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It comes down to the complexity of the contract. Bo is clearly aiming for a long-term off-take agreement, which is what we want.

The company is still in the ramp-up phase and volumes (current wells or future) aren't 100% certain, I can imagine drafting this isn't straightforward. There will be lots of complex clauses covering performance metrics, volume and timeline guarantees, and break-out terms. Additionally, Bo was seeking a blend of longer term deals and selling into market - maybe this is not what the off takers want. Could imagine a 100% offtake agreement here, given it is not massive.

These things take time to get right, and lawyers are slow. Happy to get it right than get it fast.

For such fundamental news, it is a surprise to see little reaction in the market. Ultimately, many investors were not happy with the deal so are glad it is gone. However, it was not GEX that walked away, it was the other party - which is a concern. Full focus needs to turn to Hussar and get some momentum.

Still very odd to have a £3m mcap company that has $25m in funding agreed. The market clearly needing to see some proof and sign that the money is working for GEX.

Level 2 is only useful for hour by hour day trading, totally irrelevant for investments. Been involved long enough that can say for certainty level 2 means absolutely nothing.

I agree no need to panic. It is what it is and timelines are never fixed in stone. What you hope for though, is a board to under promise and over deliver. I feel we maybe have a bit of the opposite here and it doesn't work. Whatever small gain you get initially with short timeframes is soon more than wiped out in negative sentiment.

Said before that this is a high high risk investment and there is no point thinking otherwise. Prepare to lose all your money here, with the reward of a huge payout if there is success (even short term success). I am happy with that and I see this as the first stage of potentially losing the money. Of course, hoping for a turnaround but if it doesn't then it doesn't and we move on. Risk/reward is always priced correctly by the market in my opinion, hence the price here. It is not "cheap" or a "bargain", it is simply high very risk.

Surprised to read some feel communications have been poor. I've been invested in many companies over a very long time and the Comms here are just fine. Personally I think they have leaned too much into the Iran war for basically a non-producing company. Bo has given clear and comprehensive updates for the company. Plenty media, plenty X posts. Look at the share price performance, the market is obviously happy with the communication.

Tell the story, don't just tell fluff. I'm 100% behind HEX and the board, and I don't think any shareholder has any reason to be different.

So it seems like a signed drill rig update is now in abeyance, hopefully news on this very soon. Following this, we should expect an update that site prep works have begun. Finally, I believe we are waiting final sign off on the Mosman O&G deal. All items will be a benefit to the share price, however clouded with the upcoming agm on 20th (and dilution).

One to sell or hold in my opinion. If you hold, tuck them away and look again in a couple of months.

So what are next steps with Harlequin? Signing of the Joint Operating Agreement (JOA)?

How do we define fair value for Georgina Energy? A massive asset with high NAV in a market only going up and becoming more critical.

What is holding GEX back? ... Too slow? Poor management? Unclear deliverability? Too good to be true/ therefore not taken seriously? No belief that the funding is real?

These are genuine questions, I am heavily invested as my previous posts will clarify. I can clearly see why there is no premium at the moment, but I am at a loss as to why it is so negative.

I feel these questions can not be answered without a drill rig. The board needs to drill through the salt cap, prove up the theory that they are sitting on a massive helium field and then we move forward. Until then it is anyone's guess and it is a massive risk. High risk/ high reward. I am in, personally, but I also appreciate if others wouldn't want to be. Hopefully the board keep cash burn low in the meantime.

Without doubt the largest risk here is that HEX is bought over early. Some say the board being invested helps stave off that threat but the reality is the board make megabucks at any valuation above where it is currently. Been there before on success cases.

It does feel like HEX is on the trajectory to £250-400m mcap (this is a common zone for small cap mining/ energy stocks which is seen time and time again). The share price performance over the last 5 weeks has been great and is exactly what you want to see - no spikes, no dips, just a constant measured increase from 26 to 38p.

As others have mentioned, I too am way over exposed on HEX. It forms a significant part of my folio but at the same time, it is the stock I am most convinced off.

ART123 - I have similar thoughts. Seen so many aim companies build folios and in the end it is for nothing unless you are producing and earning. The board will say about NAV but again, once you reach a certain size of asset, extending beyond really makes no difference. You are talking 10-20 years down the line until that acreage will be required. I am not at all sure why the board would spend additional capital now on new licences, rather than proving up their already massive fields. I know the acquisition was end of last year but it doesn't seem well thought through.

No doubt now that the momentum has turned negative again. Will need some big news items to see the back of the single figure share price. It would be most beneficial for the drilling rig contract to be awarded in the next few days and show the board can deliver to their timescales.

In fairness, I think it is worth discussing about filling the trailer as I imagine most off-take agreements will likely happen after we have proof tested the product from production to delivery.

How long to fill one?

Strange price action yesterday. Didn't log in to see it as busy with work. The peaks and troughs are irrelevant really as the SP will continue to strengthen. I've been in two shares that topped the UK annual return chart and I feel HEX could make it a third this year. Volatility elsewhere will underpin the investment case here.

Exactly, the next leg up will be on the signing of an off-take agreement. I'm assuming the first contract will be a temporary rolling contract at some point between spot price and long term contract pricing, until higher levels of production are brought on board. I think this would take HEX into the 40's, as it is one thing saying you are producing, but an entirely different thing to actually sell physical barrels to a customer.

The stability of the share price between 25 and 30p over the course of last year speaks volumes for the company. Most other stocks would of tanked in that time but HEX is well backed and trusted.

Something not wanting GEX to go up. Might turn off again for a while, always seems to work.

Skippy - in fairness there was confusion on the delays which was creating uncertainty. The company has resolved the technical issue so I think it was correct to RNS, all be it a small one.

Look forward to this weeks.

HEX and GEX for me. More risk in GEX to be honest, but it is priced in. Success case there and it will make lots of people very wealthy. HEX much more secured investment with things ticking along very nicely and comfortably - I do not see HEX as a risk (beyond the usual risk any junior has).

I was part of the lithium rush and made good money there, and before that I was in the uranium rush (shows how long I've been doing this). I feel strongly on the Helium case right now.

Someone pop the champagne, we're above 30!!

I still find it remarkable and very encouraging how the sp held the high 20s so long on limited news flow.

Anyway, going to be an exciting ride from here on.

70p easily achievable when in production and 100% off-take is signed, which should be very soon.

Wow, unreal stuff - two lines jump out:

"BUY rating and target price of 46p per share, representing 5x current levels."

"20x the current share price in additional upside through progressive risk reduction and exploration conversion"

I truly believe GEX is going to be one of those stocks talked about in years to come, it will make millionaires. The catalyst being the incredibly low entry price we have been offered due to delay and associated market sentiment.