Member Info for dvharrison

Copper prices now over $10k and gold above $2,300. Just need TK finance and we'll be well away....

Prices now at $10,121. If only we had a copper mine.....

Yep, eyes on the prize...

· Both Synergia and Selan are focussed on developing the Cambay PSC Eocene gas and gas condensate reservoir which contains independently certified 2P gas reserves of 206 BCF (as at 1 June 2022)

· The joint venture unlocks the path to a full field development of the Cambay PSC with a sophisticated and experienced operator-partner

· In exchange for the 50% interest, Synergia will be carried by Selan through an agreed US$20 million work programme ("WP") comprising 3 new wells focussed on the Eocene reservoir and 3 well work-overs

· The WP is to be completed within 18 months of the later of GoI approval of the WP or the award of contracts for the WP, extendable by a further six months in certain circumstances

· Synergia will receive a cash payment of US$2.5 million immediately following GoI Approval. The Company proposes to apply the proceeds of this cash payment towards working capital purposes.

· Synergia will retain a 50% interest in the Cambay PSC and a 50% share of the future production and revenues.

Bid has dropped to 0.1205p...

'Saudi alone is likely in the medium term when up and running to be worth well over a billion$. Gla'

KEFI will have been bought out well before then in my opinion (I was a shareholder in SHG before it was taken out and missed out on substantial future profits). Its all a scam and peeps stand little chance.....

Next week confirming receipt of the $100,000?

RNS 2 Apr 24: 'BIO is paying a non-refundable upfront fee of US$100,000 within 30 days of signing the MoU for a 120-day exclusivity period to complete the formal legally binding agreement'

There are clearly some buyers who believe that GOI JV approval is going to happen shortly....

I hear that Tom W has also added to his holding today after talking to the MD about the latest announcement!

Interesting how the 'bigger' trades get delayed before showing on the LSE site. My latest purchase not yet showing....maybe later

I think most here recognise we were sold a pup with LCCM. Redmoor is very slow, almost non existant progress. Cobre keeps the lights on and pays our great BoDs remuneration!

Thanks for sharing the link which suggests things are happening behind the scenes. Just need the money!

Looking like 0.5p is approaching faster than I envisaged. Hopefully this isn't a prelude to Harry confirming the withdrawal of the 2nd bank from the finance consortium. A plan B won't look pretty!

Ever since TW 'tipped' an investment in this company (target 4p+ for 'quick' return lol) the share price has gone in reverse. Nobody really knows what is going happen when investing/trading AIM shares.....

The delays in the 2nd bank sign off on TK finance will put a lot of potential investors off putting money in here atm imo. Harry ought to update shareholders. In the meantime the SP continues to drift down towards 0.5p.....

Blimey, you spend a lot of time on this bb for someone (presumably, by the negative posting) not invested here. Need another hobby....

Is that June this year? lol

GOI approval triggers the immediate payment of $2.5M to SYN so NO additional fund raise is required. The 'problem' of funds being required for 'working capital purposes' arises if there is a delay in GOI into the Autumn imo....

Sellers sub 0.54p is not looking good given the delays in 2nd bank sign off. Harry now gone quiet having (successfully!) pumped the share price to get the Placing away....

Nobody sharing the MD's enthusiasm?

Dr. Kerim Sener, Managing Director, commented:

'We are thrilled to announce a significant milestone in Ariana's history......'

The timing of the GOI JV approval is crucial in that it triggers the immediate payment of $2.5M to the company for 'working capital purposes'. If there is a delay to this approval, likely in my view due to the lengthy election process concluding on 1 June, funds may well be required to keep the lights on so a (discounted) Placing should not be ruled out. My 'guess' is GOI approval end of summer/early autumn and a fund raise at around 0.1p. GLA (0.14p is complete pie in the sky pre JV approval imo)