Member Info for Skippysb01

From RNS:

'The JV partners in The Wilson River-1 have decided to conduct a Drill Stem Test ("DST") over the potential oil zone identified from analysis of logs and hydrocarbon shows from the well. The JV is currently refining the testing and completion options and getting quotes to carry out the work.

The testing program is currently on schedule to commence during late April. Following the results of the testing program the JV will consider an extended production test.

Other potential zones of interest are still having petrophysical analysis completed along with comparison to producing wells in the region where data is available.'

This followed by other RNS's with the lates news being that the DST would start early May (it's now mid May). I had a look into this and it's true they might not need to announce start of DST.... I can't imagine why they wouldn't at least tweet this - but this company don't do that. I'm not concerned about the reasons for delay - weather.

There is very little info to be had on this company. Website doesnt mention Wilson River outside of the recent RNS's and the RNS's contain very scant information. No data. Nothing about oil samples, no cut, smell, chemical analysis etc.

Has anyone been able to find anything about oil production in the local area? They seem to think the well might be similar to other nearby wells or at least are reviewing that.

The encouragement is that the JV partners wanted to DST but t looks like a limited test to decide if production testing would be worthwhile.

The problem with FOMO Friday is when is it followed by No News Monday. No surprise that the SP is lower this morning. Nothing changes. I am a bit surprised they have not communicated anything since stating DST would be early May. But then it seems they generally don't and so we can assume news is imminent.

Is that the same rumour as the one from yesterday? You then dismissed it later in the day.

It's almost like you are making it up as you go......

Surely they would announce start of DST?

Trump will announce that Elon Musk is buying a British, USA based helium exploration company for £1bn. A big beautiful deal. Seriously - whatever Trump announces I expect it to be vile and dumb.

Oil testing a different ball game. Would think they would come back to that at a later date, probably after developing further production wells for helium.

The oil, like the potential hydrogen, is a nice problem to have but helium production is the focus now.

There will be a steady flow of news focussed on production now, There is a plant to set up, filters to plug in, flow testing to confirm, off taker arrangements, sales to confirm. etc. etc. If we are going to be producing in the summer it's going to build very fast from here.

I always note that HEX never seems to go more than 2 weeks without news.

It's basically the same geology as the first drill, being nearby, so should anticipate similar Helium concentrations.

Linda is a development well to expand production - so low risk from a testing perspective...

TyreTread. You need to get your tires checked I think. Hardly any volume since you posted that arrow,

Whilst the 1 shares show up on the chart and are logged by LSE - they do not impact the SP. You cannot impact the SP by trading one share. It just doesnt work like that. What you see is these very small trades showing at the far ends of the spread so it makes the intra day chart look messy but it will not impact the quote you get when you trade.

Renergen is a good comparison but also important to note they have had other signifiant issues this year - not about the helium

Sorry - wrong board!!

Renergen is a good comparison but also important to note they have had other signifiant issues this year - not about the helium

'views of the BOD'

The forward looking views of the BOAD in the Final results RNS are really very weak. They need actual commercial contracts and I don't see anything concrete. Appreciate these results are expected to focus on the period at hand but they included a lot of words about looking forward with nothing in them.

Potential maybe.

I note they have not yet circulated the additional explanatory note to explain the purpose of today's warrant meetings. This is promised in the RNS that announced the warrant meetings.

I'm conjuring up a mental image of the warrant holders shuffling into a room and being told this:

"The purpose of the Meetings is to seek warrant holder approval to vary the terms of the Instruments such that the Exercise Period shall be extended to be the period from (and including) the business day immediately following the date of the Meetings to (and including) the earlier of the date falling 3 years after the publication of the FCA-approved prospectus and the date of a Change of Control (as defined in the Instruments)."

And then sitting uncomfortably and wondering whether they are the only one who doesn't understand what that means until one of them plucks up the courage to ask......... "but is it NT to buy?"

It is a muted response but then we won't have the flow test results for Linda1 for about a month. Selling today is largely the usual traders that bought in over the last week anticipating drilling RNS. They take profits and move on.

Not concerned. This market needs absolute verification. Linda flow test RNS should provide some head wind for the SP. When HEX releases it's first production RNS this will re rate.

Newuncle. Thank you. That's extremely helpful. The message board is 1000% more meaningful as a result today.

They refer to an explanatory circular. But nobody has seen it. If the warrant holders have it already (via post) we can assume it contains no insider information that would impact the SP. However it is odd that the 'explanatory circular' hasn't been posted on the SCGL website as yet.

Thanks Newuncle. But doesnt tell me anything about anything interesting being discussed in the meetings tomorrow.

I suppose if I take it as read - it literally is just a matter of changing the warrant terms and may be no interesting reason to do so.