Member Info for gordon1237

Bloody hell VF. You say none of things I was talking about on C77, including flow rates and removal of condensate matter. We get an rns detailing flow rate improvement and the condensate column and you basically say fantastic. Unbelievable!!!
It is excellent BTW.

I guess if there's a lot more condensate than expected it will be worth a lot more.

Agreed VF, but there may be a lot of people who only look at the rns's. As I said, it can't do any harm.
As for flow rates, yes they are academic to some degree. However surely they are significant in respect of further development of the methodology. If they successfully increase the flow rate by removal of the condensate column that can then used in the new wells. The same problem is bound to occur in those wells.
Also, if they can increase the flow rate further, it will also reduce the monthly cash burn. If they again mingle with c73 they might get close to break even. Especially, when the price goes up again. Atb.

Agree sausage. I thought the interview was good. The market didn't agree. An rns with updated flow rates and outlining the measures they are taking couldn't do any harm.

Is it possible to trade at 7.15 am?

Based on the price. If it was yesterday, probably a buy. Any earlier probably a sell.

It looks like s buy based on the price, but it's 7.15 am do probably from another day. A bit weird, same trade three times. Normal trade followed by a negative trade, which can mean a transfer to a partner for example. I think we had one from a director to his wife recently. Then we had another normal trade. So who knows. Gla.

As you say buci the quarterly report may tell us more.

In the Sharetalk interview Roland said new wells next year. I think the intention was always to do one well at a time as they originally said c78 in Q4 and c79 in Q1. I would doubt it possible to start in January. Even if they find a way to get things moving before formal ratification by the GOI, remember the delays in ordering and mobilisation of equipment. Love to be proved wrong but wouldn't be surprised if it crept into Q2.

We keep saying that Troajan. Let's hope it's true this time.

pjmcgrma. You can't seriously believe that the drop from 0.21 at the time of the last raising to 0.1 in less than 3 months is due to the mm's? That's too ridiculous to even comment on. Doh! I just did. Lol.

Nearly said earlier that it looked like the sp had stabilised. Someone sold 10 million at 0.0975. FFS.

Yes. Spot on Espen. It would be nice to hear that a number of offers had been made. We would then at least know that bidding is competitive.

Eagle. That seems like a fair summary to me. Although, I accept Roland's assertion that he is confident the new wells can produce at a commercial rate, I don't think that will be totally accepted by those that matter until those wells are up and running. If that happens the remaining 50% could well be valued at say £100 million. Roland could maybe sell to concentrate on his CCS baby.
Provided the jv pays enough to finance the new drills everything should move forward nicely.

Sausage. I suspect so. He hasn't mentioned syn for a couple of days on Twitter and hasn't posted on here either under his other alias. Not obsessed with the guy, just winds me up a bit that some take him seriously. Was taken in myself for a while when he first appeared on here. Shan't mention him again or engage with him if he reappears. Nuff said.

Jack. I also thought it a bit strange they didn't say who was acting for us.
As I said at the time, I also thought it strange they needed anyone to act for us at all. I would have thought that with Roland's standing in the industry and many contacts he would have found that unnecessary.

Eagle. This bit makes no sense.
" They have been throwing £10m+ at drills that are producing results which don’t even cover OpEx of £100k a month."
There have been no new drills since 2014 and the refrac cost only 2.2 million. The operating expenses are at least double that. I calculated the cash burn for q1 at £170k per month. Must be more now.
I think the refrac results would have been much better received if they had said beforehand that the flow rates were not that important and that it was all about proving the methodology. As it was they gave what turned out to be unrealistic targets hence the market reaction to the actual results.
I would actually be reasonably happy if someone paid £10 million for 50%. It would be enough to proceed with the new wells and hopefully enable thre company to get to the point where further wells are self financing. Any more would be a bonus. As always nothing is certain until that rns drops. Surely we will know by Christmas. Gla.

Agreed £9 million is very undervalued. Hopefully the market realises that soon.

Hi Jack. I guess either scenario is possible. The jv could pay for 50%, by funding the drill(s) or in cash. Amounts to the same thing really except syn would probably prefer cash to cover other expenses. Or it could I suppose be a combination of both.
As for your numbers, I'd love to think you are right, I really would. I do believe syn is very undervalued but find it impossible to believe anyone would pay that when the whole company is valued at about £9 million.
I wonder if it's possible syn might settle for a relatively modest amount initially with a proviso of a larger sum later when the profits roll in.

Espen. I admire for being so sanguine, considering the size of your holding. Atb.