Member Info for gordon1237

Eagle. We are all guessing really. Given its now 10 months since the jv was expected in a month or two and 3 months since we are told they were negotiating how many wells the jv would fund, you'd think once the flow rate was confirmed it wouldn't take too long to finalise the details.

But hey this is Syn, so yes we are guessing as always. Gla.

The price is only relevant insofar as it effects the dilution. That is to raise a certain amount, the higher the price, the lower the number of shares required which means less dilution.

I would hope we will hear that a jv has been agreed at least in principle in the next couple of months. Who knows how long before it is ratified.

Steven. The decision is yours of course, but I would be surprised if it isn't higher, perhaps a lot higher, come the jv news than it is now. Nothings impossible of course, but it would have to be a terrible jv deal or no deal for it drop through the floor.

Placings normally automatically produce a drop of at least the amount of dilution, in this case 8% So a drop of 4 % isnt too bad. Let's see what happens tomorrow.

And the point is?

Sausage. The placing is going to be complete by 7th August, so definitely well before the final flow rates and jv.

Pysblorw. Roland said to me in an email last year that he was hoping the price for 50% would be a free carry for drilling the first 2 new wells. That would be in effect $20 million for 50%. They said in an rns earlier this year that they were negotiating the number of wells to be drilled in exchange for 51% plus operatorship. If all goes well it wouldn't be the biggest surprise in the world if they sold the remaining 49% at some point.

Hugop. Yes agreed. The really important thing is what the jv values 50% at.

Republic have always supported Syn throughout the time I have been here. Previously they have always sold their holding back down again. Their current holding is the highest I can remember it, so we hope that is significant.

Hugop. It's actually $125 million, since they took over gspc's share of the losses. Only comes into play if/when they start to make profits. Hopefully in the not too distant future.

Caddy. Absolutely spot on. Come November the number of shares will have doubled during Roland's tenure. Obviously would be unrealistic not to expect dilution during that time, but fewer delays would have meant less dilution.

During my 8 years here, the number of shares has gone up 16 fold.

When the convertible loan shares are added probably in November, that will take it to just shy of 10 billion shares. That's 15 % dilution from here.

Yes sausage, 12 % is about right. Not that big a discount. More importantly it's another 8 % dilution with about another 10% to come from the convertible loan.

FFS. So much for being fully funded and the work being done within the existing budget. They have the gall to say " very pleased to announce".

I know they saved quite a bit of money by delisting from asx. However in one way it's a shame. They are now only required to do six monthly reports within 3 months of the period end. So the one around the 22nd September will cover up to the end of June. Similarly the mid March one, was up to the end of December. They do sometimes include significant events that occur after the period end but it's mostly 2 to 3 months out of date. Hopefully we'll get some good news well before the report.

I asked Briana when the next report was due. She replied that it would be the annual report in September. It was on 22nd September last year.

Ah yes. Remember when he was ramping like b**ggery, saying he had almost enough for a

TR-1, (200 million plus) then a couple of weeks later saying he had sold up. Then a couple of months later he had bought back in at the lows.

All perfectly credible of course. Lol.

Sausage. The production tubing is already re-inserted. Agree the next photo should be at C19z.

I think it would be very difficult to trade this. Certainly in recent times. Since the start of May it has been in a 0.02 range.

Spot on sausage.

I didn't mention it because, I was answering Wolf's question about how long the next steps were going to take, and thought a guesstimate might be of interest to others. It is the final improved rates that are going to be of the greatest importance as far as securing the jv is concerned. Obviously, the initial rates will come first and are needed to give the DGH the before and after data they want. Hopefully, once cleaned up C19z will provide some much needed income in the interim before the new wells next year.

I too am not that bothered about another few weeks, now it looks like we might finally be on the home stretch.

Can I suggest you read my posts properly? It's quite clear my guesstimated time scale was referring to the improved flow rates with the pump installed. Of course we will very likely get the gas rate from 77h and oil rate from C19z much sooner.