Member Info for gordon1237

ASI. Expected someone to say that. Got to go out for a few hours, but will give my reasoning later. Atb.

What really frustrates me is that with better planning the pump could have been up and running months ago. We have to live with the situation as it is, so it would be nice to get some news.

Week passes with no meaningful news. Anyone else think it odd that in the CCS rns it gave no reason why the license was unsuccessful? Surely, that's something we're entitled to know?

Yes, like everything it depends on your starting position. Take the ftse. It peaked on December 31st 1999 at 6931. Today it's 7561. That's a return of less than 10% in 23 years. If you'd started at the bottom in 2008 you'd have more than doubled.

LTI. Yes I know it's a market and ultimately anything anything's only worth what someone is willing to pay for it.

"Good for investors to be able to purchase at the current levels". Well yes, that's ok for new investors but it's different for long term holders especially if you're in your mid seventies. I've been hearing for more than a decade how undervalued it is, and how it's going to a quid this year or next. Just never happened.

Yes, a yield of 5% ain't bad, but it hardly compensates for the dismal sp performance.

An effing joke.

I am now beginning to think that this will never get back to a sensible price. A p/e of 5.6 is utterly ludicrous. Been in this for more than 15 years. Seriously considering bailing out at a small loss, which is actually a big loss in real tetms.

Agreed Zag. Could easily be that or longer. Obviously be happy to be proved wrong. They may have genuinely believed that the jv was not contingent on the success of the pump but it's what the potential jv believe that matters.

Hi Jack. Yes I am sure the potential jv will be aware of the efficacy of jet pumps. However, I am pretty sure they will still want to see the effect on flow rates in the very different Cambay geology before signing.

BTW. The jv will be buying 51% of the PSC not shares in the company.

Elegance. This is Roland's exact words in an email reply on 28th November. After that he got the hump that I had posted his reply and doesn't respond in person anymore.

" We urgently wish to drill new wells to build our Cambay production base but as has been stated previously, we are seeking to farm out up to 50% of the Cambay license and we hope the buy in price will be a “carry” for two wells by the successful farmee. The farm out process is underway and the timing of the new wells (C-78H and C-79H) will be determined by the terms of the farmout agreement." Doubt somehow that any potential jv's would be aware of what he said. So, I still think the deal could be better or worse. I would imagine that the frontrunner may have made an improved offer for getting operator status. As I said, I believe a lot depends on the success of the pump. Atb.

Of course not only did they say the proposal was to give up 51% but also operatorship which are two separate things. Dont forget Oilex previously had 45% and gspc 55% but OILEX were still the operator. Maybe by giving up both Syn will get a better deal.

Elegance. Roland originally said in an email last year (when he was still replying in person) that he was hoping for a free carry for the first two wells. That's equivalent to 20 million usd. Be nice to get that plus some cash. Could be more, could be less. No way of knowing until the rns drops.

Hope you are right sausage. I am more than ever convinced that the jv won't sign until the efficacy of the pump is proven.

Elegance. Immediately after refrac, before the condensate build up they got 0.5 mmscfd. Once the pump removes the condensate, you would hope for at least that and maybe a bit more. That is from only two frac zones.

Roland has said the new wells will have many more zones, enabling a target of 4 mmscfd to be achieved. Hopefully the success of the pump will demonstrate that to the jv and secure a good deal.

Thanks VF. Good to know.

It was only Friday that VF posted it was going by airfreight. However, a Tweet giving the current situation would be very welcome.

Obviously, you are entitled to your opinion Jack, but that makes no sense to me.

Firstly, 20 % doesn't sound like much of a drop for bad news. So why on earth can't it just be due to the bad news?

Secondly, what exactly are the mms protecting themselves from by dropping the price? They will get less for any shares they hold. Yes they will be able to buy more at a lower price and then sell them at a slightly higher price but that is what they do regardless of the actual sp all the time. The spread is how they make their money.

Shares go up or down according yo market forces, it's as simple as that. Movements may well be an overreaction, but that's only natural.

It's not just on AIM toptuf. The other week on the Lloyd's board someone said, in all seriousness, that the sp would be much higher if it wasn't for manipulation by the mms. That's a 30 billion pound company. Give me a break.

Fair enough VF. The point I was making was a general one that sites like this have no way of knowing if it is a buy or sell. If it is above the mid point, it goes down as a buy, below it goes down as a sell. On the mid point and they cant tell, so it is unknown. Sometimes buys go down as sells, sometimes sells as buys. It's not some devious plot by the mms.

Sorry, forget that last bit. They are slightly higher than the sells shown. It's still impossible to tell though. They could be someone buying at a good low price, as you suggestor they could equally be someone selling at good high price, or a mix of both. All irrelevant really. Never really see why people get so exercised by this.

Anyway, roll on some good news.