RE: Near term revenue26 Mar 2026 07:54
In the 20 March 2026 annual report, the board said the situation regarding the impaired US assets was such that the impairments could not be justifiably lifted at that time, and that it was not the view of the directors that this was likely to happen in the near future, if at all. The accounts also said the Texas leases/drilling assets remained at nil carrying value, with no impairment reversal recognised.
Six days later, in the 26 March 2026 Texas/operational updates, they said restart of production at Chalk Talk A-1H could potentially begin within weeks, subject to lease renegotiation and other steps, and that this may result in a partial or full reversal of prior impairment losses, subject to assessment at the balance sheet date. They also said RMD Group had agreed funding for the workover.
Distinct change of narrative here. So I'd like to know what we gave Lunn for petroquest loan??