Member Info for CrustyPete

"Presumably it can only mean greater cash burn." Exactly, gordon; with only SYN now funding the project this raises the spectre of another cash raise in the not too distant future, or slowing / suspending progress on the project.

What concerns me more is the question of the commercial viability of this project. Harbour Energy is a huge company for whom the outlay for this project would have been a mere trifle, so why are they dropping out? They have no confidence in the project? No confidence in the SYN BoD? If Harbour Energy have no confidence in it who or why is anyone likley to Farm-In....?

I suspect the BoD will keep the pretence of this being a viable and significant project but I firmly believe that eventually they will accept the inevitable only then to inform shareholders that it has been ditched having spunked huge sums of shareholders money on it and diluted them to death.

I wonder if they would have raised that recent £650k for the CCS if they had known then what they know now? Or more concerning, did they know what was coming but continue with the raise anyway?

Oh McNol, he successfully achieved that months ago....

At least Herbie has now shown all posters and readers what his agenda is. A bitter and twisted shareholder with a grudge and a huge chip on his shoulder. Thankfully 99% of posters will recognise the motivation behind his comments and hence ignore them as pathetic attempts at vindication and vengeance. Emotion colours his every word and invalidates them as rational thought.....

Transparent and pitiful.

GHD I note the comment " the deal will refinance last year’s US$150mn facility" and so would not appear to be "new" money. I wonder if and, if so, how much of the original $150m has already been lent and if there is capital still available to the likes of He1?

Ooops, sorry McNol, I now see you have already been there..... groundhog days here recently, simply awaiting news.

GLA

Or even "Thrupence"?

May have some relevance and read across for "you know who" Perks?

"set to be longer than they might actually need to test whether the Mab does what they expect it to do".

That may be true but the issue I was pointing out is that the timelines are as likely to be driven by considerations outside of the above - practical and financial considerations are just as likely if not more likely to determine the timing. So yes EE it may come early and then again....?

It was meant as a rhetorical question EE but, hey, never mind..... 🙄

And if so EE then what are the other party waiting for? What is it that they do not yet have sufficient confidence of that they hope to see before the year's end? Maybe it is simply a process of pushing any associated payments into a different tax year?

Personally I think that sp rise will be triggered only once we have the Farm-In details and not much, if any, time before. Surely we can't have long to wait.

Moreover the agreement for the 50% Farm-In to Galactica commits to using any revenue generated from the initial development wells is to be re-invested into drilling the following nine exploration wells. Hence, in my view the reason that whilst there might be revenue generated from Galactica in Q2 2025 it will not flow back into He1 coffers unless there is a surplus, which is unlikely until the exploration wells themselves start to generate cash.

"We all have the same data" That maybe true london_ but with totally different agendas...... and when does honesty, balance or tolerance or come before self-interest and hidden agendas? Unfortunately, not often enough.

Yes Bullfrog but with infrastructure in place at Mnazi Bay and Kinyerezi, bearing in mind the general understanding that ARA/AEX will be sharing a rig with M&P, where will TPDC see the priority for drilling? Which of the two options Mnazi Bay and Ruvuma will give them the biggest uplift in the short term? That is likely to determine who gets first use of that shared drill methinks. NT2 isn't part of that equation of course as it does not need the rig we are told, so no reason why that should be impacted - nor the pipeline build. We have been told by the BoD that CH1 will follow NT2 but (assuming the rig is even in country) no reason why M&P could not drill in Mnazi bay whilst the pipeline and NT2 were iunder "construction" - weather notwithstanding BUT as we discovered some weeks ago Jan - Mar not rainy season up North in Mnazi Bay - unlike Mtwara.

I don't think it is a question of the TG doing a U-Turn Roger - more a question of (assuming the feasibility study is compelling) whether they see the proposed development of 20 - 30 wells and supporting infrastructure as a positive development and that the ESIA confirms that the "benefits" outweigh the environmental and social impact. I think the kudos and respect associated of Tanzania becoming a Helium producing country will be perceived as the overriding consideration.

Thankfully Kinyerezi is supplied by M&P and not Orca. Otherwise that would be something of a bugger's muddle...

Thank you lucky stars that it will only be 45% GW - I am already at 60% and counting..... averaging down is an inevitability if I am to ever get that back. The only question is "when to bite the bullet"?

Fair enough JPP, to use quote marks as I did was incorrect and inappropriate - agreed....

AGM in two hours. Exciting eh??! Well, NOT methinks. Hope I am wrong.

Are you at the AGM Gordon? Roland can't ignore your questions then!

Let's hope there is some positivity exuded by the BoD and some explanation of their collective strategy to restore Shareholder value - it is difficult to see what it is currently and that is why SYN cannot attract new investors.

CCS?! What's the plan? Where is the funding coming from? Where is the shareholder value coming from?

Cambay what's the timeline, what are the realistic expectations and what's the upside?

Why did they tell us "no funding required in 2024" and then announce a Cap raise?

Come on Roland we need answers!!

"sp catalyst"....