Member Info for CrustyPete

Will SYN still exist as a quoted entity by the time of the next AGM? If so that will be something to behold!

At least with the prospect of the workovers and the new drill programme there was some (though distant) light at the end of the tunnel - I don't see where the hell that comes from now. Some sp tick up potentially but no way back to the previous levels.

I have seen one delisting and closure of an AIM share holding over recent years with a view to the assets being redistributed to shareholders; however that is still in progress after years and the costs of delisting and closure have eroded much of the value of the assets....

Is there still some life in this old dog yet? If so I am struggling to see it - simply pick you exit price and move on, methinks? It'll be a long, long time until that $14m hits the balance sheet and we know what time does to an sp with little or no news and operational activity. Medway CCS?! No doubt Roland will be tellin g us that it will be our saviour -mmmm, even so, when might that be?! Sorry but I won't be hanging around for that.

Still holding a few just to attend that AGM 🤬

So BB fwiw, in my view the "DoH" and contingencies that you reference below are totally associated with the License Award (an inevitability with time) and less about the market access factors other than that they are awaiting an "offtake" JV, partner and agreement to provider them with that "access". The "commercial" aspects that you allude to (costs/efficiency of production and the scale and nature of the underlying asset) will not impact the transition from 2P to 2C, resouces to reserves but simply the "size" of those reserves and commerciality - currently it seems to me that it is the DoH factors that are holding up that transition and the reason that the project is currently DoH.

Sorry for clarity when I said "the expectation was for NT2 to start to coincide with pipeline completion..." by which I meant that NT2 workover would complete at about the same time as the pipeline completion.

3X the share price that it was before the RNS, yes but still down 50% on what it was when the Farm Out was completed.... shareholder value destruction par excellence. Oh and by the way that $14m will NEVER be fully factored into the NAV nor shareprice; if we see half that in the sp I will be pleasantly surprised.

EE I would agree with you but need to point out that "construction has actually started" could well, yet, be quite some time. Originally as I understand it and, when the pipeline construction was due to complete in Q1 this year, the expectation was for NT2 to start to coincide with pipeline completion; the BoD not wanting to set up NT2 for production only then to have to wait months to be able to connect it to the pipeline. Now, we are told, pipeline completion not expected for 12 months! So does that mean that NT2 "workover" will not be started until pipeline completion is within touching distance? Similarly we know that NT1 workover is expected to follow CH1 as both projects will utilise the same rig. So the question is, will all three projects be executed in sequence or will NT2 be done in parallel with either CH1 or, more likely, NT1.

So if completion of the pipeline is not expected until 07.26 we could still be waiting until the turn of the year before operational activity starts.

Gordon, my view fwiw is that Roland fimally understood that there was going to be little if any income coming from the workovers in time for them to stave off another raise, which may well have been impossible anyway, and as a consequence were compelled into selling up if only to keep their salaries rolling in.....

If, as looks likely, SYN's only remaining assets are $14m (at some fairly distant point in time) and the long term money pit with no guaranteed upside that is Medway CCS who on earth will invest in this? How long will $14m last under Roland's leadership? And what will the return on that $14m be?

Past performance form this BoD, would suggest f**k all

And what will that media coverage say?

Now SYN's only assets - $14m of cash and a useless cash drain called the Medway CCS - do you trust Roland to manage shareholders money effectively?

What happens from here? Delist, sell up and distribute the cash to shareholders?

I only need another 300% to break even on those I still hold :-)

Buy Cyrox, typically those trades at the extremes of the spread are for trivial, tiny amounts and the MM's will use the full spread if only to make some pennies on the trade. Larger trades have been going through well inside the official quoted spread. And yes, punter is right - there is very little volume and no momentum currently, so the MM's are playing it safe....

Elegance, you are making an assumption that any news will be positive. I do not share that view - there is every likelihood that there may be further delays and, or, that the workovers are no more successful than the last two; that is, a dismal failure.

Don't you believe it AA, you can bet that in Rojo's parallel universe it is all still a pipedream.... after all, Rojo always knows best; even when he's making it up.

So what happened to all the "excitement" generated by the 2nd June RNS? That news was supposed to be the start of the resurgence in SYN's fortunes and sp but here we are just one month later and we are back where we were before that news. The initial "Knee jerk" reaction followed by the stark reality.

We need the new well programme started and progressing positively and confirmation that we won't be diluted into oblivion before we get any meaningful recovery.

Dvh there would not be a "fire sale" - typically in the event of an insolvency the operator of the license would take automatic ownership of the minority JV holding.

Would be good to see an update on the plans for NT2 operations in the light of today's news and timelines for both. News ahead of AGM would be great but, no doubt they will be able to give us some indication of this at the AGM in three weeks time.

All of a sudden all of us that were "buying on the dips" look to have been totally vindicated. Up circa 75% in the space of a few months. Pity that the "know it all scaremongers" didn't do the same - they might now be close to "break even".....

So where now your complacent arrogance, rancorous old twit? I wonder what your sage, prosiciuto would have to say now RoT? I suspect the same old negative, scaremongering ar se gravy.

I see the green boxes are much in evidence today - no doubt our resident smart-ass and narcissist pontificating on things he, self-evidently, knows - absolutely - nothing about....

In truth mj, my initial comment was meant very much "tongue-in-cheek", so apologies; in retrospect, not at all funny....

More common? Only for those that are... 😄

Maybe SW is all ramped out?

If only? We can all live in hope 🙄

"Fantasy", really mj152? And "spelt" is spelled "spelled" mj, unless you were suggesting that in fact "spelt" is not, in truth, an ancient grain and was totally made up?