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Looks like they’re definitely getting approval for another 2.75 billion Shares to be issued, prior to signing this off.

Don’t worry, he hasn’t actually said anything 😂. He’s just reposted stuff from previous threads for some reason.

I know, and they are also getting a lump sum payment, so you think it would all be good. It’s just a worry when it takes two weeks at least from when Roland said it was a couple of days.

My thinking is the JV will include conditions around minimum cash levels held by SYN.

The closer this gets to the GM, the more twitchy I get about the additional 2.75 billion Shares that they want headroom to issue over the next nine months.

Are they being asked to allocate funds to the project, perhaps? It was noticeable that the addendum was communicated days after Roland got back from India after meeting with the proposed JV partner.

They now only have to stretch out the announcement for six more days.

It really is a poor showing from him.

He spent most of October’s presentation using the defence of “we’re dealing with rocks”; well, guess what Roland, this is all on you this time.

“End of Jan”, to “next couple of days”, to “early Feb”. What’s next, “we’re aiming to complete before the end of the year for sure”? 🤷‍♂️

That would be amazing, can’t see it being that much though.

Even if it’s the much-mentioned 2 wells, we’re still talking about a £20m boost and the JV should then be self-financing from there.

Can’t even guess at the upfront payment amount, could be anything at all.

Thanks Gordon

So do you think the vast majority of that additional capex will be at the beginning of the program?

Will that be part of the first two Wells for the free carry? Or will we have to find our half of that additional US$25 million?

Just had a Quick Look at the presentation from last year. They’ve said they’ll be drilling 10 wells at $10m per well, but the total capex on the graphs comes to $125m, any reason for that? Is that just what the current cost would be?

I’m interested to hear what kind of numbers people think would be a good deal, a bad deal, or just okay - both in terms of upfront payment and value of a free carry.

Anybody have any thoughts or workings?

It looks like LSE mark any delayed trade as unknown, which skews your numbers.

I make it around 90 M sales from a total volume of 150 M, we did well stay flat.

Hopefully, this was just the placing Overhang and they are done (or nearly done).

If the news is good, and we don’t have a persistent big seller in the way, this will really pop!

Interesting to see the bid moving UP with each sell that’s listed. Normally bodes well, tends to mean something happening in the background re buying.

Don’t forget he said they are “aiming” to execute these agreements before the end of January 2024.

SS - today’s movement indicates another big sell, maybe 20m. Again, not mine if it does pop up.

Presume placees?

No, it wasn’t me. Mine was a £2k buy, which is why I was watching the subsequent trades.

And there’s the 30m. Don’t know how they can get 0.08p for that amount, but not much makes sense these days.

Not so much those levels (who knows what’s happening there 🤷‍♂️), but you’d expect a +30m sell to be posted at some point.

Expecting to see a big sell come through later at about 0.08p. No other explanation for the drop with the level of buying.

Likely pop back up once it’s cleared - fingers-crossed.

It looks like there’s an issue somewhere. Lots of stocks where there hasn’t been a trade since around 9:15am

Jesus, you’re a ray of light.

You still think we’ll hit 7-8p then?