Member Info for gordon1237

dont know what to make of this. Are they really saying 150,000 cu ft per day is enough? Feels like they have not just moved the goalposts but carted them of the pitch.
First we were told that the target for the refrac was 2 mmscfd for two zones which would equate to the 4 mmscfd for a new well with 8 zones which was needed for robust economics. Then in my email exchange with Roland, he said 0.5 mmscfd from the refrac would give 4 mmscfd for a new well with 8 to 10 zones. Even that didn't add up mathematically. Now we are told that 0.15 mmscfd will give us the 4 mmscfd from a new well, and that there will now be 12 to 24 zones.
12 zones would give 1.8 mmscfd and 24 zones 3.6 mmscfd.
I want to believe, I really do, but on the face of it, something doesnt seem. Somebody please convince me, and please dont just say if Roland says it's ok, it must be. We are currently at 7.5 % of the original target.

Hope so Vf. We certainly need something to stop the rot.

Lol.
Well, Espen has told us the size of his holding. Lol. Well over 200 million.
For the record, I have 10 million at an average of 0.19. Atb.

Hi Espen, if it's not too intrusive, I've often wondered whats your average? Atb.

Just realised, I now need a 50% rise just to break even. Come on Roland, how about some news to cheer us up.

we are now at our lowest since early 2021, before the new regime and before the news that they were trying for 100 % of Cambay. Really hope we get some sort of rise today, however small. Gla.

Bloody hell! It's getting worse by the minute. 1.5 million bought at 0.125. Getting very twitchy now.

Fair point toptuf. Of course the vast majority have never heard of Syn. However, there are plenty who research small caps like Syn, and they are obviously not convinced so far.
Bigpecs. Yes never thought we would be waiting for the definitive flow rate at such a low level as this. Thought we would have been in the mid to high 0.2's. Makes me wonder what we will spike to on the big day. Gla.

Hope so BP. I think the real problem is that the great share buying public remains unconvinced that anything has changed at Syn. One decent rns could change that opinion. Gla.

that you can now buy at 0.139. If someone says, what a great opportunity, I may scream. Lol. Can't possibly risk any more. Gla.

Assuming, it is a success, I guess a lot will depend on how many are competing to buy it. If it's only one, it could be tricky. Then again that number will depend on how good the flow rate number is.
I wonder what it will spike to when the rate is announced? At one point I thought it might get to nearly 1p but can't see that now, starting from such a low base, unless the flow and decline were absolutely sensational. I would settle for doubling my money at around 0.4p.

Also, I would have thought that even if they suddenly started making decent profits, the massive accumulated losses of the Cambay field of c $125 million might have some bearing.

I guess gspc must regret not selling it the first time they tried, in 2016. I bet there was more on offer then. They obviously just wanted to see the back of it. Of course, we are all hoping that turns out to be a huge mistake. Atb.

Thanks Conger. It wasn't a court enforced sale. The court ordered them to sort it out via the Singapore arbitration court. They applied to do that, but eventually came to a private agreement that gspc would sell their 55%. Atb.

Hi Conger. Remember how sceptical I was when you said you thought the purchase price of $2.2 million had been discounted by the amount of cash calls owed by gspc?
Found this in the report.
" Under the terms of the Cambay PSC and JOA, the Company assumed the net US$4,795,704 ($6,840,257) unpaid by GSPC as part of the Acquisition. This amount has been recognised as part of the total cost of the 55% PI acquired from GSPC (see Note 26).
So, you were right and I was wrong. Atb.

Could be Bigpecs. Just done a dummy trade. Got a quote of 0.145 to sell, so some of the trades look a bit high to be sells.

Been having a bit of insomnia LexyLou, for the first time in my life. Atb.

on asx. Looks promising. Fluid to be forced out with nitrogen and production tubing and Christmas tree in place in next 24 hours.

I did the calculations for Q1, January to March, and made the cash burn about £170 k per month. Didn't attempt it for Q2. As it seemed too complicated with funds being received and spent in preparation for the refrac. Hard to say whether any significant revenue is being received from gas sales this quarter. In Q2, it was pretty piffling, around £90k from memory.

As always Espen, we wont know until they tell us. Hopefully some good news in the next week or so.