Member Info for gordon1237

Candlestick. It all depends on what is in the ambitious work program for the first year. We know that for the 50% they are transferring to the jv they are getting a free for the first years work program.

" In exchange for the transfer of a 50% working interest in the Cambay PSC, the Farminee would carry Synergia for the full cost of the agreed work programme which is to focus on the Eocene gas reservoir and which is to be completed within 12 months from the date of the GoI approval. The Cambay field would be under joint operatorship by Synergia and the Farminee, with the Farminee acting as lead operator. A lumpsum payment would be made by the Farminee after GoI approval of the working interest transfer, in recognition of past costs."

What we don't know is whether the work program from the presentation, with it's 40 million Capex is what been agreed. If so, that plus a bit of cash would be an excellent deal.

It was only down slightly haddy. Neither here nor there. It has already gone up a decent amount in the last few weeks. Maybe most have already taken a position. Very much doubt the mm's know any more than anyone else. Let's hope for an exciting week.

Sorry. Jack that's just wrong. If you don't believe me here's the definition of contingent Resources by no less than the Society of Petroleum Engineers.

" Contingent Resources are those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from known accumulations, but which are not currently considered to be commercially recoverable."

This means that yes the resource is recoverable in theory but not economically viable to do so. The cost of getting it out of the ground would be prohibitive.

I suppose it's not impossible that some of the contingent resource could become viable if the price went up a lot and stayed there but it's certainly not likely.

Joe used to talk about the 1 tcf contingent resource a lot. I commented that it was misleading in an email exchange once and it was ignored. At one time Roland did the same. It is noticeable that he no longer does so.

As I said the 206 bcf of recoverable gas is enough to make everyone happy. Atb. Gla.

Too right Haddy. It's been a long time coming. Gla.

That amount is enough to make Syn, the jv and hopefully us shareholders a good amount of cash.

Jack. The recoverable resource is 206 bcf. A contingent resource is one which is not commercially recoverable. All the profit calculations in the presentations are based on the 206 bcf.

Of course that is for the 10 well model only. The full field development will be 30+ wells.

Candlestick. That will be the total Capex including other infrastructure in addition to the wells. The Capex in the first year alone is 40 million usd.

Not receive. That's the value of a free carry for 2 wells.

Agreed Espen. I'd say that was the absolute minimum. Anything less would be problematic. Gla.

I have. Nice drop of Dalwhinnie. Atb.

What advice ? Lol.

When you get to my age you spend a lot of time waiting for energy. Either that or a nice drop of Malt whisky. Gla.

Lol.

Blimey yes.

0.1025 to buy.

0.1018 to sell.

0.7 % Spread. Never known it so tight.

Buys would definitely show as sells at the moment.

About deja vu. This time last week we were debating whether it would be Monday, Tuesday, Wednesday. Now we're doing it again for next week.

A very odd time to be bailing.

Agree Toptuf. Why everything is some sort of plot by mm's is beyond me. They no more know what is going to happen than bookmakers know what's going to win a race.

Yes Candlestick, I thought the same. Looks like we are waiting until at least Monday for that hopefully game changing rns. Gla.

Looks like 70 or 80 million of bkack trades are sells. Could be from the last placing. Even there you'd think they'd be waiting in the hope of a lot more.