Member Info for CrustyPete

You would think so wouldn't you gogs but I also hold shares in a Tanzanian Gas producer who's assets in Ntorya are vital for a whole host of reasons within Tanzania and whose share of the income once producing has already been factored into the Govts own financial forecasts. That production income was forecast for April 2025 and yet one of the dependencies is the TG's (TPDC's) building of a 30km pipeline to connect the wells to a Gas Production Plant. This is now circa 12 months late from first plans and we still have not even seen evidence of a tender for the building work.... 😡

Sometimes the incompetence and prevarication of the TG is mind boggling.

The ship is sinking NS because it is weighed down by the costs associated with a top heavy group of BoD members who are seemingly totally incapable of delivering shareholder value and who are hanging on to their expensive sinecures whilst delivering absolutely nothing that justifies their wages.

But surely Toffers if anything of the like that you describe; application withdrawal, amendment, clarification, augmentation etc the BoD would definitely have been required to submit an RNS, informing the market and shareholders methinks?

I hope you are right gogs though my biggest concern is that stage 5 - Cabinet approval - in my past experience of similar matters (Oil and Gas comparators), Cabinet Approval ranks in the "how long is a piece of string" category.... gods forbid that there isn't a Government recess in the offing?!? 😉

Well just to clarify I will NOT be putting any more money in here but having lost 70% in no more than 8 months have no aoption to hand around and hope that things improve; that the BoD cut the overhead significantly, ditch the black hole that is Medway CCS, that Selan pull their finger out and get on with the drilling, that the drills are more successful than the recent workovers, that the BoD don't decide to drop yet another dilution only three months after the previous and that the Company up their game on an open and honest release of information to shareholders and the market.

But all of the above is more in hope than expectation.

I would broadly agree with that summation Gogs, though have no insight into how long each of those various stages are likely to take; you?

When you add the project costs of the Medway CCs project to Roland's Salary and benefits (which are only justified by the project itself) what is the projected cost of this entire project? It is ten years before this is ever going to offer return on shareholders investment and n ot even guaranteed - what on earth is the justification to continue this? It is solely a Rolandd vanity and pension project.

Well both of those companies that I mentioned just now have a healthy Market Cap and are showing me profits - it is only here at SYN that such self-interested, blatant, disregard of shareholders best interests has been so manifestly obvious and destructive. But it is difficult to see that as an outsider - it only becomes apparent once you get involved.

Absolutely Ssccss, I have holdings in other shares is in a similar predicament (Farmed -out and with no meaningful alternative oncome producing assets / projects) and they reduced their Board to four members of which 3 are NED's and earn a minimal wage until the Farm-Out starts to earn and income and a second where the Board members take "salary" 90% in options payments until there is sufficient cash to go back to fully salaried roles.

Hedgecutter no doubt they will be telling us that they are out looking for a JV / Farm-in Partner for the Medway CCS project because let's face it, whilst the whole project is a dead duck and a never ending money pit, continually destroying shareholder value, unless we have the Medway CCS project there is ZERO justification for Roland remaining in post and, let's face it, Turkey's don't vote for Christmas.....

But as was pointed out earlier there are 6 Board members and for the life of me I cannot see there being enough day to day activity to justify their continued existence. They are taking the pi ss.

But are currently sitting with a market cap of considerably less than their share of the $20m that Selan are spending on the Drill Plan. It would be cheaper to Buy SYN than fund their $10m, 50% share of the project.

Oh and of course, until Selan have been proven to be able to monetise the Cambay assets they are percieved as being worth next to nothing.

So our fortunes rest totally on SYN; they could buy us out for peanuts, delay and delay until SYN runs out of time and money, their exploration efforts in Cambay may prove grossly ambitious and optimistic OR all could go very well and they bail out our BoD....... whatever the outcome it begs the question of what, if anything our BoD are actually in control of? Actually it is struggle to believe they are in control of anything, except the continual fund raises that are necessary to keep their gravy train flowing. A gravy train that would flow a lot lot slower if fewer of them actually existed and fewer still if they dropped the Medway CCS money pit.

Well whilst that is the case dvh it is bloody galling that these incompetent ar sewipes on our BoD continue to get away with earning their "money" off the back of shareholders, when it seems they really seem totally incapable of doing anything to justify it. What do they actually do for the money we are paying them? Create shareholder value? Now there's a joke. If it wasn't quite so painful it would be laughable.

Pity about SYN then, that'll take some offsetting.

Agreed researcher, the company would have needed to plan and book their contribution sometime in advance of the event; if they have "new" data to disclose at that FUTURE event how come that we haven't released it to market yet?

But Ssccss why bother about an ISA - they are exempt from CGT but how much of a CGT liability will you get from SYN? Feck all! At least if it was held in a GIA you would now be able to crystalise a loss - for me that'll be about a £20k loss! My wife cannot do that with her £10k loss as hers is in an ISA. There will have to be a huge upside from here to even break even let alone create a capital gain!

Those held in my wife's ISA are down 78% since July 2024.... is that a record?

Needless to say that I am not exactly Mr Popular.

Has anyone had difficulty posting here this morning? This is the third time I have attempted to post the same post!

So fingers crossed.

I have to apologise and admit that I did not see this coming and certainly not so soon. Moreover I did not believe that the BoD would be able to get this raise away in the current circumstances. More fool me, wrong, wrong and wrong again.😖

I won't be putting more money in here, it would feel like throwing good money after bad, this is a "bottom drawer" share now. My worst ever investment, never before have I lost so much, so quickly; 45 million shares with an average above 0.080p 😡

I will be keeping a holding and for at least another 7/8 months if only so that I can attend the AGM and tell this BoD what I think about them.... a bunch of incompetent, self-interested, amateurs looking to bolster their own pensions at shareholders expense. What a bunch of fools.

More hyperbolic scaremongering from our chief bore, snorebollax....

Now filturd as a total waste of time and space.

Blubay - Helium is "natural" and it is "gas".....

Check out the Bluestar updates ion Link edin:

https://www.linkedin.com/company/blue-star-helium-limited/posts/?feedView=all