Member Info for gordon1237

Fair enough. Cant see either project coming to fruiton. Do doubt Roland will retire before they even get close.

They have said that the Cambay CCS appraisal well is intended to be paid for by the DGH and have applied for funding. Do agreed that pigs might fly and it is too far off to be of interest.

Sounds almost like you think Roland should keep us informed Sausage. A bit unreasonable he must be so busy. Lol.

Roland's interview with Zak. 19th February 2024.

https://zakstraderscafe.com/interview-roland-wessel-ceo-synergia-energy/8462/

At that time the sp was according to Roland

* Startling to me " at only around 0.16.

Yoy couldn't make it up.

Sajad. There is little chance of them selling the CCS licence. They have been trying to farm out part of it since May 2024 with no takers. Even if they did manage to sell it all it wouldn't be remotely enough to finance a drilling program.

As for taking back Selan’s 50% they have no cash for any legal action. That's always assuming they are in breach of contract.

I see very little chance of Roland's CCS baby creating any value or at least not in a time frame that will benefit the vast majority of current shareholders. Doubt he will still be involved with the company himself by then.

If so, the question arises, how was it possible for Selan to do that ? Did the jv contract have more holes than a golf course ? Or did Selan ignore the contract knowing Syn had no cash for legal action?

I suspect that what may have happened, is that Roland has been told by Selan, off the record, that if they don't sell at this bargain basement price, they will just delay indefinitely.

Lol.

Nope. Quelle surprise!

No doubt, wasting my time but have just sent the following to Roland.

" Good afternoon Roland.

On the 16th September 2024 you said in a Tweet.

" #SYN As joint operator, Synergia is fully involved in the Cambay PSC work program. A TCM is planned next week to discuss the technical details of the workover program."

In today's annual report you say.

" Selan is the lead operator, leaving Synergia with limited influence over operational decisions."

It's hard to see how both of those statements can be true and some might conclude that shareholders were misled.

The question shareholders are asking is how can Syn have signed a jv agreement that allowed Selan to procrastinate in this way ? We were led to believe tbat the WP had to be completed in 18 months or in

" certain circumstances " 2 years. Again this appears to be misleading.

In a recent rns we were told that the drilling of the first new well would commence in October. If this were the case surely it would have been possible for the company to wait until revenues arrived from the well rather than selling out for a pittance? Or will that also turn out to be misleading with the drilling postponed again ?

I don't suppose you will reply but it seems to me you owe your long suffering shareholders an explanation for what really went wrong here."

This from the report says it all.

" The internal challenges include the disappointing hold ups at Cambay resulting in continued delay of expected production revenue increases. The hopes associated with the successful Cambay initial 50% farm-out and the $20 million carry of costs by new partner Antelopus Selan Energy Limited (formerly Selan Exploration Technology Limited, and referred to throughout the Annual Report as "Selan") have not materialised to date. Selan is the lead operator, leaving Synergia with limited influence over operational decisions."

Not a bloody word as to how, within the terms of the contract, it was possible for Selan to procrastinate im the way that they did.

Yeah. If by some miracle the sp gets to say 0.04 it will only be an 83% reduction since Roland took charge.

" Post-sale, Synergia intends to reset its strategy to focus on CCS development and explore new opportunities aligned with shareholder value creation."

FFS.

In my book, during the first week in October, means by the 7th, which is next Tuesday.

Rns 27th August.

" Selan plan to deploy a drilling rig contracted from Kiri Oilfield Services to drill a new well on the Cambay PSC in October 2025. The cost of the new well will be carried by Selan under the work program associated with the Farm In / Farm Out agreement between Synergia and Selan."

So, will we be hearing any day that drilling has

commenced ?

Nah, me neither.

Lol.

Enquired about the annual report. Its " due shortly ".

Yes sajad. Joe Salamon did stand up to gspc over the disputed cash, of around 4-5 million usd.That however, turned out to be a truly terrible decision as Oilex lost about that amount fot about 4 years in a row while the dispute dragged on.

They could give master classes in heel dragging.