Member Info for Skippysb01

Whilst I think it is clear that QHE is extending the test because they need to improve flow to make the well economic I do think it's worth pointing out the utter nonesense in your post.

1 - you don't know that. Absence of commentary on every single thing ever mentioned is not absence of intent.

2 - Fracking is industry standard and I don't think you know what it is. It is hydraulic fracking. It's used to encourage flow for production wells all overflow the world all of the time.

3 - the RNS is clear. They have stated what the gas content looks like and that they need to move to the next step to understand potential to improve flow. You can interpret the RNS any way you like but ultimately your view is shaded by what you wanted to happen quickly but didnt get yet.

Agree with the view that 47p was the result of volatility with the situation in Iran. Ideally I would prefer not to have that volatility because it causes a level of uncertainty that makes it hard to see what the real value is. What works for HEX of course is being able to sell gas for 3 months at enhanced spot prices and that will be clearer when we see the accounts. After that there might be a more reliable market price.

A lot of investors are still treating this as a basic AIM exploration company. Fixated on things like the Inez progress and the lack of video at the AGM. The reality is that getting the well string out of Inez is a tactical flex and nice to sort it but ultimately they could just drill another Inez well and will drill more wells anyway to add to the production capacity.

But the AIM investor is flexing on the Inez well sting being freed up. Incredibly - pulling that out of the well will probably get us back to 47p whilst we should be over 50p just due to the basic economic certainty already in place.

Worse case for HEX is they find some sort of rare caterpillar at Rudyard and the environmentalist shut it down. We could be into the realms of an asteroid hitting the plant level if you want to argue that something is going to stop them producing and selling helium.

Correct.

No change to the chance of this being economic. That is all that matters now. Can they make it flow at an economic level. % helium multiplied by flow of gas.

Would also note that on the previous project, which was called Vecta, they were quite quick to call it when it became clear it was not going to be economic. That was when they were called MSMN last year. You can still read all of the RNS coverage on LSE.

Lord - I play a straight bat on these boards. Never try to misrepresent anything. Everything I write is my view. I never ramp and a never de ramp. Hope that's clear enough.

Yes the comma. I was being a bit sarcastic.

There is not actually any evidence that Bo is looking to get out.... just thought I would mention that.

So if we get a sale or JV - big + to SP

If we bring more wells online and extend current or get new off take contracts in what is now less than 3 months. Big + to SP.

If we have positive progress on Hydrogen at Rudyard - big + to SP.

No video and technical problems at the AGM - disaster apparently. Caused a total village idiot convention on here.

Anyway - people can decide themselves whether or not they want to invest.

They only had an AGM because it is a regulatory requirement to have an AGM - annually.

You cannot use an AGM to release new material information. It has to be in an RNS.

Expectation of ‘some reveals’ at the AGM are an invention by shareholders.

LafyoaLuon. There was no forward looking information at the AGM because that has to be in an RNS. So we will likely get better answers in RNS going forwards when they have actuonal news to release.

The interview analogy just doesn’t work.

Sorry.

As investors or traders or whatever we get to make our own decisions about whether to buy or sell shares. It is yours and my problem.

My view is the AGM was OK and I expected it to be just that. No new info. Box ticking. Honestly it is unusual for me to listen live to an AGM because there is never any correlation between how exciting an AGM is and company performance. Nothing.

In this case I already know what I know about the companies prospects and I trust them to continue to deliver. It is not blind faith but informed confidence. They have delivered so they are quite likely to continue to deliver, especially as the medium term stuff is stuff they have shown they can do.

Should Bo have been more prepared with his answers to the investor questions? No. His answers were perfectly appropriate within the governance constraints. There was nothing more he could reveal. The questions assumed disclosure is permitted or at the very least tried to achieve disclosure.

Some of you want answers to questions you cannot have the answers to. In the run up to the AGM you can see that raised expectation on these boards. People want unicorns and build faith in them.

Bo is acting in the interests of shareholders. It is not a performative role. He does not have to deliver a super AGM. He is required do what he can to deliver shareholder value. That is not to be concerned with daily share price reaction s which even FTSE100 CEOs will tell you they have little or no control over.

They will drill more wells and bring them to production. They will sell helium. They will expand production capability. The company value will grow. Non of these things will be influenced by the AGM.

Nudge. What’s wrong with traders? They make the stock market tick. You however are one of a long line of irritants who just don’t understand how anything works. I bet you convinced yourself the AGM would be all unicorns just for you and now it’s everyone else’s fault.

Many of us have bagged here so that makes your 2 day SP analysis look laughable. Come back and own up when the SP is back at 45p and that might gain you a tiny amount of credibility.

I bet Nudge will be back to admit that things are more positive on a day when Mr Market goes up 5% to tell us everything is fine?

No of course not.

Nudge nudge isn’t here to help us make money with his BS commentary is he now! Wink wink.

It’s hardly the first time the SP has moved 5%. It happens on no news days. Get over yourself.

On my second listen to the AGM it was quite clear to me that there are no issues with the plant. This is a completely fake narrative.

I just re watched/listened to the AGM. It wasn’t nearly as bad as many here are making out. They clearly had technical issues with the presentation which were trivial but disrupted the flow. Happens all the time.

Clearly proud of what they have achieved so far.

In the process of filling the tanker was stated as a positive thing. Which it is.

Working with US Airforce. Flowing or geological hydrogen to be confirmed bit mentioned early on and clearly an important focus. I expect they can’t disclose much about this.

Bo spoke knowledgably about the current supply issues and impact that has. Completely justified the 3 month spot price arrangement. It is beneficial to shareholders.

Lot’s of positive affirmation about the plant. There are clearly no issues with it.

Suggest people look at the Year Ahead slide and how it talks about the market and HEX being an industry disruptor. They want to be end to end operators in the industry.

Q&A

Q1 how many wells/ cost per well and current actual and funding mechanism? A lot of stuff in this question that you just can’t disclose outside an RNS. Answered as fully as could. Want to grow organically and use cash flow to do that. Talked about weather and not drilling because it’s not safe in winter.

Q2 Independent resource updates? When they drilled more wells across entire field as opposed to just the northern and southern zones. They have expanded footprint materially since IPO and Bo doesn’t want to do frequent resource updates.

Q3 Routes via which the company might access liquefaction capabilities? This Q was too long and even recognised forward looking nature of the question. Bo addressed the logistic preference for moving around the world. Has an eye on it. Everybody’s objective to have some liquefaction capability eventually.

Q4 Comms. Updates quarterly at a minimum? Bo stated they had released16 RNS in 2026, 8 were operational. Maybe spacing between them not consistent. Not going to release frivolous info. Rig delay doesn’t need an RNS. Actionable items only. Real results and outcomes. I agree with him FWIW.

I have to say the questions were not great. Too long. Seeking new information rather than clarifying published information. It was clear that Bo was thinking on the spot about what he can and can’t say. They are not going to give you new facts and figures at an AGM!

I recommend anyone who feels a bit shaken to go re watch the AGM. A lot of make-believe has been posted on here since then. It was a positive event albeit with no real new information. I felt the ambition was clear from the slides which did provide a bit more clarity on strategy which I was very pleased with.

JBatch. Agreed. The thing that bugs me is the reaction to the AGM by people who really should know better. A good AGM is an AGM you don’t notice. I think people get emotionally invested in what they want to happen and then when it doesn’t they lash out at instead of reflecting on why they let themselves fall into that trap. Better to ignore the AGM as it’s only there as a regulatory tick box that companies don’t really care for.

Yes the AGM was a mess. But it just isn’t important.

Based on what?

Having said that if I knew that my investment here would be up 150% by 2027 I would have that thanks. You made a potential good thing sound like a bad thing. Odd.

Jbatch. You got your threads mixed up.

And everything so far achieved in just 2 years. Outstanding.

I think you may be deficient. What a stupid post.

From last weeks RNS:

‘While terms are confidential between the parties the Board is able to confirm that the pricing achieved is at prevailing spot market rates for Grade A helium, and is substantially in excess of the historical price assumptions used in the Company's pre-IPO financial model.‘

Doesn’t sound like a bad deal to me. Also doesn’t say that all of the helium would move n the first week. I’m sure nudge and punt could fill many tankers with hot air in a jiffy but in real life that gas has zero value.