Member Info for NelsontheDog

Hi Darien

I believe CH is trying to get to a position to play to his strengths and excluding slow progress on paradox (not his strength) i would give him 8/10.

Paradox - Cane creek - partner out (its not CH or zephyr sweet spot)

Paradox - other reservoirs - explore drill (a hobby rather than Zephyr sweet spot)

Non Operated - absolutely sweet spot. Gaining a $100m fund that allows positions to be taken such as that announced today - absolute sweet spot and this type of finance to operator wheeler dealing is a great skill. Imagine if we get Zephyr to the point that they can do this with their own $100m fund - then Zephyr really will be cooking imo.

Of Satoshipay is reached. the 50% had already moved us to theretical control but now in early 2026, Blue will become the controlling say in Satoshi. As a long term holder I find that most welcome. Satoshi will be forced to make commercial decisions rather than cool development of the perfect moves.

Game changer in the medium to long term I think.

Agree Bottomsup. But none of these factors, delay, poor comms, positivity obfuscation and arrogance rather than humility are in any way new or a surprise. The best time to remove Leon was three years ago. The second best time is now.

I understand your position Papa. As you say, CH could take the money and run - then being of working age, he could find another vehicle to invest in to progress his wealth further - something in a field he knows about, something not reflecting its true value in the price and with further opportunity to develop value through investment - hang on - isnt that ZPHR as it sits now or even moreso as the rest of Zphr it sits with Cane Creek operational and reflected in the value?

So I suppose we are dependent on the life positions of our key investors / influencers of strategy - how ambitious versus conservative their outlook is - I am hoping for long-term ambition, you are suggesting a pragmatic banking of effort to date - time will tell. Nice position either way.

Yes it could sell quickly but at what price? Cane creek is one of 7 reservoirs on the same turf - I’d prefer jv partnerships to be conducted for cane creek with Zephyr then developing or at a minimum exploring the other reservoirs to add further value - otherwise selling very cheap imo.

Papa and the Kid - you

Clearly haven’t subscribed for the monthly subscriber golden RNS service with director cut wording. Me neither!

Well if this is as leaky as it seems I n the downside news, presumably today’s early rises are the same group buying back in ahead of positive Viura back on line news.

When there are 3rd party operators i suppose the leaks are inevitable

Well played India - they know the paper trail is damning so first challenge the overall process - at a minimum and of paramount interest to India it provides a delay - at best they have a chance to wriggle off a hook.

I agree the CPR should have a positive impact but I struggle as to the lack of development on Paradox after the recent drill in the meantime.

In my view CH and co have acted well so I find mself struggling as to why there isnt the next steps on getting to production being progressed and/or communicated.

The only thought I have is that CH wants Paradox to be developed in house and as such he wants the CPR to allow for Resource Based Lending to develop with no more dilutive impact to future oil flows. Even if we were in dialogue with potentail partners, I would expect immediate action on 36-2.

And it seems the market is equally perplexed, with the price of Zephyr lower than prior to the original drilling on 16, let alone 36-1 and 36-2. The alternate view is we are a busted flush and I simply dont believe that to be the case.

As much as a timeline would be nice - can anyone give typical news flow for an arbitration behind closed doors? Will our next news be win or lose or are there usually other updates along the way? Any knowledge shared would be appreciated - my first time arbitration.

If DugWalker is from Ashington, Northumberland, that's what he call his Dog anyhow.

Plain embarrassing now. I guess a renegotiation on pgm is underway and that copper is not rising as expected (read that both ways - Leon expected, most here expected a miss).

The jubilee way is to never mention it again, never issue a circular and never addresss its non arrival - it was all a Bobby Ewing dream sequence for us shareholders apart from we don’t get to wake up with Pam in the shower - out present is much less appealing.

Catching up - How are Peel and Primorus linked.

Blimey Antony,

I think you may be doing it wrong!

Good Luck

I think all agree with you PD.

I thought Banbury raised some good points on RBL this morning but to me that is the day to day issue avoided, albeit with a raise. Now Paradox.

After months of seeing it Papaduke, can you tell me what the D of your PD acronym is - Drill, Development? I keep thinking it’s the PB - Paradox Basin but I’ve reached the point of asking now.

BeardedDragon,

"Why now? Plenty of similar stocks around." - for me the answer to that is pedigree. These guys have been in this space a long time and seemingly doing this correctly. Trust, even if you think this is flash in the pan is very important. David Lenigas involved in one of the others - many meritous skills I am sure, but I have heard a lot of ex-investors in his companies seem to not like him anymore. Even the front runner, SWC is new to this space.

Coin has experience and pedigree.

Nice perky start to the day. Given BLU is still having breakfast before heading to the warm up track, its nice to see. If they follow up on the Treasury option that will be the move to the stadium so that we can accommodate all the ticket buyers - and readying fo the starters pistol. I am hoping for this to occur early next week -Hoping for a good seat in the grandstand given I got here so early.

Hi Ardbeggar,

Agree your post below on the position we find ourselves in. A good summary without stepping off the curb into the traffic of extrapolated opinions.

If you receive an offer for a part of the business, does that essentially add to the collateralisation of that product? I know that people assume the businesses were sperated so 1 could be sold, but the seperation in theory, and the addition of an offer, and the consistent steady output should make the SA business good collateral for a loan -loan could then fund Zambia?

Has Leon or anyone ever talked about this? For me this is an obvious alternative to selling and I hope as such it is addressed in the circular. Even if that addressing is simply to state its not possible because of xyz.

In regards to a bull run there certainly hasn’t been one. Alts have seemingly fully detached from Bitcoin where treasuries and etf’s backed by II is driving the run there - no excitement and I don’t expect drama anymore.

For alts, the chance of a run is then dependent on eth, but again the runs there - it’s seeing a rise of recent are driven by ii so probably won’t drop into big alts.

All a bit sad as retail seem to have gone but there is a small small chance of a run for alts but we are certainly at last bear level prices.

So the old model is broken, we await what will be the new one.

The last RNS on noting BTC treasury for me was interesting - if BLU go down this route and sentiment for treasury stocks remains near where it is now, this could be a very positive development in the medium term imo. Ive added on that speculation.