Member Info for RideDaIce

This may be significant in the long run given his recent appointment to the Cabinet Office.

https://www.telegraph.co.uk/business/2025/09/06/octopus-boss-lets-restart-drilling-in-the-north-sea/

Can we have a little cheer that we are now a revenue generating company with zero debt ?

Perseverance is key. But I guess that's second nature when you're born Stone Hard.

There is no mention of testing in yesterdays announcement. I wonder what the plan is ?

"Preparations are progressing to drill and log this year an MOU-6 well"

Is that Ted Rogers ?

In terms of excitement this could be up there with the Christmas I got the Action Man Helicopter.

Let's hope summer '25 is our time.

Having said that I thought summer '23 was going to be our time having listened to the Sunday Roast in April of that year.

GLAL.

CEG have lots of cash in the bank and are working towards farmout of OFF-3 by year end. I doubt they could be bothered.

Having digested the news I consider my glass to be more than half full.

Of course Hydrogen can be fused into Helium. Stars do it all the time. What we need now is a star to transmute this share price into double figures and beyond.

IMHO Yes. That's Plan Z if all else fails.

The deal Eytan has done on OFF-1 (and hopefully will repeat on OFF-3) is nothing short of fantastic. I've no idea why he would be remotely interested in what is happening over here.

I expecting the storm to continue here for some time. But at least we've got some good weather coming next week 😊

You're clearly from up North F&M.

The best thing for shareholders in my opinion is to get gas out of the ground at MOU-3. Then we can figure out what happens next.

From section 15...

i) On the 12 May 2023, the Executive Directors were compensated for the capitalisation of the loans in the sum of £323,785 and £183,813 (as per iv). They will receive cash payments from the Company upon either a) a flow rate of 1 million cfg/day being achieved from any well of Guercif petroleum or b) a flow rate of 100 bopd being achieved from any well in Trinidad.

Cheshirelad86,

Are you referring to this from the 2023 finals ?

· The Company has no debt.

Directors' loans of £507,999 were capitalised and linked to a repayment in full upon the Company flowing a minimum of 1 million cubic feet/day from the rigless testing programme to be executed in the Guercif Licence or from the flow of a minimum of 100 bopd from the well workovers planned for the Cory Moruga Exploration and Production Licence.

A few days after the start of the new tax year would be perfect.

Whilst I'm not particularly happy with the share price or rate of progress my glass is at least more than half full.

* Production from Trinidad is imminent.

* There is a reasonable chance the perforating the MOU-3 shallow sands and/or swabbing the deeper horizons will result in a modest CNG development.

* Zero Debt.

* The "Jurassic Project" still represents Blue Sky albeit on a longer timescale than most would like.

* EOG received their SA last year so on what basis would ours be rejected ?

So with Cashflow + Zero Debt + Blue Sky potential, the boxes are ticked for me.

Anybody remember this ?

https://youtu.be/wH4bWIYzcC0?t=903