Member Info for gordon1237

I now think there won't be any significant rise until a farmee signs on the dotted line.

Buci. Yes it does say that on page 16. On page 18 it says " Water disposal through injection wells". Whatever that means. So it looks like there is some water. Maybe some oil too. They dont seem to think it's a problem but as you say, nothing is certain until they do the first well or two.

You'd think so Espen, assuming all goes well with the first 10 wells.
This is what they said.
" Re: 13 Dec RNS: NPV10 means the value of pre-tax and finance net profit cash flows discounted at 10%. The 10-well model is illustrative; in a full field development it would be a 30+ wells. We believe a 40% pa decline rate is a realistic case".

Forwarded my email of 2 days ago to Roland. He says he will reply via a Twitter release.

Sausage. Roland hasn't replied to my email yesterday. May resend tomorrow.

Thanks Conger. Sorry for confusing you with VF. Lol. I found the discounting of future profits bit quite simple. It was whether the numbers were after subtracting drilling costs etc. that I was unsure about. So thanks for clarifying that.
Unbelievable that after all that detail in the presentation the sp is now almost back to the recent low. Atb.

Thanks Towzer. GL.

Pretty sure your right Ssccss. Now been here in total for nearly 8 years. When I got out in April last year, thought that was it. When it fell to the low 0.2's couldn't resist getting back in. Thought I would be out again in a year at most with a decent profit. Should have known better. Lol. Oh well, on we go. Lol.

Wonder what will happen to the sp tomorrow after today's disappointing rise.

Espen. Congratulations on graduating. I understood the concept of NPV. Just wasn't clear whether the 725 million was after deducting drilling costs etc. Atb.

Conger. So it was you who is an accountant? Also Espen? So the 725 million is definitely all profit after deduction of drilling and production cost?
Pretty disappointing rise in the end.

Sausage. I already asked him about progress in the email I posted earlier. Yet to reply. Guess he might be pretty busy. Going out now for a lunch with old work colleagues. Laters,

revenue or profit

Thanks Eagle. I understood the discounting of future revenues bit. Wasn't sure whether the cash number was just incoming revenue of profit. Sounds like it profit after the cost of drilling wells etc but before deduction of normal operating expenses.

DP. It is already factored in, in the sense that thrse are shares that are in existence now. The concern is that once the shares are transferred from asx to aim, there will be a big sell off by the oz holders.

I would assume so buci but they have said that they hope the farmee will pay for the first two wells. I have sent the following to Roland.
" Good morning Roland.
Excellent news today with the detailed Shareholder presentation. Hopefully this will reverse the recent dreadful share price decline. I wonder if you could clarify a few points.
One thing I am unclear on, since I am not an accountant. Does an NPV of 725 million usd pre finance and tax mean net profit or do production costs need to be subtracted from that?
I see that production peaks after 3 years and then falls away. However if all goes well I assume there would be more wells moving into production before that happens? Also the chart shows production at around 1 mmscfd in January 2023. How does this square with the new wells not starting until H2 2023?
The numbers are based on a 40% decline rate but I wonder if that is a cautious estimate? There is a table showing there would be greater revenues at a lower decline rate.
I was also wondering if there was any update on the timetable for condensate removal and/or progress with potential farmees?
Thanks again for today's very good rns.
Is it OK if I post your reply on a bulletin board?
Best regards Gordon ".

Well spotted buci. I will add that query to my email to Roland.

Sorry VF. Must be confusing you with someone else. Sure someone said they were an accountant.

Agreed VF. Hopefully this news will reverse the catastrophic sp decline. Do I recall correctly that you are an accountant? In which case can you answer the query in my previous post. Is the NPV of 725 million all profit or do production costs need to be subtracted? Atb.

Seems pretty impressive. One thing I am unclear on, since I am not an accountant. Does an NPV of 725 million usd pre finance and tax mean net profit or do production costs need to be subtracted from that?
At 50% farm out Syn's share would be 362 million usd from the initial 10 planned wells. Production peaks after 3 years and then falls away. However if all goes well you'd imagine there would be more wells before that happens.
The numbers are based on a 40% decline rate but I wonder if that is a cautious estimate. There is a table showing there would be greater revenues at a lower decline rate.
Surely this detailed plan will give the sp a decent boost today. Gla.