Member Info for Elegance

I think this could have been handled a lot better, they must have had weeks, months to sort out this deal and in the process a circular of information should have been created to hand out at the same time.

When is the circular coming out?

No interview?

Incorrect RNS delivered

No idea what the next step is?

No news other than a delay on the current wells

Monsoon weather likely till end of August

What will lift the share price?

Normally quite positive on SYN but I am struggling here, we need news.

Just let that sink in... 74% of share owned by the public so a refusal is an option.

Where is Espen? Had hoped to see his thoughts on this.

How has this figure of 14 million dollars been calculated?

Why was there not a clause in the initial 50% sale stipulating time clauses and penalties?

I wonder if we need Joe Salomon back?

Gordon, agree there will be a decline but some wells can and have carried on producing for 20 years or so, I would also suggest that if Selan produce multiple directional side tracks from the same well this could be extremely profitable?

Hedgecutter, Selan are already drilling and producing in the area, do you think they have not done their due diligence on this deal.

Even from one well producing a medium profit margin over 20 years would bring in over 20 million dollars in revenue.

Estimated Profit Range (Illustrative):

Low End:

If a well produces 100 barrels of oil per day (bopd) with an average net profit margin of 10% and oil prices are at $70/barrel, the annual profit could be around $255,500.

Mid-Range:

A well producing 200 bopd with a 20% net profit margin and oil at $80/barrel could generate an annual profit of approximately $1,168,000.

High End:

A well producing 500 bopd with a 30% net profit margin and oil at $90/barrel could generate an annual profit of around $4,927,500.

So what happened to the 30 well full field development plan and the £1 share price stated by the previous broker.

I am simply saying that the offer is low and we should hold out for more IMO.

Interview - No date yet but Zakmir has responded to a prompt on X about the interview.

You can bet there are discussions on this in the back ground to include Stockbox

Last week the Market Cap was 3 million pounds based mainly on the value of the 50% sold to Selan, this is due to the 10 million dollar carry of the field development plan.

This week we are told that we will receive 14 million dollars for the remaining 50% but that this will write of any previous agreement for the previous 10 million carry... What people seem to be forgetting is that this is only once the GOI agreement has been signed off.

What this means is.. until the GOI sign of the latter agreement we still have the 10 million dollar carry, we still have the revenue from any sales and this must have an affect on the overall sale price of the remaining 50% to Selan, It would be mental to sell the remaining 50% if Selan suddenly hit gas and oil with the first well due to be drilled in the next 10 weeks.

my best guess would be that the minimum we have is somewhere in between 0.005 -0.01p based on existing asset, potential asset and an offer on the table.

Begs the question if Roland went out to get any other offers on the table and if any arrive from rival companies if they strike oil and gas.

Lets not forget they are already working on C63, been over a month since this one was started.. Why the silence from Selan or SYN on this one?

Selan will want to push this deal through asap before any good news comes out.

Also begs the question if the first 50% was worth 10 million plus bonuses... why was the deal not worth 20 million plus bonuses for the 100%?

I think shareholders should demand more.

>>>>> Could be a frenzy if Selan start buying SYN shares to stop a revolt from existing shareholders .. now there's a thought

Gordon, Zakmir on the case with SYN interview should bring about a further boost.

Haddy it’s 14 million dollars or 10.2 million pounds regardless of what the market cap was at the time either of us seen it and that included a Roland.

Can’t take away all of the original market cap because the asset is still ours until GOI sign off so it still has value.

You can bet your last dollar that Selan will want to move quicker on this deal than on any of the wells IMO because if anything comes from that first well before shareholder agreement then of course there should be a re-rate of the asset.

Fossanna IMO it will be the same increase as Friday base on the percentage increase not the fraction of the penny.

Good shout to keep an eye out for ZakMirs comments on Sunday.

Thursday we were sat on a market cap of 3 million pounds, Friday morning the RNS dropped that we were selling the remaining 50% for a further 10.3 million pounds.

So market cap over the period is around 13 million pound.

Whilst waiting for GOI sign off we are still due all revenue from any wells at 50% …. But what if Selan hit gold with the well due in September? Or the existing work overs?

Lots of unknowns and I’ll bet that Selan will be reluctant to give out any good news which might affect the proposal.

Either way, 13.2 million / 15.6 billion shares puts us around .084 of a penny mark which is nearly 3 times where we are at the moment, if Selan hit any significant reserves then this will increase revenue and bring in to question the current valuation.

I expect Monday will have a similar increase in share price as it was on Friday.

Happy to be corrected.

At least that rules out a further placing.

Span, 5 million would double this mornings share price, literally double it and whilst we are waiting the share price is on the up.

Only thing I would question is, is 14 million dollars enough as that while’s out the previous 10 million carry?

Roland better have something else up his sleeve other than just current exspenditure being paid off?

Be interesting to find out when you need to hold and how much that dividend will be?

I don’t understand why people are selling at this level when you’ve already been told by Rowland that they will be receiving monies which will make the market cap six times what it was this morning.

Looking at the comments on X “Upon acquiring the remaining 50% Participating Interest, Selan shall be relieved from all obligations under the FIFO, including the Carry obligations of US $ 10 million and production bonuses of upto US $ 9 million.”

We have not sold yet which means we are still a going concern and are still entitled to the 20 million carry.

14 million dollars for the remaining 50% should be looked at in accompany to what ever comes out of the ground for the workiber program over the next 18 months.

Question is, should share holders hold out for more? How was the figure of 14 million arrived at? Based on Selans sluggish efforts so far? I believe this company could be worth far more and shareholders should be given the choice if they wish to accept or hold out for more? Who agrees to the first offer?

I think the market cap should be closer to 20 times what it was this morning, many of us bought in at .2 and above.

Crusty Pete, I can only hope for positive news but cannot deny it could equally be negative, one has to wait and see

.

What the board should be doing is making every effort possible to influence Selan, I believe Roland has attempted this during his last visit but more could be done in my opinion. With Selan being the lead operator, they should be providing regular updates not just to their shareholders but also to Roland and these updates should be made public once received, a complete blackout of any real positive news from Selan since last year is not acceptable.

One can only assume that positive news will be received soon from either existing wells or the start of new wells in September, if a placing is due to take place prior to that time then we could certainly do with an increase in the share price to minimise dilution

GW, at what point did ukog get $20 million as a free carry for drilling anywells? Let’s be honest, ukog never drilled one successful well, not one.

Broadford Bridge was a total nightmare from start to finish and even had the Billionaires Bouygues Brothers running for the hills after investing millions into our company after the director said “there’s oil, I’ve seen it touched it and smelled it “but it was in tight limestone and they couldn’t get it to flow anything more than a drop.

Synergy energy is totally different, it’s producing oil and ga, I suspect in the next 3 to 6 months we will see this share price absolutely rocket

SP Angel are used as a broker, advisory as well as used for valuing a company, perhaps Selan may want a bigger slice?

Could also be in connection with UK CCS? Surely news is due on this?