Member Info for gordon1237

Thanks for that Conger. If Syn's reputation has been affected ,that's not down to me, but the company. Do you really think no one else noticed the mistakes and the massive reduction in projected profits, for which they have now knowledged that the real reason is adopting a more reasonable gas price ? I happen to think that accuracy and truth matter. I think it was as obvious to you as it was to me ,the real reason for the drop in potential profits. I don't believe for a moment that anything I or others have said on here will affect the sp and am surprised that you appear to. If anything has affected it,it is the constant delays of many many months etc.

I do agree that we should now focus on the future.

I think you're right Steven .However much we do ,or dont know,or think we do,we have no control over events . Doesn't stop us commenting though . Lol.

Just over one million traded . Depressing .

So where are these mythical institutional investors that certain posters have been talking about for years ? Gla.

Seems like a fair summing up Sausage .

Why would they ? It's only the decline rates on the graphs that have been amended .

Ssccss .Agreed. Quite honestly when I pointed itout early this morning ,I was assuming that plenty of others had already done so. It would seem not.

I must admit ,I wasn't sure I'd get a reply, let alone a reasonably detailed one, or I might have posted my email queries this morning .

So ,the correct decline rate is now 30% ,not 40% . Good to know.

The cash flow including Capex is positive after 2 years only with the upside case, it's actually 4 years for the base case, but let's not be too picky. They have corrected some misleading things .

Sorry last two paragraphs were out of order .The final comment was mine not Briana's

The correction appears to be in response to an email I sent to Briana early this morning . I asked about the error on the graphs , tax, the change in future gas price ,and the statement about the field being self funding after 2 wells ,which didn't tally with the graphs

This was her reply.

" The two primary factors that affected the Cambay filed development NPV are the effect of tax and GoI take and the high pressure gas price. The LNG price has fallen since the pre-tax, pre-GOI NPV calculation was shared on the RNS of December 13th 2022. The Government of India take is subject to a complex formula and is on a sliding scale depending on the size of the capital cost pool. We have a cost pool of c. $125m so the take to start with is low but ramps up quite quickly as we ramp up production.

Apologies for the error on the slides regarding decline rates. I can confirm that this has been corrected and both the website/twitter have been updated.

The Base case cash flow is positive after two years taking capex into account."

Pretty much confirms the original impression about the drop being mostly due to gas price change .

The correction appears to be in response to an email I sent to Briana early this morning . I asked about the error on the graphs , tax, the change in future gas price ,and the statement about the field being self funding after 2 wells ,which didn't tally with the graphs

This was reply.

" The two primary factors that affected the Cambay filed development NPV are the effect of tax and GoI take and the high pressure gas price. The LNG price has fallen since the pre-tax, pre-GOI NPV calculation was shared on the RNS of December 13th 2022. The Government of India take is subject to a complex formula and is on a sliding scale depending on the size of the capital cost pool. We have a cost pool of c. $125m so the take to start with is low but ramps up quite quickly as we ramp up production.

Apologies for the error on the slides regarding decline rates. I can confirm that this has been corrected and both the website/twitter have been updated."

Pretty much confirms the original impression about the drop being mostly due to gas price change .

The Base case cash flow is positive after two years taking capex into account.

Gateboy. Yes ,I know ,but I did say ,what is now considered normal . In another year or two they will doubtless be lower again. Whether they go up or down ,doesn't seem to do the sp any good . Before ,someone accuses me of feeling sorry for myself ,that is not the case . No one forced me to to invest and thems the breaks .

For a good number of years ,I have nursed hopes that this share will return to a decent sp. Used to dream of maybe a quid, then 80 or 70. Now down to fantasising about 60. Have now reluctantly come to the conclusion that even that ain't gonna happen anytime soon . Really thought we would see a good rise with these relatively high interest rates . That hasn't happened ,so what will happen when rates return to what is now considered normal ? Yes ,the dividends are nice,but they don't even compensate for inflation ,let alone capital erosion . I have an average of 52,which might not seem too bad , but that is over many years ,and the real terms situation is much worse .

If they continue the buybacks ,might see a good increase in about 10 years,but by then I will be too old to care . Lol.

Yup. Thoroughly disillusioned . Too early for a beer ? Lol. Gla .

Quite right Ssccss . On the 9th March they said

" The Company aims to have the jet pump solution for the C-77H well operational in the next 90 days.". If they'd included a contingency and said 90 to 180 days , that would have given them until the 5th September and they could have claimed to be on time . Lol.

Kaltersee . On the website select Investors on the drop down list. Then overview and you'll see the presentation .

So that's three and counting . Probably a lot more below the parapet.

I presume that's a joke. Lol.

Thanks Alan . At last .

Hi Callum. Yes I fully appreciate that CCS could be huge and ultimately bigger than Cambay. I was talking short term and the fact that unless Cambay is successful there will be no cash to invest in CCS. I know you and Espen have said you are here for the long term ,so fair enough, but I think you are very much the exceptions. Personally , I am almost 75, so it would be ridiculous to be thinking 10 years ahead. I can't imagine any news on CCS in say the next year or so which will give a significant sp rise .

Yes it did reach nearly 0.5 briefly on the gspc news. Unfortunately ,there are now double the number of shares ,so that's equivalent to 0.25 maximum now .

At the risk of being accused of being repetitive ,I can't understand why more people aren't annoyed about potential future Cambay profits being downgraded by a factor of 10 or so. Hopefully, still enough there for a decent profit and we find out in the next couple of months . Atb.

Sausage .I assume you meant cant rather than can?

Just realised that the other day when you said institutional investors you were referring to the CCS aspect then. Nevertheless , without a successful jv for the gas, it's hard to see CCS going ahead .