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Mr. Dude, I’m interested in your perspective on why this might not be seen as an encouraging result, despite the factors I mentioned below.

GL SR

Love this news ;-)

Reduced Dilution: The original deal would have issued enough shares to give Central Petroleum a 25% stake in Georgina Energy. This massive dilution is now off the table.

Lower Funding Requirement: Completion of the acquisition was contingent on a £7 million fundraise. By walking away, GEX avoids the immediate pressure to raise this large sum in a volatile market.

Operational Focus: Some investors argue the company was overextended. Cancellation allows management to focus exclusively on their 100% owned assets, Hussar and Mt Winter, where drilling preparations are already advanced.

Europe’s Gas Market Braces for Winter Shock as Traders Bet Prices Could Double

https://oilprice.com/Latest-Energy-News/World-News/Europes-Gas-Market-Braces-for-Winter-Shock-as-Traders-Bet-Prices-Could-Double.html

Ocelot re: your last post - I'm sure you get my drift ;-)

Dear Mr ANGUS we've waited a year, so bide your time a little longer; maximize the impact by waiting for the ideal opening.

GLA SR

As a result, Mr Michael Whitlow, Mr Ian Bagnall, and Mr Nicholas Tulloch have been appointed to the Board. In addition, Dr Peter Sargent, Mr Shalabh Kumar, and Dr Tim Corn, have been removed from the Board with immediate effect.

"and a number of additional companies continue to express interest in engaging."

ADDITIONAL is very positive ;-)

Hold tight

GLA SR

Https://www.reuters.com/world/middle-east/us-military-prepares-board-iran-linked-ships-coming-days-wsj-reports-2026-04-18/

US military prepares to board Iran-linked ships in coming days, WSJ reports

From RNS approx 6 weeks ago .....

"pleased to announce a successful fundraise supported by a new cornerstone investor, institutional investor Premier Miton, alongside Directors and Management, existing shareholders and other new investors"

I don't believe Premier Miton are in this for the short term, they see value, especially now with the current POO.

GL SR

Tony, you really do appear to be the type of human being that holds ships steady in one spot m8.

GL SR

"At current oil prices and with its low onshore operating costs, Pine Mills generates strong cash margins, and we remain focused on converting our existing NPV10 $9.6m reserve value into cash flow and shareholder value."

What was Oil at beginning of March, $70ish? Look at the price now!

The company was saying: "We have $9.6 million worth of oil sitting in the ground at Pine Mills. Because it's cheap for us to get it out, we're making a lot of profit on every barrel. Our main goal now is to keep pumping that oil so we can turn that $9.6 million value into real cash that we can use to grow the company or pay back our shareholders."

GLA SR

I know the current Mcap is ridiculous, especially with the recent rise and still rising POO

GL SR

Now in progress - Hold Tight ;-)

AIMHO

GLA SR

vance says us to leave ****stan after not coming to agreement with iran

published at 02:37

02:37

jd vance says "we have been at it now for 21 hours" but adds, "the bad news is that we have not reached an agreement". he says the us is now planning to leave ****stan.

he shares his appreciation to the prime minister of ****stan and field marshal munir.

"whatever shortcomings of the negotiation, it wasn't because of the ****stanis who did an amazing job."

I'm lost here is this share something to do with fish, or has someone accidently put a space in their post?

GLA ecxept the resident TROLL - SR

BP - please try and be more positive and start looking through the wndscreen and not the rear view mirror. I'm sure the market will be looking forward once we return to trading.

Presentism: This is the intuitive view that only the present moment exists. The past is merely a record of things that used to be real, and the future is a set of possibilities that haven't happened yet.

GL SR

NeoGeo - Your thoughts appeal to me very much, but I'm sure there are some Debbie Downers who will find something negative in what you say.

In fact they probably will have done so by the time I write this and press the 'Post Message' button lol ;-)

GL SR

REMEMBER .........

Following its March 2026 expansion, Angus Energy's total hedged position through June 2027 stands at 12.9 million therms.

This portfolio covers approximately 44% of forecast production over the period at a weighted average price of 101 pence per therm (p/therm).

Hedge Price Breakdown (2026–2027)

Recent "early hedges" were secured at significantly higher rates than the portfolio average:

* April 2026: 141 p/therm

* May 2026: 135 p/therm

* June 2026: 127 p/therm

* Portfolio Weighted Average (through June 2027): ~101 p/therm

Key Strategic Highlights

* Upside Potential: Approximately 50% of forecast production remains unhedged, allowing the company to benefit from potential spikes in UK gas prices while the hedges provide a guaranteed revenue floor.

* Production Support: These hedges are intended to underpin the company's operating costs and support its [current financial restructuring]

* Recent Performance: As of early 2026, Saltfleetby has seen a 30% increase in daily production (averaging ~6.3 mmscfd) following successful well workovers.

The word 'Fleeting' comes to mind ;-)

GLA SR

Exactly ResRes, hedges locked in until June 2027, and when you look at the new hedges compared to the legacy ones which expired at the end of June last year, well it's very positive is it not?

Legacy hedges were primarily fixed at a rate of approximately 29 pence per therm, often representing less than 50% of prevailing gas prices during their final term therm.

Following their expiry, the company’s average hedge price for the remainder of 2025 jumped to 84p per therm in Q3 and 91p per therm in Q4, a price increase of roughly 180% to 213% compared to the legacy levels.

The situation has changed beyond recognition now, with the new hedges locking in an average of 101p per therm for approx 44% of production until June 2027, and the rest being exposed to even higher spikes in the POG & POO.

GLA SR

A nice bit of constructive reality there Mirasol.

Thanks and GL SR