Member Info for gordon1237

Zak Mir may be all about small investors but then Syn is a (very) small company. We are hardly likely to get on the evening news. As for employing a firm with contacts, when Roland joined, some on here said that with his contacts he would have a jv lined up and ready to sign.

I believe that if the news is good enough, this sort of promotion will be good enough to give us the rise we are looking for. That is what happened twice in April 2021, once with just an rns and again when Joe gave his interview, and close to a billion shares were traded. Atb.

Sausage. Agree about ccs. Profits from that are a decade away. As for promoting Cambay, with the right jv, it won't need a huge effort to promote it.

So why do you think the promotion didn't work today Jack? Thought we might have got a modest rise, not a 5% fall. The fact that there are two potential jv's still interested was a positive. He did say the new wells won't be until next year, but that's been obvious for some time. Baffling.

Better stay off the magic mushrooms then Steven. Lol.

Hi Elegance. Without continued use of the jet pump the condensate will simply build up again and impede the gas flow as before. After all that id what happened when they completed the refrac. Initial flow rate was about 0.5 mmscfd and then fell away as the condensate built up. The last flow rate they gave us was 0.15 mmscfd. Roland has said that jet pumps will be needed on all future wells. One pump will service a number of wells. This will be economically viable.

Your last paragraph hits the nail on the head. They have known the condensate was a big problem since 77h was first fracked in 2014 and should have researched artificial lift in advance. If they had done that we would be months ahead of where we are now. However, I am confident we are now on the right track and hopeful that a jv will be agreed, at least in principle, in the next month or two. Atb. Gla.

Yes, of course it's all to plan. That's if you only look at the latest plan in the July 4th rns. Even then after all this time, it will be neither here nor there, if it slips by a week or so.

Hmm. Baffled by this drop. Nothings really changed except on the positive side that they still have two potential partners.

Thanks Suepud.

Two main interesting points.

Great that there are still two potential jv's interested. Competition may mean a better deal.

He confirmed, as expected, that the full field development will not be until next year. Also he admitted that progress had been very slow. Interesting to see the market reaction.

The rig will be used to remove the plug at 77h. It will then go to C19z to dewax. It will then return to 77h to install the pump by which time they should have established the baseline flow rate from the 6 zones without the pump. Once the pump is installed there will then be about another 10 days to establish the new flow rate with the pump. It will remain in operation to keep the well free of condensate.

Elegance. Why we would the jet pump be disconnected? Surely it will need to run continuously to keep the well free of condensate.

Yep. Shows as a sell. Exactly as expected since it id below the midpoint of 0.135.

Fair enough.

I would guess maybe 2 or 3 days sausage but don't think we need to agonise over every little step. I will stick to my guesstimate of week starting 7th August for news of the enhanced flow rate.

Espen, good find. Yes, on the face of it looks like they will see a fall from $8.57 to $6.50. One would assume that future calculated profits are based on some sort of long term average. Prices were never going to stay high forever and have already fallen considerably from their peak after the despot in the Kremlin went nuts.

No Sprint. Apologies, rereading my post, I can see it could be interpreted like that. They are hoping for a peak 4 mmscfd per well and a peak production of 25 mmscfd from the 10 wells. That may seem a contradiction but it is due to the fairly rapid decline rate of 40% per annum. As the earlier wells decline, new ones will come on stream. Of course if all goes well further wells will come on stream before the initial 10 falls away too far. All of this coming to fruition depends on a good jv.

Sprint. You don't need to make those sort of calculations. If you go to the website and look under announcements you will see for December the Investor Presentation. That gives an NPV of $725 million. That is based on a model of 10 wells, producing 4 mmscfd, with 25 mmscfd peak production, and a decline rate of 40 %, with each well costing $10 million. A full field development will be around 30 wells.

Probably, hoping for a bit more than 0.5 mmscfd since that was the peak value of the two zones immediately post refrac. Of course there may have been some decline since then. The new wells in virgin rock should do much better.

Desree. For once we are in agreement. I am hoping they will put the plug back to get a before and after comparison of the two efficiently fracked zones. Wouldn't be surprised if the jv didn't ask for that. Would be more efficient to do it the other way round but it looks like the DGH gave them no real choice.

Yes of course you are right Eagle. However, that doesn't stop them announcing that the deal has been agreed in principle. Also, given the close involvement of the DGH you'd hope ratification would be much quicker this time.

Yes, I am sure that is what the jv are waiting for, in spite of the BS in the April 13th rns.

" The farm out discussions are ongoing and the Company does not anticipate that the C-77H artificial lift implementation will have an impact on the farm out process being concluded."

You'd hope it wouldn't take long to sign given that it's now nearly 10 months since the farm out process started. There may be some negotiation on the terms, with the number of " free carry " wells dependent on the flow results. Just hope that's not complicated too much by the mixture of the old and new zones.

Still hoping that the jv will be in place by mid to late August. Gla.