examines the technical, material science, manufacturing, and commercial factors behind this decision. The analysis draws on published clinical research, Philips' own statements, and fundamental physics of CZT-based photon-counting detectors to provide a balanced perspective on why a company with a working prototype chose an alternative path.

Key finding: The decision was not primarily about whether photon-counting CT works - it clearly does. Rather, it reflects the practical challenges of manufacturing CZT detectors at clinical CT scale, the maturity and proven track record of Philips' existing dual-layer spectral technology, and a calculated assessment that the incremental clinical benefit of photon-counting may not justify the added complexity and cost for most clinical workflows.

Published Date: December 18, 2025

New Zealand-based MARS Bioimaging has reached a major milestone in its global expansion, announcing the sale of its advanced spectral photon-counting CT scanner to Charles University in Prague, one of Europe’s oldest and most respected academic institutions.

This CZT based Photon Counting limb CT product has been in development for many years and now gained all the cert and approvals for sale worldwide.

MARS Bioimaging Expands to Europe with Installation of Groundbreaking Color CT Scanner at Charles University | Applied Radiology https://share.google/ymYCWumMp87fiHXmu

Https://med-techinsights.com/2026/01/15/mars-bioimaging-raises-15m-for-photon-counting-ct-scanners/

The company will use the new funding to accelerate the commercial adoption of its spectral photon-counting CT scanners, which deliver 3D color imaging with advanced material differentiation in key markets including the U.S., New Zealand, and select emerging markets such as India, Mars said.

Excellent article for anyone wanting to understand what they've invested with KmK and the direction of travel with CT imaging. and where the OEMs are placed.

https://www.sciencedirect.com/science/article/pii/S2211568424001955?__cf_chl_tk=VwCOMZMS.Osmr7TRykMjkBsWdoJ4rvH3bGv1bsShNyI-1767964011-1.0.1.1-4Az7yWl1XTGkHr6mLge.7p6hXpu3_Mey8Fh6rg4hSBA

Applied Radiology https://share.google/cJaFj27GdqvCvWdR1

"Photon-counting CT is no longer a future promise at RSNA 2025—it is emerging as the next major evolution in CT imaging, with maturing technology, expanding clinical evidence, and increasing operational readiness positioning it for broader adoption."

Linkedin CV info, very encouraging stuff and a year or so after he joined Analogic they chose Kromek to design and work with Thier next generation of medical CT products.

Let's hope for some.news soon.

Experience

Analogic Graphic

Head of Advanced Development, Medical Imaging

Analogic

Jan 2022 - Present 3 years 11 months

Peabody, Massachusetts, United States

At Analogic Corporation, I lead advanced development projects centered on cutting-edge medical and security CT imaging technologies. My responsibilities include:

- Leading a team of engineers and scientists dedicated to pioneering new advancements in imaging technology.

- Overseeing the development of photon counting CT and PET detectors to significantly enhance imaging capabilities.

Https://share.google/cxn9An4ttMi57wHGv

Philips web page for the event for ref

Or maybe a few have realised it's the big RSNA radiology conf show in Chicago soon and most of Kmks future customers are there.

.https://rsna2025.mapyourshow.com/8_0/exhibitor/exhibitor-details.cfm?exhid=00342137

eg Analogic have 2 booths and are listed as CT and breast imaging...Analogic don't/haven't got a specific. Breast imaging product at the moment, unless someone knows different, it might be a typo...but they're been busy for 2 + years now upgrading Thier whole product range

Director and management buys are always good. and maybe the rise was due to that alone..

.o

On October 31, 2025, Matthew Boyle, a Non-executive Director of Kromek Group PLC, purchased 285,000 ordinary shares of 1p each in the Company at a price of 6.74p per share. Following this transaction, Mr. Boyle now holds a total of 285,000 Ordinary Shares, representing 0.04% of the company's issued share capital. The purchase was executed on the London Stock Exchange.

What Is Photon-Counting CT — and How It Could Change the Way You’re Diagnosed

News

September 23, 2025

https://www.columbiaradiology.org/news/what-photon-counting-ct-and-how-it-could-change-way-youre-diagnosed

good article on PC CT and it's just starting to be adopted, many 1000's of hospitals will no doubt replace Thier old CT scanners over the coming months and years

Moneyweek

'As noted in the main story above, Kromek Group (Aim: KMK) was originally spun out of Durham University by Arnab Basu. The company specialises in making radiation detectors that use cadmium zinc telluride (CZT) semiconductors for use in medicine and security. The company has already secured contracts with GE, Siemens, Philips and Canon, and with the help of funding from the US and UK governments, it is developing devices to detect biological pathogens. The stock trades at 18 times expected 2026 earnings. With revenue more than doubling between 2020 and 2025, that looks like good value.'

Https://www.marsbioimaging.com/

Updated mars imaging site with front and center Photon counting Info using Kromeks CZT I think as they are mentioned on every Kmk presentation I've seen.

But a another shy customer sadly..