Member Info for gordon1237

Surely that's been obvious for many months. Since the start of the jv more than a year ago in fact.

For that reason Ssccss, I will be surprised if the new well is producing before the sale is finalised.

Espen. Not sure why they need to rework anything. Just a matter of finding someone willing to cough up for a piece of the action.

Hard to say Callum. You'd think Syn would receive 50 % of any income up to when the sale receives GOI approval. Depends on how the sales agreement is worded. Then again it wouldn't be the biggest surprise if Selan delay further so little or no payment is due.

Hi Callum.. Assuming the sale is inevitable, I would say that winding up is the least worst option. In theory the 13.5 million usd would give an sp of around 0.064p. In practice because the payment is in the future, maybe 0.05 ish.

Yes Espen, that was on 28th November last year that,Harbour pulled out. That's 10 months ago.

It was 6 months before that on 28th May they started trying to farm out half of their then 50%.

So, no takers in 16 months. Not great.

Well they bloody well should have realised given the number of years (decades) that Oex/Syn have been involved out there. That makes it even more inexcusable that the jv contract wasn't watertight.

Not sure about Republic having lost more than anyone. I believe their original stake was ib excess of 100 million usd but with forward selling and the like doubt they have lost much, if at all. Can't understand why with 12.8% they don't appear on the list of major shareholders. Only nominee accounts are listed which come to just over 50%.

Unless they do wind the company up, which seems unlikely, can't see how they will give us enough cash to get above, say 0.03. Happy to be proved wrong of course.

Can't disagree with that sentiment but we've never before been (apparently) been on the point of starting to produce at commercially viable rates.

Then again as I keep saying, ad nauseum, there must be something they ain't telling us.

Seems highly unlikely hugup. Why would interest in a possible CCS jv prompt them to ditch their main asset for a pittance when it was approaching the point where at long long last it might come to fruition ?

That being the case, what does the fact that Syn have been trying to farm out part of their CCS scheme fir 16 months, without success, tell us ?

Why 2/3 weeks ? Could be 3 months. What the sp goes to depends on how much cash they give us.

Can't see it being enough for 0.05 but hope springs and all that.

Just googled whether the monsoon rains have been worse than usual in Gujarat this year. This is the reply.

" No, reports do not indicate that this year's monsoon rains in Gujarat have been worse than normal; in fact, they have been more erratic and in some cases, even decreased."

I predict the next rns will say this ain't happening.

" Selan plan to deploy a drilling rig contracted from Kiri Oilfield Services to drill a new well on the Cambay PSC in October 2025. "

Oh come on ! This is just transparently taking the p*ss. It's been successivly June, July, August, September and now effing October. Could Selan’s intentions be any clearer ?

Hi sajid. Trouble is we dont know if Selan is in default because we don't know the exact details of the contract. The original 18 months allowed for the WP does not expire until 31st January 2026. Then we were told that the period could be extended to 2 years in " certain circumstances ", whatever that means. So, strictly speaking they probably aren't in default. You'd think there would be interim targets but thats something else we don't know.

I always thought the term " Free Carry " was a bit of a misnomer. There was nothing free about it.

Selan were supposed to be paying for their half of

the WP, whilst Syn paid for their half with 50% of Cambay. And what did they get for that 50% ?

Just imagine if things had been done differently.

Suppose Selan had just paid Syn 10 million usd and then Syn had used that to pay their share of the WP.

Thanks Boomer. Hope you are right. That would be the first thing you've ever said that we could agree on.

How about we actually talk about Lloyds for once.

The sp is nearly back to what it was before the windfall tax scare. Surely that implies the consensus has shifted in favour of it not happening ?

Not sure why we should care about one piddling workover Sausage.