Member Info for Conger2

Not quite Gordon as the company has the cash for the shares increasing its value, so in theory the effect should be zero.

Its the warrants and convertible share that have really really hurt us,

My only comment would involve a lot of swearing.

Stealing losses from the jaws of victory...

Just wow, did not see this coming for months.

I have rarely seen, if at all, any adjectives like this in Roland's Tweets or RNSs.

So this would suggest they have met, or exceeded, the earlier proposed work program. When you consider the JV partner is carrying all the first year costs, and making a lump sum payment to Syn to recognise costs to date.

I think a 60m UKP valuation of Cambay and there fore Syn is very much achievable, which makes a 0.6p NAV share valuation approximately.

Hoping this starts moving !

MM trying to buy big quantities of shares cheaply.

I can get an immediate offer on 30m shares now and the offer is climbing slowly.

Often it is hard to deal in 5m lots.

Don't Sell would be my advice if you want to see this price start moving the MM will have to start raising the SP to match buyers.

This is a fantastic sign, we finally have liquidity and the MM needs share.

Thinking I am going to go as in the UK.

That is the one moan of the week I allow myself used up. lol

I just dont get it, they have both recovered as a business, but IAGs share price recovery is a country mile behind RRS and the both make the vast majority of their profits on long haul wide bodied planes actually flying.

RR // IAG were at the same level around £1.60 just a 6 months ago.

RR is over £3 and IAG is £1.5 makes not logical sense at all!

That is great Jackpike but they have demolished the share price in the last 2 years chasing CC rainbows.

In 21 i got out in the mid 40s and tbh though I was safe ground getting back in at 17, but this has just dragged and dragged and the only people making money are the funders with their discounted shares and free warrants all at the other share holders expense.

As for Cambay valuation, it is really simple, they are being paid X in cash and X in work for 50% of Cambay so double it as they have that payment and the value of the work, plus still have the other 50% of Cambay. Then add something for goodwill/expertise, future profits, and carbon capture if your so inclined and divide the total by the number of shares.

It s big big range if you do it all, but you would expect the double what the new JV offers to pay for to be at the net asset floor.

Drilling to start probably late Q1 early Q2. .... what year?

You know nothing VacationFund...

And winter is coming Jk.

I have zero idea were to pitch my sell orders anymore, I would in fact I did bet that this RNS would given a significant multiple share price boost, and am honestly shocked it has not....

I think they have lost the audience, with the excessive delays and dilutions and need to work really hard to get new interest in this share.

This is going to be a hard slog upwards for the share price, it should of rocketed, but it looks like the main stream have lost faith, is the only explanation I can think of.

It is massive news really and should have at least drastically reduced the risk in people eyes, but no price, no work over value, how do you value it?

Indian main operator, may be a game changer on getting things done. Fingers crossed.

I also note a word or two missing about the lump sum payment, like starting the sentence with In addition, it is really not clear the lumpsum is on top of the carry value and certainly the bigger the lump sum the less carry value there will be would be my take on it.

If we assume it is. That entails 40 million usd Capex in the first year. Syn's share of that Capex would be 20 million usd, so the jv would be paying that for 50 %. So does that mean Syn is worth 20 million ?

No it means 50% of the JV is worth $20m, meaning Cambay is worth $40m, that includes a big discount for the risk.

After the deal, SYN is at least worth $20m for its remaining 50% of Cambay plus £20m which is the amount X is effectively paying Cambay for the other half.

I understand they are working on bring carbon capture to India as the priory for income in 2040 onwards. JV and Well updates can wait....

If they carry $20m of costs for 50% that makes Cambay worth $40m or £32m UKP... or a bit over 4 times the current capex of @ £7.5m

I had Cambay at $60m - $80m USD from a conversation with Joe 5 years or so ago when he affirmed my estimation of a share valuation as reasonable at the time.

I would happy with $40m with the risk they are taking on at this stage.

Fingers crossed for everyone.

I have to the end of 2024 before it starts to become a more pressing issue, like you I am looking for recovery by end of next year so there is time.

I think IAG will get to 2.60 once recovered, which with share dilution is the precovid level.