RE: 30% GAS INCREASE?19 Feb 2026 13:12
Standard deramping from Mirasol and bubblebutt…..this RNS was never about declaring a permanent new baseline or pretending Saltfleetby has decades left it was about demonstrating that the wells were constrained and that low-cost, standard interventions can unlock meaningful incremental production……a 30% uplift from routine perforation clean-up and acid/solvent work is not marketing fluff — it is operational evidence that the asset still responds without heavy capex. The cautious wording around flowback and monitoring is exactly what you would expect from a company that understands regulatory discipline, not something trying to oversell a spike.
The repeated flowback/liquids argument is being overplayed. Flowback can inflate short-term rates, but it does not explain a coherent field-level response unless there was genuine near-wellbore impairment beforehand. Nor does it negate the point of the intervention: improving cash generation now, at minimal cost. Arguments about “twilight years” and Theddlethorpe are lazy analogies. This strategy is explicitly about maximising cash extraction with constrained spend, not pouring capital into diminishing returns. Whether the uplift moderates is secondary to the fact that the asset has proven it can still be optimised cheaply……On the finance side, the obsession with how long restructuring has taken misses the signal. If creditors wanted the asset, they would already have enforced especially after a missed instalment…Instead, discussions are ongoing and described as positive, with Saltfleetby clearly positioned as the underpinning cash engine. The going-concern wording is standard, mandatory language; the continued engagement is what matters. Historic cash burn reflects past distractions and poor capital allocation, not the current, narrowed focus. This RNS does what it needs to do: it strengthens the operational case for Saltfleetby and materially improves the company’s hand in negotiations, without pretending risks don’t exist.