Member Info for gordon1237

I would imagine the jv will terminate the moment GOI approval is received. Possibly as soon as final agreement of the sale details are approved. They could easily put in a clause that in the unlikely event that approval is not forthcoming it reverts to the status quo.

If this goes through they will have effectively sold the whole of Cambay for 14 million usd plus change. They previously told us, in a document which is no longer on the website but which I still have on my phone, that a 10 well model would on a base case produce profits of 58 million usd. A full field development would be 30+ wells. There was also a best case model with much higher profits. So for a full field development in todays money we would be talking a total of at least 200 million usd profit or 100 million for Syn.

So either their own projected profit figures were a fantasy or they are now selling their only asset for a small fraction of what it is worth.

So which is it?

DV. Highly likely. 2027 is only 17 months away.

VF. It was in the 4th July rns. The initial payment was on execution of the HoT. That is paid even if the sale falls through or is rejected in the vote.

Monsoon rains in India in the monsoon season. Who knew? Lol.

"

Following the execution of the Heads of Terms for the sale of Synergia's 50% working interest in the Cambay PSC, Selan Exploration Technology Limited ("Selan") have remitted the initial payment of US$ 0.5 million to Synergia. The development of a mutually acceptable Sale and Purchase Agreement is currently underway.

The current workover operation on the C-64 well which involves the installation of a sucker rod pump ("SRP") has experienced further delays due to monsoon rains and will continue into August 2025."

Worst year ever.

£25k in bonds. Fourth blank month out of eight.

Four prizes this year totalling £200.

Actually, thinking about it a bit more, even that ain't right. Before announcement of the sale, the price of 0.0175 would mostly have been due to Cambay. Obviously that would now be close to zero. So presumably most of the current price is down to the anticipated divi. We have no idea what that will be, so it's impossible to say whether buying for it is a good bet.

I was going to say that anyone buying in just for the dividend might be making a mistake as the sp will drop by the same amount when it goes ex divi.

However if we take the sp now (0.0205) compared with before the announcement (0.0175) the difference (0.003) only amounts to a pay out of about £500k. So you'd think it would be worth it.

What does that mean in terms of market expectations ?

" Initial payment of US$ 0.5 million on execution of the HoT".

According to the rns the HoT has been executed.

If they take the full 180 days, then 6 months for GOI approval, then 12 months until the final payment, it could be nearly 2 years.

Granted exclusivity, what a joke!

Of course otherwise they'd be queuing up around the block to make an offer.

The jv has now been running for exactly one year.

As a mate of mine used to say, you can count their achievements on the fingers of one stump.

Embarrassment.

I assume /hope that's just s very bad taste joke.

I mean, it's not as if the monsoon happens every year. Lol.

" #SYN The C-64 workover activities have been delayed by monsoon rains and will extend into August. We hope to be able to report positive results following the installation of the sucker rod pump."

Nice to see Roland keeping up his 100% record.

True enough Span. Amounts to the same thing in one way. Believing what I was told by Syn.

When I think of all the times over the years that I have been attacked on here for being too

negative, wanting to get in cheaper, blah, blah, I don't know whether to laugh or cry. Tge only mistake I made was nit being negative enough.

Hi Wolfman. Personally, I could have got out at a modest loss at the time of the jv. However, I,saw no reason to do so. Stupidly, I believed what the company was telling us, that it was only a matter of time before we were quids in, which point of view they did a complete volte face on 4th July.

As recently as January I bought more in the 0.05s thinking it couldn't possibly go lower. Can't help but wonder if the massive drop since was due to people getting wind of what was about to happen.