This section of the RNS is the most important in my view2 Dec 2025 21:34
Intermittent oil production from Dubhe-1 commenced on 3rd November, and consistent small oil volumes commenced from around 19th November. Gas production volumes increased throughout this period. Thus far, approximately 40% of the injected water volume has been produced with steady gas production along with the modest production of light oil.
I’ve read this about 10 times and I think it’s a lot more positive than the market has realised. I think the wording consistent small oil volumes from 19th November (which was 2 weeks ago) is critical. Particularly using the word “consistent”, not intermittent or anything to suggest stop and start, it means it’s flowing, still with a 60 percent mix of sand and water down there. That says a lot to me!