As mentioned by others, Roland clearly has the confidence in the company and the flow rates from the well over the coming days as he would not set up a Company Investor Presentation day otherwise.
We are talking days to get flow rates, a week or so to get stabilised flow rates and less than a month to gather up all the data prior to this presentation which may include the Joint Venture information.
We need to get some decent questions sent out, both for near term and long term at Synergia Energy.
Roland did very well for existing shareholders when he worked at Star Energy selling it for a huge profit to Petronas.
Looking forward to finding out who this blue chip company is and just how much they want from Synergia. Appreciate it might be 50% now but no one knows what will happen further on down the line.
Time to register and submit your questions boys and girls
https://www.investormeetcompany.com/synergia-energy-ltd/register-investor
Watermelon, if I may...
1) How much BOEPD? The question is irrelevant as this is likely to change drastically in the next week or so.
2) Cash burn is $1m a month? Really? How on earth do you come up with that figure??
3) When is the $650,000 loan due for repayment? Not for a while yet, extended to 9 December 2023 and 9 March 2024 respectively.
4) Why does the CEO have so little invested here? This is a fair question, but not all directors invest in companies they manage.
5) Thoughts on the 1 billion warrants outstanding? Thoughts on the potential JV?
6) $2.5m on director salaries, bit too excessive don't you think? All depends on flow rates in the next coming weeks and a potential JV. If secured I think the directors are worth every penny.
Zag, bless you, I am not about to open my portfolio on this board, the point I am making is that if you have lost 13k, are down talking the share that you hold whilst it’s on the cusp of potentially receiving a JV from a blue chip company that could be life changing for its shareholders, then the advise of buy lower vs hold might not be the advise I would choose.
It was only a week ago when thinking of a valuation that we were taking in to account the millions of debt that SYN had inherited which they will be able to off set against tax on any profits.
If this proven method of extraction works using the jet pump then it will all be down to flow rates as I would assume everything else has been estimated/forecast, god knows those waiting in the wings have had enough time now to do their own due diligence.
Good morning Gordon.
Whilst I think your sums would be correct below in working out what the value would be for the two Wells, surely this amount would be added to the current share value though? As it is in addition to what money and value SYN already have. That would mean the proposed share price being 0.3p or just short of. though.
I do hope that private investors are not naive enough to think that it will take until the beginning of September for the share price to move drastically, news won’t just appear on the day, there are always loose lips on site, even if it’s from the labourer or the top management, market makers, always get to know before we do, there will be hints of flow rates and news will leak.
I would keep an eye on the trades over the next couple of weeks
Quite right eagle, 0.8p… but:
When a blue company is waiting in the wings with a potential JV on offer.
When the plugs have been milled out and they have successfully removed the condensate.
When there is more money in the bank all be it with more shares
When the jet pump (on site) is due to be connected in two weeks or so.
To much of the unknown has been eliminated, we are now on the up.
Can’t see this dropping much lower.
Why unearth do you think it would get to .10 when the likes of Republic are buying placing shares at .11, they would only be topping up sub .11, so doubt very much that would get anywhere near that especially with the jet pump being installed within the next two weeks or so. Crikey… I’ll even top up at sub .11
Good point regarding the 40 million worth of losses to offset against future profits.
I’m pretty sure that once you have 20% of the company shares, you definitely get a seat at the table in the boardroom when decisions are to be made.
I’m still waiting to see if Espen has reached 5% so he can at least get a peek through the door
Not that I have a conspiracy theory, but.. Is there something more than just finance going on here?
If Republic Investment are currently on 16% and then splash out £350,000 for more shares just what percentage are they now holding and does that make them in a key position if there’s a takeover? Let alone a JV? What’s to say the blue chip doesn’t want a slice of SYN?
I really do not understand why someone would choose now to sell SYN shares?
Kits all on site, we have waited for this moment...
Well previously producing gas
Production tubing and plugs removed
Jet pump soon to be installed - proven technology!
6 wells, all be it 2 potentially damaged to be flowed from the jet pump
Current share price is very low considering everything that we have to gain
Blue chip company already signalled interest via an RNS in doing a joint venture based on the flow rates
Potential for other blue chip companies to make a bid
Indian government potentially on board with SYN with funding to promote other wells as recently reported
Look...Don't take some chaps personal opinion on a chat board.. Rather, read the RNS where it states a blue chip company is interested in doing a JV with SYN and we are literally about to flow using a jet pump.
Not a chance that I am selling.
What's not to like?
Gordon, you might be right and I’m certainly not arguing otherwise, I do question though, once that huge column of condensate has been removed, would they not test it to see if the volume of gas coming out is enough to bring with it the continued smaller amount of constant condensate which is then removed by a separator at surface level? I assumed this would be tested to see if it were possible as we might not need to factor in a continued use of jet pump on every well? I guess it all depends on flow rates and or, if flow rates are vastly improved using it then it pays for it self to have one.
At one stage they must have thought this possible otherwise a jet pump would have been factored in to the original field plan?
To state “installation of jet pump has now resulted in successful removal of condensate column, jet pump now disconnected. Well is now free flowing from 6 separate zones and will update on flow rates once a steady rate has been found”.
I would presume that the above description or something similar would come first, prior to then the next RNS which would detailed down the improved rates with the jet pump reconnected.
My reasoning behind, this is the very fact that they have managed to clear the column of condensate, and the successful removal of the plugs without any problems is worthy of an R.N.S IMO.