Member Info for CrustyPete

Most importantly AEX is a listed vehicle and hence able to raise money on the markets to fund risky O&G exploration and then to appraise at shareholders expense to then enable our cornerstone investor to buy those assets from shareholders at a knock down price. Shareholders take 75% of the risk (ARA 25%) continued fund raising and dilution (until the day in the future it can be covered from income) and then because we don't have the capital to develope it to production, sell out to ARA for a pittance. (the Ruvuma model)

Why oh why are they going to kill that Golden goose? No, they will perpetuate that paradigm for as long as they can. All AEX have to do is keep going until they can develope Kiliwani and if suffuciently lucrative) then Sell to ARA and then any future East African O&G exploration licences they can fund....

Sajad 163 million shares is, unfortunately, NOT 1% but only 0.01%..... that puts into perspective the size of the challenge to defeat the resolution.

I wonder which way our Institutional Investor will vote? Maybe they are happy holding private Ltd Company shares but I am buggered if I am.

"Enough to keep the lights on"? Eventually yes and also to fund the drilling of another 16 wells at Galactica to increase that future income stream considerably (if successful of course).

"we're very confident that we will have serious conversations about partnering and partnering in the broader sense."

What are peoples' views on the likely form of that partnering and partnering in the broader sense? What will it mean in terms of "dilution"? And dilution not necessarily in an equity sense but future income streams, balance sheet etc. What likelihood of a new equity "investor"?

Oh sorry, meant to say. FWIW I don't think we are far from the "bottom" - 0.20 -0.25p methinks.

The placing was circa £3m and 3% of the Market Cap and yet that MC had declined by over £45 million and 45% - the two are totally disproportionate and we are now even 20% below the placing price. To suggest that the current sp malaise can be blamed on the placing (as some do, or did) is just nonsensical.

I top-sliced 10m in July (too early) and September (about right) and glad I did. Bought some back last week but still have plenty of profits in the bank to buy more and still believe that they will get cheaper. And, as we all know, the longer we wait for that Rig contract and, more importantly, the CH1 spud date, the lower they will go.

No not quite, it is if you want your Nominee to vote on your behalf. So yes, get the proxy forms and complete them as you desire. If you haven't been offered them previously ask Barclays to send them to you - through whatever medium they offer. As I say, at Interactive Investor that is available "online" via logging into your account. When I was at HSBC everything was "paper based" which is one big reason that I moved everything elsewhere.

Ell, if you are to believe the Board for any subsequent "distribution" Lukewarm.

I am in no way suggesting that people shouldn't be voting as you suggest, simply that if the vote goes the wrong way, you need to know what to do with your soon to be "worthless shares" especially when you can no longer hold them.

You should be given the opportunity to vote by whosoever holds your shares as a nominee; in your case Barclays I would presume? Though how they do that will be peculiar to each nominee. With Interactive Investor you can vote online for any and all Corporate actions.

Did you not get that opportunity for voting at the last AGM>

Because Lukewarm, if SYN is delisted and you cannot hold them beyond the delisting it is sensible to be prepared for that eventuality and make plans accordingly.

Barclays will probably allow you to hold them but how you transfer them from ISA to GIA you would have to ask Barclays - probably SELL and repurchase outside of the ISA wrapper before the de-listing.

A GIA = General Investment Account - basically an "unwrapped" trading account without the peculiar tax advantages of an ISA or SIPP etc.

Don't take my word for it Gordon but it is my belief that, yes, either Sell them or transfer them to an alternative "account" - a GIA or SIPP, that will allow you to hold private ltd company shares. You may have to find a "stock broker" for that.

But, as I say please do not take my word for it - fortunately on the only two occasions that I have suffered this the shares have been in an account that allowed me to "keep" them. Contact your ISA provider.

But the principal reason to maintain a listing for the ability to raise funds through the capital markets - it has been evident for some time that SYN would struggle with this; billions of shares declining income and CCS projects with zero projected ROCE. That has long been the reason that I believed they decided to Sell the remaining 50% of Cambay in the first place - it was the only way left for the BoD to fund their ongoing salaries and Roland's CCS vanity projects.

SIPPs will be determined by your scheme details. SIPP rules allow the holding of private LTD shares but the SIPP itself may not - most SIPPS sit on retail investment platforms who will only allow holdings in things that can be traded on their platform.

Just over 1 bn of these traded today - and how many of those would be Buys?

Bottom fishing here is, surely, a dangerous game. Who in their right mind would want to end up a shareholder of a private Ltd Company - plus if your shares are sitting in an ISA or SIPP you will need to check whether, even, you are allowed to continue to hold them - ISA is a no-no I believe.

Well to avoid it passing two things will need to happen - firstly that a sizeable majority of PI's turn up and vote and secondly that Republic IM vote against it. I am not too sure how likely either of those two things are - typically PI's don't turn out and not too sure where Republic actually sit? Anyone?

293000 so far today.

Well this sale needs GOI approval and, if past performance is anything to go by, that could be a long, long wait........ 2027 not without possibility. Lots of water to pass under the bridge in the meantime.

Well as I suggested earlier and Gordon has underlined, once the company goes private what chance is there that any shareholder will see the benefit of any of that money? I am sorry to say the answer is NONE!