Member Info for OrangeMoon

"Wishbone to me has always been about the Red Setter Dome. If they hit it in this next phase of drilling - Watch out! And now they know where to drill... All the other drilling was basically off the main target..." DL. (1p easy, 4p average grade, 8p high grade/bonanza grade) **A 2nd go** could well make out for a great discovery story.

Need to hear from RP regarding 'starting APEX site clearance and rig mobilisation at red-setter'...

Any day now RP...

A short summary:

Aside from RP's damning reputation, with all the additional analysis carried out since the 3km strike identified... WSBN will be extending 2 holes, hopefully reaching a 'Telfer like' dome structure, 500m deep target. A long time coming.

Rough calcs at this Mcap say it's worth some pocket money. Hitting a tier 1 strike with todays gold price would make 10x look cheap. RP needs some new PR.

Richard Pouldens reputation precedes him, that much is clear. Seems he has been going off the 'Telfer like dome' narrative for quite a while...

With new data on the market and analysis carried out, can you imagine the turn around in opinion if he turns out to be correct??... "Just didn't go deep enough..." Wow.

At this Mcap, I'd say it's worth a shot. A Telfer style 'hit' and the last few years of anguish for shareholders will be all but forgotten.

Regarding Linda #1 well Souris and Red River formations: (with respect to expected pressures/flow rates in the well) Now that the intersection has come in 'higher than anticipated...'

I would expect that this means that the structure is bigger at this point (being higher AND lower... and not just higher)... however Bo stated that "if Linda came in higher, then it might need some additional compression."

This was a point raised in the AGM with regards to additional funding... I mentioned it a few days ago, wondering if anyone else has some thoughts?...

I would expect the same pressures/flow as Darwin#1 (or greater) due to the above higher and lower description. I'm sure Bo would be able to clarify what he meant by this, any other thoughts?...

HEX are doing a great job of securing the Helium payload.

Side projects such as Hydrogen & Oil are great additions and clearly raising some interest within the sector, Bo stating many times that there is interest within these plays and in talks with various partners regarding these prospectives.

HEX have no issues going for the Helium alone, however it would be better to hear of any potential JV or Partner to go after the bonus projects to take away the cash risk involved at this stage.

Glad to see HEX sticking to the critical path and I belive that this was the reasoning behind deffering flathead in Linda (Not wanting to effect the main line of cash generation for a speculative play).

Lordloadsoflolly, let's hope that Linda comes back as expected (or better) for Helium. Free flow is what we aim for.

The bonus of any Hydrogen found in Linda will do wonders for the SP and speculation will rise for the subsequent return to Ingomar.

It's my belief waivers for the broken covenants will get extended on a monthly basis until FY24 results produced.

This is really the only thing that matters at this time, without the extension the company will become a liability (as Icecool has stated).

Sidara have posed a viable 'option' to buy Woodgroup, with some self-assistance via the £450M injection to allow the lenders some breathing space and continue the debt.

The problem is that Sidara have been privy to information that not everyone else has been privy too, so why should they be trusted, they are the preditor here after all. It seems ii's would all rather take their chances after seeing the true value through FY24 and make a decision then.

Woodgroups recommendation to accept the bid was a pre-condition to any bid being put forward, so without them stating 'minded to accept' we wouldn't be having any conversation or know of any other pre-conditions.

I'll be holding throughout suspension, my estimated duration is between 1-2 months. Happy to hold this through to the end (exposure + accountability required) and if rights issue is to be done, let's hope the FY24 gives better valuation than our current 'unknown' Mcap.

I'll reffer back to this post in future as some form of reflection, I may be right, I may be wrong - best guesses are all we currently have.

Thanks IHNC... I was way of the mark. I guess samples are not required but instead flow rates due to already knowing we have helium within Rudyard dome.

With regards to funds/additional raise... This was within the AGM presentation (1 month ago) "if the Linda #1 comes in much higher than anticipated, it might require more compression"...

Other than that, we must wait and see.

Glad that HEX are going after potential Hydrogen in Rudyard, these results should give more data when going back to Ingomar again.

Looking forward to results here with regards to this play. I've not seen any expectation of results due date as yet, I would put this as next week best guess (Comencing 28.04.25) , however happy to hear other views...

I recall on one of the interviews (with regards to funding when we raised at a premium 15p) that Bo suggested Linda 'might' need mechanical intervention for the helium due to being further up the dome (In turn, may need some funds for the system)... Is this right or have I mistaken this?, I can't quite find the interview which it was suggested, although will keep searching...

I agree Bob, exposure is what is required here. As they say - 'All will come out in the wash'... Unless a bid is accpeted, in which case, the laundry stays dirty and a new buyer can discard the unwanted items, or cover them up, which might be more accurate.

Update on waiver extensions are needed > before the 30th April. EGM Required.

As per 'offer update RNS' - Lenders be playing hard ball which falls into Sidaras hands... however declining SP relates to investors wanting to see if lenders have got the balls to pull the plug first. Investors want more clarity. This 'offer' may suit 'Lenders', the 'BoD' and 'Sidara', but nothing is clear to Investors. So looks like they will play it out until cards are shown.

Waivers may be extended with or without Sidaras help. It just depends on the appetite of lenders IMO.

To benifit 'everyone' (including investors) Sidara should allow their first traunch of liquidity to allow for extension of waivers until after FY24 is released without conditions, this would show a form of respect to any deal being accpeted by investors.

Other than that, In my view, we will be going for option 2. Which includes new BoD, fresh liquidity and exposing the BoD for who they really are - Charlatans.

I agree.

We need full disclosure from accounts FY24. The board needs sacked and a turn around carried out on what-ever terms new leadership can bargin for with lenders.

Time for the board to face up to their misdeeds instead of begging for saviour - at our expense.

BD - "Sources of new capital could include a substantial issue of new equity, significant disposals or a combination of both."

This is option 2. It's the boards least favourable, but it's still an option.

SP looks to be setting up for Option 2.

Quite frankly, this looks like least corrupt option at this point in time IMO.

Ken and the board will have to face up to their misdeeds, and if anything is seriously wrong, which it currently looks like, then they will face the consequences.

One of which will have him out of a job, and rightly so.

An extension to the take-over panel will be requested by Woodgroup. There are 2 conditions in the pre-offer that will not be complete by the 17th April.

The main concern is whether the lenders provide the further waivers and required mods. to the debt.

I'd rather we all see the FY24 accounts prior to making a decision to accept. There are too many assumptions being made currently with respect to how bad things are and the board haven't been honest for the last 2 years, so not going to take their word for it now.

Ken should be forced to resign. 35p is a joke and stinks of self preservation.

I'd like to see our other finance options and take our chances, other than sell to Sidara for cost price. It might be the BoDs only way out but would like to see if it is ours.

New leadership required. With more credibility. How the hell did this clown end up in charge of Woodgroup.

Wonder if II's will also see it this way, or if hands are tied with respect to the broken covenants forcing unfavourable terms of repayment. It's currently looking that way.

If Sidara request an extension, and it gets 'rejected' by Woodgroup... this is a sign of strength.

If Sidara request an extension, and it gets 'accepted' by Woodgroup, this can be seen as an alternative option to re-finance.

If Sidara do not request and extention, they have seen enough. I was considering the notion that they could not afford the price tag Woodgroup has set, however the price they proposed when seeing the books would have been acceptable.

It doesn't mean to say that re-finance will the be immediately actioned upon the RNS stating Sidara have left the building, I still think this will be done after the damage report (FY24) has been stated, for the interest of both WG & Lenders.

We could well fly back up to 40s-70s straight after suspension if FY24 is restated. We just don't know at this point in time. More will be known on the 17th April.

The hard part is done - that was holding on to these on the way down... chart now trading sideways again.

Shorts reducing exposure at these levels will naturally bring the SP up.

A 5% day on day rise (buisness days) until 17th April brings us to 33.5p... 200% premium (£1 target achieved).