Member Info for gordon1237

DV. What if after throwing us a small bone in the form of a dividend he announces the rest of the cash is going into CCS?

DV. I think that's won't answer rather than can't answer.

I think that ship has sailed Sausage. All credibility was shot a long time ago.

Not sure why anyone gives a monkeys about the workovers anymore. It's all just crumbs from the table.

Roland's purchase was at 0.03p.

No Sausage. Radio silence, in spite of sending the following reminder to Roland and Briana.

" Morning guys.

Any response ? I am open to be persuaded that this deal is in the best interests of shareholders.

Regards Gordon."

Was 32 days from saying this in the rns of 2nd June.

" Further to the Company's 4 April 2025 announcement, Synergia's joint venture partner, Selan Exploration ("Selan"), has now secured a drilling rig and related drilling services from DEEP Industries Limited to drill the first of three new wells under the $20 million work program on the Cambay PSC, where Synergia is fully carried by Selan in exchange for a 50% working interest in the Cambay PSC. Selan anticipates the drilling will commence in September 2025.

Additionally, Selan has now contracted a 50 tonne workover rig and workover operations on existing legacy wells will re-commence during June 2025."

to this in the rns of 4th July.

"Following a detailed strategic review and given the persistent gap between our net asset value and market capitalisation, the Board has determined that divesting our remaining Cambay interest represents the most effective way to unlock value for shareholders."

Go figure.

Yes, there may well be a significant uplift from here. By no means certain especially if the cash goes into CCS. In any case, that significant uplift ain't gonna get me much more than about half my money back with an average of 0.092.

Rossannan. Yes it is academic but yes I would like to know. On the face of it it makes no sense for the company to throw in the towel at this stage. All these years of telling us how much there is to made from Cambay and then to just give up, seems pathetic. As a scientist I spent 50 years trying to find out stuff and I can't stand just not knowing. So come on Roland please give us the story behind this incomprehensible decision.

Hilarious Carrot. Unfortunately Roland is not an Aussie.

This is the email I sent to Roland yesterday with zero response.

" Roland. I and many others are asking what it is that Syn are not telling us ? On the face of it it, if what we have been told in previous rns's is true, it is very hard to see how this deal is in the best interests if shareholders.

In the rns of 2nd June we were told that Selan had secured a rig and drilling was expected to commence in September. I know drilling is not a quick process but surely it would have been possible to hold on long enough for some good income to come in? It's not that long ago that you were estimating gas flow of 8 mmscfd by the end of the year. Obviously completely impossible now but a fraction of that would presumably be enough to keep the lights on until that good income materialised.

Perhaps Selan have said there will be further delays? If so it's difficult to understand how that can be possible under the terms of the jv contract ?

If this deal goes though Syn will effectively have sold the whole of Cambay for about £10 million plus whatever income comes through until the deal is finalised. A few years ago you produced a model for 10 wells which predicted a profit of £58 million over a number of years and that a full field development would be 30+ wells. So presumably by now we would be looking at

c 200 Million with Syn's share around £100 million. In the light of that it certainly seems that this is a good deal. Unfortunately, only for Selan.

The deal may well represent a compelling valuation compared to the current mcap but it extrapolates to a share price of around 0.05 to 0.06 around a third of what it was shortly after the jv rns in February 2024. I remember you saying that even that price didn't come close to the true value. I know there are a lot more shares now, but it still doesn't add up.

I am pretty sure most long term holders like myself, who are heavily underwater, will vote against. No doubt the likes of Republic who have participated in every rsise, will be in favour and it will go through. A sad end to a long saga.

I don't suppose you will reply but hopefully you will feel able to respond in some other way. An interview ? On X ?

If you do resond I will only post on the board with your agreement.

Regards Gordon

Twenty million years ? I've told you a billion times not to exaggerate. Lol.

Morning Elegance. Yes totally agree. I was just giving a best case scenario. Whatever the plan it is likely to cost more than it brings in for a while.

Didn't they, a few years back, talk about buying depleted assets and trying to boost production ?

Ssccss. Yes it is a joke but it may be the best we can hope for. It could increase a bit if some revenues come in before the deal is finalised. Can't really see the company being would up though. I suppose they could come up with a great plan that will give a boost but yet again I ain't holding my breath.

Roland is 72,vso I guess he might be thinking about retirement. I think the least worst option is to wind the company up once the sales proceeds are realised. The sp would probably go to around 0.05. Not great but better than the alternative.

I really can't see any other bidders materialising.

Pretty sure Selan were the only serious bidders last time.

K. If you look at the interim financial report in the rns of 13th March, the directors are listed at the start of Directors Report.

Nope.

I have sent Roland and Briana a long email detailing why this seems like a bad deal. Have suggested that if not by email he might like to do so on X or in an interview.

Don't suppose there will be a response but you never know.

Well Crusty even before Harbour pulled out they were trying to sell half of their 50% to leave 25%.Obviously no takers. What does that tell you ?

Possible Crusty but we were told expenditure was very low, surely if the new wells were in the next few months they could have hekd on. How the hell is it even possible for Selan to keep delaying and delaying ? I mean, we were told over and over that a good income was just around the corner. It's not that long since Roland predicted 8 mmscfd by the end of the year.

You'd think they'd have the decency to tell us the real story but then again pigs might become airborne.