Ann: JACKSON 29 FLOW TEST AND GAS ANALYSIS UPDATE, page-14

I agree with your comments and share your frustrations.

It appears the Company has made solid progress in recent months and despite a stream of positive reports the share price has failed to respond.

Could it be that everyone thinks that they are 'cum issue' ? Cash at 31 Dec of A$2.6M and whilst drilling is being (entirely?) funded by Helium One there is still a high corporate burn rate with operations in the USA. Also, the trade creditors as at 31 Dec is relatively high at $0.47M. Look forward to the March Qtr cash flow statement.

Or is this selling from the Placees who got in at $0.004 and content to sit on their options.

Or is their any chance of a Share Consolidation. Pure speculation on my part.

Or all of the above?

I don't know, but I am concerned by the probability of cap raise to fund the forecast Q2 (CY2025) production and to just maintain a reasonable level of liquidity. BNL Directors - if you read this, this time would be appropriate to focus on current shareholders to support their company and participate in any raise.