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Is it me or has this slipped by everyone radar the Synergia is drilling an appraisal well?
https://www.energyvoice.com/renewables-energy-transition/551887/synergia-appraisal-well-camelot-uk-ccs-project/
CCS is like wind turbine were back in the 80s and 90s
It may take a bit of time but when it gets going it will be a monster.
It's happening faster then you think!
https://www.drax.com/financial-news/development-of-uk-ccs-infrastructure-and-beccs-business-model/
https://www.eni.com/en-IT/actions/global-activities/united-kingdom/hynet.html
LOL, point taken, I will check the spelling after dictation before pressing send 😉
Glad they could bring a bit of positivity to the board 🤣
Alice, who the heck is Alice ( if you remember the awful song)
Alice is the one to watch 😉
Lol.
Elegance
Thank the lord for Sean stumping up the cash, whoever Sean is. And as for Mike Stone, he's a good lad too.
Conger, I am sure your maths is more educated than what you would have us believe? To base the value of the company solely on what Selan have valued 50% of the Cambay would not be a correct assumption?
Tax offsets, CCS, the current risk of going bust or at least requiring another placement removed once that 2.5 million hits Synergias bank account, it is also right what Gordon has said, Sean would have paid the least amount of money possible to get 50% of the Canbay and if profitable based on well production we are likely to see a much much higher valuation.
GOI JV signing off should be fantastic Mike stone for the company to achieve with a secure rerate, but IMO it’s not then time to sell, rather enjoy the step up in valuation and see just what the production figures will be from the first well. Might we see Panmure Gordano’s near 1p broker valuation come to fruition this year? I mean seriously, if we get only half of that this year it’s a 5 bagger to your holding?
We also need to bear in mind that of course Selan will be paying only a fraction of what they think is the true value. Otherwise, it wouldn't be worth their while.
The moment was when i realiased when the other partner put out the RNS the 20m USD carry was in fact 10m of Syn and 10m of the new partners.
So share cap is about 12m UKP, they sold 50% of casmbay for 10m USD of work (there half of the 20m USD carry) plus 2.5m USD payment, plus some potential bonuses down the road. So lets just say 50% of cambay is worth 12.5m USD whihc thet still have and the 50% they sold is worth 12.5m USD which they have not go yet but is promised / owed.
Therefore they have 12.5m usd (50% of Cambay) and are owed 12.5m usd or around £20m UKP, as i said Sahre cap is 12m so the share price is not reflecting the balance sheet value cambay even, the share price should be about 0.185p, then you have X to add to that.
This is why i sold out when it hit 0.18p alhough i did not get anywhere near that for my holdings, as the share price moved down as i sold a lot of shares, around 80m i think, and this is why I have bought back in at 0.115p, although in a much smaller holding now.
I suppose the sign off depends ultimately on political will...approval could be fast tracked in literally hours if they wanted to..India are a net importer of hydrocarbons so why pay a premium for gas and oil if you can get untold amounts on the doorstep. I didn't think the election had anything to do with it but maybe a government not quite so friendly to Russia would be very interested in expediting home resources
Sausage. I have no idea, other than everything taking an eternity, whether there's an election or not. Syn themselves seem to have no clue as to how long anything will take or the reason for delay. Also dont forget when we were waiting for the transfer of gspc's 55% we were told they were hoping for " a favourable time frame" and it took 10 months. There was no election then.
Quite frankly, I neither know or care the reason for the delay, only that the company was totally wrong on the time scale yet again.
The rope 📏 u`v bin hoping long enough 🥕 is getting shorter by the week, actually by the every tik-tok of clock, not only for you but also for them placing cover orders after/pre market @ 0.09/0.99. one week closer whichever way you look at it 😎
Gordon
So if the fact that the Minister is out on the campaign trail for the elections isn't the reason it's being signed off even after SYN RNS'd to say that they considered all had been done, do tell us why you think the JV still hasn't been signed off??
My view is that I believe Roland will head out to India when the election has been completed to do the business on signing once the Minister is 'back in the office'.
Personally, I still think the elections are utterly irrelevant with regard to approval. Assuming it is the minister who has to sign it off, and he is on the campaign trail, I find it hard to believe that all routine business will just stop if he is away. He will no doubt be briefed every evening by his civil servants and given any documents that need signing. Even if it's every few days it won't make much difference to the overall delay. None of which makes any material difference. It happens when it happens. Still bloody annoying though. Gla.
I'd agree pjm, I think all it requires now is the Minister to return from the campaign trail. There are elections on the 1st June but after that no more elections just the results. So anywhere from the 4th - 14th for me.
That's good news DVH , the wait is about two weeks , post 4th June, elections should have finished by then.
Glah
DV. There shouldn't be much in the way of taxes, for a while at least, as there is a $125 million loss pool on the Cambay Project to be set against future profits.
How far down is this in the Miniters in tray? I suspect quite high given the JV partner and the potential cash/taxes from the asset. End of June....
RNS: 'At this time, Synergia believes all the necessary formalities have now been processed for the GOI approval to be issued once Ministerial sign-off has occurred.'
Any time from now, to the end of eternity for me.
SOL. ( Sigh out loud ).
Anytime 4th June to the 14th of June for me.
I just wish Roland would communicate what is already known.
So how much longer do you think? Week of 10th June?
Kaltersee, I know right, Kormas are for beginners.
I heard back from the minister of hydrocarbons, apparently the call centre he works at has been very busy dealing with eBay complaints but will get round to it soon.