Member Info for gordon1237

In pounds it's £10.4 million versus £3.3 million.

Can't see the dividend alone being enough to move the dial on the sp much. So they will need to come up with a real cunning plan as to what direction they take with the rest of the cash. Whatever it is, it cant be as good as what they told us was imminent from Cambay.

Can't see it happening but I would prefer if they said they will return all the cash and wind the company up. That might get us to say 0.05 and I would at least get half of my cash back.

Wolfman. I wouldn't call it every little detail to expect some sort of explanation for the fact that after many years of banging on about how much Cambay was worth, and finally having a return on that within touching distance, they suddenly decide to offload it for a fraction of what it's worth.

On their own figures, from a presentation a couple of years ago, 100 % of Cambay is worth around 200 million usd. So why the heck are they letting it go for less than a tenth of that?

We all hope there is more to this deal than meets the eye but if so, we deserve to be told.

Republic have 12.8%.

I do agree dv, except that I thought the same when I last topped up at 0.05.

Yes, on the face of it you are right but the one thing I have learnt about this company over the last 10 years is that it never fails to disappoint. Its hard to see the dividend alone being enough to move the sp much so we do need to hope that Roland does indeed have something up his sleeve.

Pretty sure it is just a simple majority. Also pretty sure it's not irreversible.

" A heads of terms agreement is a non-legally binding preliminary document that outlines the core commercial terms of a proposed deal, such as a property lease or a business acquisition. Also known as a letter of intent or term sheet, it serves to confirm the main points of agreement, identify potential deal-breakers, and provide a framework for subsequent formal negotiations and the drafting of a final, legally binding contract."

The AGM is normally in November but they have said there will be a general meeting to ratify the sale.

How's this for a " What if ".

What if Roland's playing them at their own game?

Saying he wants to sell, whilst encouraging them to get on with the drilling, so they can be sure the returns will be good. The revenue starts to roll in and Roland either demands a higher price or says sorry I'm not selling after all.

No, I don't believe it either but surely there must be something ?

Hmmm. So in theory, if they stick to that time scale (big if), there could be income from the new well before the end of the year. No doubt means the sale will complete before that happens and Syn will see little or none of that income.

Also, if income is that close it makes it even more incomprehensible that they would throw in the towel at this late stage. What are they not telling us?

Yes, they will be keen to conclude negotiations with Syn as soon as possible. However they will have no control over how long GOI approval takes. No doubt there will be a clause that says all payments to Syn will cease as soon as the deal is signed, before approval happens.

Ludicrous to talk about the p/e ratio on a stock like this. That only has meaning where there is a

a constant regular income stream.

I would be amazed if we saw any further Selan cash this year.

PS. He then rang me back to say, I might not get all the cash, as he will probably spend some of it in the interim.

Can't help but wonder what planet the management is on. I know it is just a form of words but to start the sale rns with the usual

" Pleased to announce" makes me think they were actually expecting us to be delighted with this outcome.

I make this analogy.

Suppose I have a car which is my pride and joy and worth £20k which for whatever reason,I won't be able to drive for a year. My mate Ronald has always loved my car and says that rather than letting it sit in the garage for a year, if I lend it to him, he promises to take good care of it.

After a year he returns the car. It has been run into the ground, with a colossal mileage, knackered engine and numerous dents and scrapes. I take it to " Webuyanycar" (other companies are available) who value it at a miserable £2k.

My so called mate, suitably embarrassed gets back to me and says he is pleased to announce he can get me a much better price of £7k but I won't get the cash for two years.

" That's 6x, no sorry 3.5x what it's worth."

Strangely he seems rather surprised that I am less than delighted.

The most frustrating thing is that the radio silence continues and we are unlikely to ever know exactly what happened to force the situation.

What does that make LTH's ?

Lambs to the slaughter ?

Make that 93 million.

In buys.

Hmmm.

Sausage. Personally I think we will get very little for the first 50% and will have effectively sold 100% for 14 million and change.

Thanks for the show of sympathy. Lol.

Obviously, no one to blame but myself for believing what the company said would happen and then compounding it by averaging down.