Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

Trying to follow the strategy of this company is very difficult. Their reports do not seem to have any coherent thread over time.
Can't they put together a clear development strategy chart for shareholders to follow?

Anyway, this is my take - please tell me if I am on the wrong tack here;

1) Pilot schemes; Electrical generation and mini-LNG seem to have evaporated (together with the 2-bit partners, Gruen and FFS) - no longer mentioned.

2) Up North cluster (Amersfort cluster, so called Korhaan grouping); JV with IDC. Some sort of production end 2025. Why is there not much mention of drilling in this cluster - surely many holes are needed before production?

3) Down South cluster (270-Memel and 271-Volksrust cluster); Some sort of undisclosed appraisal production sometime in 2025. All the drilling focus seems to be on this cluster - but IDC are not involved with this cluster?

4) Production Rights; 271 will only be ready in 2025 - why so long? What about 270 production? How can the Down South cluster proceed without a production right?

5) 383(ex-320) Exploration - Don't they have enough on their plate at the moment?

The progress to production continues to be glacial and torturous. I think I will come back in 2025 and see if anything actually happens.
And the share price reflects that!