Member Info for gordon1237

Ssccss. No idea what he is saying and I don't care.

Personal attacks are what he deals in.

Everything, I said was logical based on what we had been told in an rns. As it happened, VF was right and I was wrong. Unlike some, I can put my hand up and admit that. Seem to remember Sausage being called thick for saying installation wouldn't start mid August. Atb. Gla.

Thanks Toptuf. The rns was misleading, although as you say, inadvertently. I guess that they were obliged to rns the EOI even though they had no intention of accepting it. By not saying that in the rns they gave the impression they were considering it. Anyway, the important thing is the detail of the jv. Everything hangs on that. Mid to late October?

VF. You were right again. Briana just said that receiving an EOI does not mean accepting it. So fair play.

Yes VF .Agree absolutely with all of that. That being the case,why put it in the rns and give the impression it was on the table?

Anyway, onwards and upwards.

Nice little rise today. Let's hope it keeps going. Gla.

VF. Have received a reply from Briana and it would seem you are right. They have no intention of giving up 51%, which is good news. Always seemed surprising they would not keep a controlling interest.

That being the case, why on earth was it put in an rns? I it says UP TO 51 %, but that implied that control was up for grabs. She didn't mention operatorship. Awaiting, further clarification.

Nice li

VF. Rns of 26th April.

" Synergia Energy Ltd (the "Company" or "Synergia") notes that it has received a non-binding expression of interest for the acquisition of up to 51 per cent. participating interest, and operatorship, in its Cambay Block PSC (the "Expression of Interest"), in return for a carried interest in the drilling of a to be defined number of development wells."

Have emailed Briana.

Ok VF. Interesting. Hmmm not sure how that works. You'd think operatorship would mean control over the way the field is developed etc, otherwise what would be the point? May ask for clarification.

Thanks VF. Oh, way back? I thought you meant very recently. In that case, I would guess it was before they mentioned giving up operatorship ?

Not being difficult VF but If Syn only have 49% and give up operatorship, how can they have control ?

I believe you were told that, but how is that possible ? Atb.

Good grief Mannan. Cant decide if that's super optimistic or mega pessimistic !!

0.03 !!!!!!! LOL.

PJ . That is the question we'd all like answering.

I would say no less than 51%. It would seem the jv wants control. Could be more.

Only my opinion, but personally I would be surprised if it was less than 51 %, could even be more, if that's what it takes to get the deal over the line. The very fact that 51% has been mentioned means the partner wants overall control as well as operatorship. If that happens Syn will have little control over what happens next. Wouldn't be the biggest surprise if they sold their remaining interest in the not too distant future. Roland could then concentrate on his CCS ambitions.

Sausage. Yes, I did say a bit of a boost. Might be more than I expect. Not clairvoyant and glad to be proved wrong. As I said, a lot depends on the detail of the jv.

Talking of the jv structure. Does anyone have any thoughts on how it might work, given that we know that in the first year there is Capex of 40 million usd and a net outflow of 20 million usd ?

Will the jv cover all of that ? Will Syn have to find 10 million to cover half of the 20 million? Perhaps the jv will cover it to be repaid out of future

profits ? Will Syn have to give up more than 50%?

Maybe not, since operatorship is also on the table?

Briana did say they were trying not give up too much.

A lot of questions there. I Have no idea,and am not an accountant, so no doubt there are all sorts of options, I haven't thought of.

Personally, I think there may be a bit of a boost when flow rates are announced, but doubt there will be a major rerate until we see the jv structure.

We have a pretty good idea what to expect from the flow rates. They originally said 0.5 mmscfd which is what they got immediately after refrac. In the latest presentation they say the target is 1 mmscfd, so it will be a major surprise if it's not between 0.5 and 1.0.

Yes Sausage. I feel better for filtering already.

" I love the sight of green in the morning ". Lol.

Bit baffled by your thread title. Do you know something we don't ?