Ann: Hickory-1 Operations Update, page-26

My post explains why SP isn't reacting, moved to this heading. IMO..

Company trashed any SP momentum by that real "amateur hour", terrible BOP RNS imo, market SP now damaged for this well and sadly will not recover this year. As we all know, this well will be finished in 2-3 days TD and quick wire log and all over for another year. 88 back into hibernationuntil 2024 imo and gives themselves a pat on the back with more performance shares imo! Disgraceful situation imo!

As I said start of week they would have reached SMD's and I know they have been given a right blast about that last RNS. Should never have happened. No excuses. Now WOW, the change of approach, wonder why now, lol, now communicating after 88 said they wouldn't and trashed the market, SP fell 30% with this unacceptable critical messed up BOP RNS imo. Can't redeem themselves now as I see it. Only acceptable thing to is Resign, I say!!

Just re-read the "amateur communications" and now we all know the "consequences" for this!!! This should be on every "companies mission statement" OF WHAT NOT TO DO!!!

The KUP reservoir is a tertiary target and will be drilled subject to remaining time in the season – This means to me, PPP after 12 months and we had some delays getting rig on site, late CR and also had minor delays/issues whilst drilling to BOP stage and we are not sure if we can complete our drilling program imo?????

The Company anticipates the primary and secondary target zones to be intersected within the next two weeks, before determining whether to drill ahead to the tertiary target and reaching permitted Total Depth (TD) of approximately 12,500 feet. - Again, says to me, we might run out of time and might not complete our drilling program once again, then alone reaching TD and puts wire logging in question imo???? Now we are time poor, with time constraints!

A sophisticated, targeted wireline logging program is planned to be run after reaching TD – Sends uncertainty reading above, saying we might not even get to TD due to time constraints so will we actually see wire logging being done at all imo ????

The Company will provide further updates subsequent to Hickory-1 achieving TD – This is the kicker that really smashed the market imo this word “SUBSEQUENT” which Bill highlighted and I originally rushed over - meaning “coming after something in time; following:”

88 has no other option but to force resignations now imo.

If this irresponsible SP DESTROYING RNS didn't happen and 88 simply said "cemented and successfully tested BOP and we look forward to announcing updates as and when we drill into our highly prospective plays" then SP would be this imo, as this was our highest COS and best prospective well since IW1, might add also would never go to 5-10c like 2 yrs ago as they had no intention under the PPP structure to complete this well to flow testing in 2023, imo.

SP after last years dud - 0.008-0.0095c
Spudding - 1.1 - 1.3c
BOP Test - 1.5 - 1.8c
SMD's - 2.2c - 2.8c (with hydrocarbons mentioned)
SFS and BFF reservoirs targets - 3c+ (with hydrocarbons mentioned)

TELL ME I AM WRONG!!!! 88 has well & truly destroyed this SP momentum imo. They all have to be held to account and I expect resignations starting with our newly appointed (accountant) MD imo!!!!

I am so livid and furious with what has transpired with this well and cost me and you all, big money in profits. Wasted year!! Meanwhile 88 continue to earn big money and mark my words watch the performance bonuses/shares they all get after this well. Holders just show them the door, they have to now go imo.