Member Info for gordon1237

Agreed Ssccss, but if that is the case we deserve to know how under the terms of the jv was that even possible. We were told that the WP had to be completed in 18 months extendable in " certain circumstances " to 2 years. Instead of which, after a year, they have barely started.

The most frustrating thing is is we are never going to know what happened. I was criticised for suggesting there is something they aren't telling us, but there must be something. They went in the

space of a few months from saying/implying that it was just a matter of waiting for the new wells to come into production and the cash would start rolling in to suddenly it was in our best interests to sell up for a fraction of what they had previously said it was worth.

Crusty. I have 40 million shares at an average og 0.092 so at the current sp I would get back less than a quarter. An absolute best case of them saying all the cash will be returned in say 18 months would probably mean just over 50% back.

Very unlikely.

He must be aware Ssccss. Briana definitely reads these posts. Whether that will make any difference us problematic. I mentioned before that at one stage they were talking about buying depleted fields and using expertise to squeeze more out of them. Whatever they do, short of winding up, ain't gonna produce quick returns.

Let's face it, it is now virtually impossible for me and most LTHs to come out in front here. The least worst option would be to completele the sale ASAP return all the cash to shareholders and shut down the company.

Fat chance.

Hi Espen. Nice to hear from you. Not sure I'd describe this turn of events as interesting. Diabolical maybe. Lol.

Obviously not the massive holding you used to have.

Of to the big meeting at Ascot tomorrow. Atb.

Nice one Crusty. Lol.

You may well be right Ssccss but if that's the case, how is it possible for Selan to do that ?

I see only two possibilities.

Either the original jv contract was so full of holes that they could drag things out with impunity or it was watertight and they knew they could do as they liked because Syn have no money to take them to court.

If the deal was rejected, I would hope the original jv would continue and we would have at least a chance of getting some of what we were promised

Unfortunately DV, I agree.

Also agree that there could be a bag from here. Tempted to buy some more but it hardly seems worth it for the few extra grand I would recover.

I would assume it's 50% of however many bother to vote. So a lot less than the total share register.

Wonder what the chances are of the sale being defeated in the vote.

According to the website about 56% of the shares ate hrld in nominee accounts such as Barclays etc.

We know Republic hold 13.8%. That still leaves over 30%. You'd think most LTHs would vote against but I bet an awful lot wont bother.

Can't see why it would make much difference whether or not that deadline is hit.

Also, if nearly 10 x the current price, a year ago, undervalued the company, why we are we being told that a deal worth around 3x the current price (if we are lucky) is a good one?

I can think of one thing that might make it a good one and that's if the deal included a share of future profits.

Sausage. I eventually received an email . Agreed not to post the reply but nothing was answered.

Can't believe we haven't heard fron Espen since before the news of the sale. Did you bale out Espen ? Hope all is well.

Sausage. No, nobody's ever asked me to stop emailing. There was a time when Roland used to answer my emails himself, until the time he got annoyed when I posted one of his responses on here. At the time It didn't seem an issue as it wasn't market sensitive, just a clarification. Ever since even though I undertook not to post anything without permission and have stuck to that he never replies in person. Until very recently I have always got some sort of reply from Briana, sometimes after a prompt, even if it was only to say she can't tell me anything. Now I am not even getting that.

So DP, I am 99.99% certain that Roland wouldn't answer my call. Does that mean you have spoken to him ?

Sausage. I sent my long email detailing why this seemed like a terrible deal, in light of what we had previously been told, to both Roland and Briana, on 11th July. No response. I followed it up a couple of days later, suggesting they persuade me it was a good deal. No response ot even acknowledgment.

Sausage. I've already emailed that and more and got zero response.

Roland's interview with Zak Mir almost exactly one year ago. Just after GOI approval of the transfer to Selan.

https://zakstraderscafe.com/interview-roland-wessel-ceo-synergia-energy-2/9865/

A reminder of how much we were promised and how little has been delivered.

Agree absolutely Ssccss. It's a piffling amount of money as it is and it's just not acceptable for payment to be spread out over up to two years.

How they can sell an asset that they have previously indicated could be worth £100 million for 4 million usd us beyond me.

If you want us to be convinced this is the only option tell us the bloody truth.