Member Info for Twenty-Four

They do have funding in progress, as the latest RNS confirms Harlequin has submitted a proposal to fund the entire Hussar drill, including logistics, engineering and a Tier-1 global oilfield services partner; until the JOA is finalised it is legally classed as a proposal, which is exactly how Australian drilling agreements work. The “rich American family” isn’t supposed to appear on the Harlequin UK shell because that UK entity is just an SPV, and Harlequin’s own press release already stated the backing comes from a Colorado family office with around $9bn AUM. Drilling in 2024 didn’t happen because WA regulatory timelines, native title consultations and changes to the permit boundary pushed the schedule, all of which were disclosed in the RNS trail. As for Mt Kitty being “unsellable”, the CPR and historic data show it already flowed helium at 9 percent, hydrogen at 11.5 percent and hydrocarbons to surface, with 2C Contingent Resources assigned, which is why it is attractive as a re-entry asset rather than a greenfield exploration punt. The reality is that Hussar is now permitted, site preparation has started with airstrip work, access roads and pad planning, Harlequin has advanced a funding proposal, and GEX’s portfolio has expanded from two assets to five, including Mt Kitty and Dukas. This is progress, not “no funding” or “no honey”.

To be fair Newbie, that’s not accurate.

The company has deliberately kept overheads from what I understand quite low, at least to comparable AIM like standards. At the AGM Hamilton mentioned that GEX runs a minimal admin structure. The filings seem to back that up. He personally holds around 22% of the shares, so my take is that he’s not interested in wasting money on salaries or lifestyle spending. As for rigs, you can’t physically book one until after the Ministerial and Santos consents are signed off Aussi process. Harlequin have already paid for a feasibility study with one of the world’s top oilfield service providers, a step before rig mobilisation. The CTP deal is not as you put it a “buying before drilling” outcome. This deal brings three advanced wells that have already flowed helium, hydrogen and hydrocarbons. That’s scale, partners, and infrastructure options, not necessarily delay. Yes there is the £7m raise along with the consents, drilling and re-entry work, but afterwards things should we hope move forward pretty quickly and along with that a ‘well’ deserved rerate to the share price!

DD, your five year time scale would be true for a frontier explorer, but GEX’s model is re-entry of existing wells with proven flows and a wellhead offtake partner. The company doesn’t need to build full infrastructure before cash flow — that’s precisely what makes an early special dividend possible once Harlequin’s pre-pay and first re-entries are complete. Management and the board hold over 20 % themselves, so they’re clearly aligned toward distributions, not dilution. Don't hold me to it, but an offtake agreement, or early sales in late 2026, early 2027 might see a special dividend and then once production ramps up ongoing dividends.

For new long investors joining, interested in dividends. Public comments have been, 2025 AGM, “Once producing, the Company intends to reward shareholders — including by way of a special dividend when cash flows begin.” and. “I want Georgina to be known for returning value, not just chasing headlines.” 2024 AGM, “Our intention is to move toward sustainable production and cash-flow returns, rather than short-term asset flips.”. Mid 2024 podcast, “Helium and hydrogen are commodities that create recurring revenue. The idea is not to build something and sell out — it’s to develop steady income from offtake, which allows us to reward our long-term holders.” and August 2025, “I’ve been in companies where the goal was to sell out; that’s not our focus here.

With the Harlequin model, we expect free cash flow that can fund dividends once production is established.”

Even for Newbie, It’s fair to ask where funds have been allocated, but the details aren’t hidden. The £5 million raise was covered in prior RNS announcements and the company’s accounts. Costs have gone toward seismic work, permitting, and preparations for drilling. These all take time and regulatory sign-off. Progress has clearly been slower than hoped, which has been tedious ,but that doesn’t make it “dodgy” or “fraudulent.” Facts and filings speak louder than speculation on a message board, I am still looking forward to the up coming operational updates and maybe even a block buster announcement or two.

They plan to sell gas at the well head to the offtaker(s). GEX will not be looking to find any money for the captial projects. That wil down to the offtaker.

Told ya. :-)

I think there is well over a 1000 km to grade. Airfield/stripe is also apparently in a bit of valley, probably not the optimum location.

A small top up from me late in the day.

If there's helium then the Govt probably would like it out the ground. Dealing with the permits is not easy, size of the drill area changed, the permit application had to be resubmitted and there's local sensitivity. The model is looking for "proven resources". The Govt may make Helium "strategic", that'll be more additional paperwork.

Some great shares out there. Can't see why anyone should remain bothering about GEX. For heavens sake go look elsewhere, seems that for a few LSE posters and the crew, theres far too much to worry about on this company. :-)

I still read into it that Hussar is funded and they are just cracking on with the administraton/paperwork required for Mt Winter, so that this work has been done sooner. This means that once Hussar has been reentered and drilled they can move onto Mt Winter much quicker. I am not convinced a placing is required. Just TW..its making noise for their own short term agendas, which many not line up with those of longer term holders. Minor top up this morning.

Https://wp-georgina-energy-2023.s3.eu-west-2.amazonaws.com/media/2024/07/Geronimo-Prospectus-CLEAN-P20a-c98.pdf

Benny, you a couple of your earlier posts. I guess your moving on to find a trade elsewhere.

"They have a off take agreement in place ..............you wait 9 month for the birth of your child you can wait 9 months to get rich .........this will blow the doors off.................the share market is designed to take from the impatient and give to the patient .....Warren Buffett..........this will be many pounds when they start selling at the drill head......................happy christmas punters".

“They have a off take agreement in place ..............you wait 9 month for the birth of your child you can wait 9 months to get rich .........this will blow the doors off.................the share market is designed to take from the impatient and give to the patient .....Warren Buffett..........this will be many pounds when they start selling at the drill head......................happy christmas punters. Risk reward is too high to sell company are being translucent.............buy the dip.........i did at 7.05 7.12.720.........no gamble no life.”

Details of larger structure needs to be submitted. They back to waiting for the permit.

My understanding from a video was that the requirements within the site visit were covered, but the rain meant that all the team didn’t get back to the office , to organise and submit paperwork. That was before Christmas break, so all papers for permit should’ve been submitted, so now it is being processed.

Just ignore/filter. Only constructive debate/views then float to the surface.

Someone was buying 1 shares to push it up. Too many new accounts on here over last couple of weeks. Any posters that seem to be criticising others, rather than genuining discussing affairs of the company, I've just decided to delete.

Sea of green on my screen.

Hi Londoner, can you please repost the links you mention here, to aid research for us all. Many thanks.

Just filter rampers/derampers. Read company website/presentations, RNSs etc. DYOR. Permits soon, drilling to start soon on reentry wells. 168 abandoned/plugged. Company evaluating opportunities. Scoping report this month. Smallish free float.

Even with dilution we still get to around 145m shares in issue. That doesn’t seem that many for the potential size of assets and hopefully revenue?

I am very sorry to hear of your loss. My partner is from Latvia, but is Russian.

This board is owned and developed by others.

It would be great if it is one of the few on LSE, where balanced views are appreciated, where those pumping, or dumping is mildly frowned upon and where construcive view points are supported and debated.