Member Info for RKBeekeeper

CPR Report

Analogue Fields

The CPR compares Mendell’s geology to:

• Mid continent U.S. helium fields

• Other radiogenic helium basins with similar basement composition and structural traps

•

These analogues support the idea that Mendell’s acreage is geologically capable of hosting commercial helium accumulations.

RKB

PS Change “capable” to “achieved or accomplished”

CPR Report

Migration Pathways

The CPR describes a classic vertical migration system:

• Helium generated in the basement

• Moves upward through fractures and porous intervals

• Accumulates beneath the regional seal

•

This is the same mechanism seen in the Four Corners and Kansas helium provinces.

The CPR does not identify any fatal flaws in the migration model.

RKB

CPR Report

Trap & Seal Integrity

This is the most important part of the geology, and the CPR is broadly positive:

• The structural trap is well defined.

• The sealing layers above the reservoir are thick, ductile, and low permeability.

• No major breach pathways (faults cutting through the seal) are identified.

• The geometry is consistent with long term gas retention.

In simple terms: The CPR believes the trap can hold helium and has likely held it for a very long time.

RKB

PS Again another statement we know not to be true “believes the trap can hold helium and has likely held it for a very long time” likely we know from the Rost well is what the authors of the CPR have to put in the CPR Report but we know there is Helium and lots of it.

CPR Report

The Reservoir Quality

The target formations have:

• Good thickness

• Moderate porosity (enough space to store gas)

• Adequate permeability (enough connectivity to allow flow)

•

The CPR notes that reservoir quality is not exceptional, but sufficient for commercial helium if pressure and trap integrity hold.

This is typical for helium plays — they rarely have “oil field quality” reservoirs.

RKB

PS But the CPR Report ignores our Rost well which is producing and the “reservoir quality is not exceptional” above we know to not be true.

CPR Report

The CPR confirms a valid helium source:

• The basement rocks beneath the acreage have high radiogenic potential.

• Helium has had sufficient geological time to accumulate.

• Migration pathways (faults, fractures, porous units) are present and continuous.

This is a key tick — without a proven source, nothing else matters.

RKB

CPR Report

So, could the CPR Report date appear to depress Mendell’s perceived value? I believe so.

• The CPR must ignore the Rost well’s production

• The CPR must treat Mendell as pre discovery

• The CPR must classify only prospective resources

• The CPR cannot assign contingent resources

• The CPR cannot assign reserves

• The CPR cannot assign dollar valuations

RKB

CPR Report

The CPR Report was dated 1st January 2026 which at first glance seemed to me to unusual until I researched various CPR’s and discovered that they must be dated at a point where all data is “frozen”

Therefore, on 1st January 2026 the Rost well was not “in production” for the CPR.

The CPR must treat Rost as non producing.

Competent Persons often choose:

• 1 January

• 1 July

• Quarter end dates

Because:

• They align with financial reporting

• They simplify year end reconciliation

• They avoid mid month data cut offs

• They make the CPR easier to audit

Therefore, if you do read our CPR Report you will find it is in my opinion overly conservative.

RKB

Institutional Investor

From today’s interview Nick said an Income Fund took 40% of the placing that’s 50 million shares.

Note “Income Fund” and what was said yesterday about potential dividnends in 2027.

I calculate that we will have a 15% (just under) shareholder on our significant shareholders list after the website is update on the 8th of May 2026 but Nick may wait till after the GM which has to happen for share authority.

RKB

CPR Report

The CPR Report (Competent Person’s Report) is a 54-page document that most likely very few on our B.B. will read. Unwise (not to read) in my opinion because there is a lot of detail contained within it that could inform you of the potential for Mendel Helium.

Interestingly the CPR is dated the 1st of January 2026 and many things have happened since then but I will detail a few points to “ponder”

MDH now have 6 Wells with Proved Developed Producing (PDP) and Proved Developed Non-Producing (PDNP) reserves of natural gas, natural gas liquids (NGLs), and helium.

In Hugoton we have: Peyton well, Bearman well, Dimitt well, hen well (it’s the male equivalent of hen but LSE censors it) Nilson well and most importantly the Smith well (more later on this well)

In Fort Dodge for the CPR we only have the Rost well and the Brobee well.

The Smith well: We own 100% and it is going to be de-watered and all going well it could be in production this year.

At Fort Dodge we are actually producing at the Rost well but the CPR has Rost as non producing.

I will Post more over the weekend about the CPR as this will allow Posters time to “top-up” assuming they have read the CPR.

RKB

Good morning SashaCh

I must disagree with your view of our CEO, Nick.

With Nick’s relationship with Paul Mendel (our new Director) it was possible to RTO with M3 Helium.

M3 Helium had the expertise to locate our Wells in the Hugoton & Fort Dodge area. What they did not have was the resources to develop and expand these resources.

Also, Paul is the brains behind the de-watering of our Rost well which is the foundation stone of building Mendel Helium into a major player.

Nick has my full confidence along with Eric, John and now Paul.

RKB

The Coming Year

I have not read the CPR (Competent person’s report) yet but will digest it later on the Laptop.

Taking the lowest estimate of:

“CPR estimates Fort Dodge prospective resource of: P90: 2.12 Bcf of helium (US$636 million at $300/Mcf helium)” and with the current disruption innthe Middle East affecting Helium I would guess that the price of Helium will be elevated for 3 years and the $300/MCF above will most likely be higher and @ $400/MCF we would be looking at close to $1 billion.

With the prospect of dividends next year I would expect our share price to be over £1.

RKB

PS I note that the £5 million fund raise shareholders were not offered Warrants, which is good news for us little shareholders.

Have you read the RNS?

There is a lot of information there to digest but maybe focus on the potential dividend payments in 2027

RKB

Good afternoon BobRuncie

On the Mendel Helium website, under “Investor Centre” “Shareholder Information” there are details of Warrants as at 5th April 2026 but it is not 100% accurate.

RKB

PS Little snippet from RNS 17th November 2025 “Specialist engineers and midstream operators who have expressed interest in assisting M3 Helium in further purifying the helium on site and thereby increasing the value of each delivery.”

https://mendellhelium.com/shareholder-information

Warrants @ £0.06p

Yesterday we had an RNS informing us that some Warrants were exercised @ £0.03p & £0.06p

MDH’s shares traded in a range of £0.061p to £0.686 (ignoring the late reported trade @ £0.073p from Tuesday)

I thought it strange that someone would exercise the £0.06p Warrants when it appeared at first glance that they did not have to but then after checking my notes I realised that some of the £0.06p Warrants expire on the 27th of June 2026.

Looks like we will see more £0.06p Warrants exercised in the next few weeks.

RKB

Hot Rocks

Hot Rocks Investments Plc once had 7.5 million shares from 23rd June 2025 and currently have 5,850,000 shares.

When they took part in the Placement, they were given 3,750,00 Warrants @ £0.04p with a clause of £0.10p (after 5 Business Days must exercise if mid-price remains above £0.10P) and 3,750,000 Warrants @ £0.06p (after 5 Business Days must exercise if mid-price remains above £0.15P)

With Hot Rocks sales on 12th & 16th of March 2026, I estimate they generated about £77,009 and the recent Warrants exercised @ £0.04p cost them about £70,000.

Therefore Hot Rocks sold a total of 1,650,000 and exercised Warrants of 1,750,000 and should now hold 7.6 million shares.

Will Hot Rocks TR1?

Will our website have them as a substantial shareholder with 4.9812%?

RKB

No that was not a deliberate error it was a mistake as our flow rate indicated on 15th December 2025 was 250 mcf per day and as previously communicated our helium concentration was 5.1%

RKB

PS Well now I know you are actually questioning what I Posted and you may want to question everything that is Posted by everone on our B.B. because soon the Herd will arrive and they will post a lot of Rubbish.

Good afternoon BlueSky72

I have a licence for Microsoft, so I use their AI CoPilot.

The question I asked CoPilot was “Can you estimate as at April 2026 what the value in US $ would be for a helium trailer that holds 265mcf and a second trailer that holds 165mcf?”

CoPilot gave a more detailed reply, and I only Posted a little of the reply.

You may recall last month I Posted another calculation and asked what was wrong with my calculations but to my knowledge nobody replied.

I deliberately made an error (a basic error) in my calculations and because nobody challenged my calculations it confirms for me that Posters do not do their own research and have not understood our initial 5.1% Helium.

What has been confirmed from the 15th December 2025 “flow rate at Rost has been measured at 250 Mcf per day - a 132% increase over the last measured rate in November 2025, equating to a potential value of approximately $3,800 of helium per day or approximately $1.4 million per year.”

What we all (should) know is that the price of Helium has increased substantially. Therefore the $1.4 million per year will have increased.

What we also know: The Rost Twin well has been drilled with 7” Pipe a 68% increase on the Rost well.

What we also know is that we are about to do with the Schneweis well (with Ritchie Exploration) and how our costs will be refunded and the historic flow rates.

What we also know is that the Schneweis well is connected to a pipe line and “the economics of the well will include the sale of hydrocarbons as well as helium.”

What we also know is that the relationship between M3 Helium & Ritchie Exploration, will open-up access to many of their “shut-in” wells due to “excess water” and that Mendel Helium have proven how to de-water what were uneconomic wells.

What we do not know is the current % flow rate of Rost (I believe it will be substantially higher that the 5.1%)

What we do not know is if M3 Helium are purifying Rost with “exciting technology”

What I do know is that soon the £0.04p Warrants will be exercised when our mid-market share-price is greater than £0.10p for 5 or more days and with the current trajectory of our share price I expect this will happen when we join AIM.

RKB

Update

From the RNS 15th December 2025 Nick said the Rost well was producing at $3,800 per day or $1.4 million per year.

The value of $3,800 was in December and Helium prices have greatly increased due to the situation in the Middle East.

I will let you do your own calculations for Rost 1 and the Twin Rost and the Schneweis well and our other 5 wells in the Hugoton.

Roll on AIM move.

RKB

Trailer Capacity

Trailer capacity Assumed cost per mcf (range) Estimated value range

265 mcf $1,200–$1,800 per mcf $318,000–$477,000

165 mcf $1,200–$1,800 per mcf $198,000–$297,000

We were informed a while ago that our 165 mcf trailer was going away ever 1.5 days.

RKB

Twin Rost “Primary Source”

With today’s update on our Twin Rost well stating that “The helium was detected with low hydrocarbon signatures supporting M3 Helium's theory that the helium-rich sands from which Rost produces extend to the Rost Twin”

This indicates that the Twin Rost well is a Primary Source of Helium.

CoPilot said “When a drilling report says a well “encountered helium and low levels of hydrocarbons,” it means the well has intersected a helium bearing gas zone where helium is present but methane, ethane, propane and other hydrocarbons are only present in very small amounts. This is generally good news for a helium exploration well because it suggests a cleaner, more helium rich reservoir with fewer impurities to remove during processing”

Low hydrocarbons = low methane/ethane/propane.

“Low levels of hydrocarbons” means the gas stream contains very little natural gas (methane and heavier hydrocarbons). This matters because:

• Hydrocarbons dilute helium and reduce its percentage.

• Hydrocarbons require extra processing to remove.

• High hydrocarbons can indicate a conventional gas reservoir rather than a helium-rich one.

So low hydrocarbons are favourable for a helium-focused project.

Bottom line

“Encountered helium and low levels of hydrocarbons” means the well hit a gas-bearing zone where helium is present and the contaminating natural gas content is minimal — a positive indicator for a commercial helium well.”

RKB