Member Info for gordon1237

Yes Elegance, possibly confidence, and a raising of Syn's profile. However, in the shorter term it is cash flow that is the concern, and any revenue return from the UK CCS is at least 4 years down the line. Atb.

Nice solid 20 % up on the week. Let's hope that next week we find there is a solid reason for it. Personally, I doubt whether missing out on the licences would cause much, if any drop. About time we had some exciting jv news. Gka.

You'd flipping hope so sausage. It's already been a ridiculously long time. Gla.

Just tried dumny sells. Nothing doing for 10 million but could have sold 5 million at 0.11.

The way Briana phrased that yesterday gave pause for thought. " shareholders have been notified that discussions are ongoing with a potential JV partner".
Was that just a slip of the keyboard or does it mean there is only one potential candidate left in the process. Is that good or bad? Depends on the reason I guess.

If we ignore yesterday it's up 27% in two days. What's occurring?

Yes Steven I remember you saying you needed 2P. Like beadle I would be over the moon with 0.5 but struggle to see it now.
As for the Indian government they really seem to struggle with one of their inheritances of British rule - bureaucracy. Also, the Cambay resource is huge to a small company like Syn but no big deal for the GOI. Atb. Gla.

0.8!!! If only. Lol.

Just received a pleasant enough reply from Briana. Saying precisely nothing, negotiations stiil ongoing etc. No hint of anything imminent. Shan't bother again.

I have taken the bull by the horns and sent the following to Roland.
" Good morning Roland.
As I expect you are aware, today it is exactly one year since the Q & A was published via Sharetalk.

One if the questions was this.
" • What would success look like on all fronts 12 months from now? A successful C-77H re-frac, a successful new (C-78H) well drilled and on production, a farmout agreement on Cambay, and the award of a CCS licence for the Medway Hub with FEED underway."

So by the Company's own criteria it has been a far from successful year with only one out of four criteria satisfied. As I have commented previously it always seems like everything takes far longer than anticipated. For example the farm out process was originally going to take about 3 months which became 3 to 6 months and is now approaching 7 months.

It would be nice to think some significant news that would give a decent boost to the share price is imminent. The SP is only going one way at the moment. As it is, the longer things drag on the concern is that more cash will need to be raised causing a further reduction in SP.

Perhaps you can't answer this, but I will ask anyway. You previously said that you were hoping that the price of a 50% farm in would be a free carry for the first two wells. Is there likely to be an element of cash as well? It will obviously be a good while before revenue comes in from the wells and it seems possible that, even with the recently announced loan, more cash will be required in the interim.

Presumably, once the new pump is installed and the condensate removed, flow rates and cash flow will improve but probably not enough to make it cash positive?

I appreciate that there may be a limit as to what you can tell us, but any encouragement you can give long suffering shareholders would be much appreciated.

I assume it will be okay to post this exchange on the LSE bulletin board?

Best regards

Sorry Patrick, what's July got do with it? They stated a year from April.

Must admit Sausage, I was very temped. Suspect all I would get is a litany of excuses. Atb.

Of ciurse not VF. I keep a lot of relevant stuff in a folder on my phone and was revisiting this a few days ago when I noticed the date.

we had the Sharetalk Q & A.
https://www.share-talk.com/oilex-ltd-management-team-asxaimoex-qa-update-shareholders-questions/#gs.xf3ebb
This was one question and answer.
" • What would success look like on all fronts 12 months from now? A successful C-77H re-frac, a successful new (C-78H) well drilled and on production, a farmout agreement on Cambay, and the award of a CCS licence for the Medway Hub with FEED underway."
Hmmm......
One out of four.
Hopefully the coming year will be a lot more successful. Gla.

Yes Espen. Frustrating is certainly the word but I guess we should be used to it by now.
You would assume that after the first two wells the cost would be split 50 /50. Gla.

Yep. Two things you rarely see in one sentence.
" Synergia" and " No delay". Lol.

Agreed. Ditto the jv news.

We can all dream sausage.
https://youtu.be/u-pP_dCenJA

BORING!!!!!!

Not sure what you mean by that Conger. Roland has said that he hopes the buy in price will be a free carry for the first two wells. That is the farmee will pay 100 % of the cost of drilling the two wells in exchange for 50% of Cambay. My view is they need some cash as well to avoid any further raises. Presumably once the two wells are producing cash that will finance further drilling on 50/50 basis.