Member Info for gordon1237

It might be better t if they first drilled c78 to where the money is,in the Eocene. Meanwhile, let's hope the increase in production continues.

Yeah. I was pleasantly surprised. Lol.

35% Sausage ? It's more like 85%, from 0.007 to 0.013. Yes I have emailed and so far, no reply. Thought he might have since he actually answered my last one, where he agreed with my analysis of the situation with Selan.

Sajad. Not sure what you are disagreeing with.

We are all pretty much singing from the same hymn sheet. Yes Selan are proceeding with development of the field but at a monumentally

slow rate. They have yet to address the real value in Cambay, the Eocene gas reserves, in spite of continuous pressure from Syn since the jv started in August 2024.

Maybe Roland has found a way to make them get on with it, maybe there's another buyer, maybe something else. Time will tell.

Hugo. Totally agree. Very welcome as the increase in production is, it doesn't explain the near doubling of the sp. The workovers were only ever intended to provide income enough to keep the lights on, until the real income came in from the new wells, intended to exploit the 200 bcf gas reserves in the Eocene. It seems Selan deliberately delayed everything hoping that Syn would run out of cash and be forced to sell the rest only then to find that their major shareholder wouldn't play ball. As Ssccss said. Why ?

What are Selan playing at in only drilling c78 to the Oligocene when the whole purpose of the jv was to exploit the gas reserves in the Eocene, several hundred metres lower? Apparently, that was enough to satisfy the regulator.

If we believe Syn's own figures from a few years back the Eocene gas reserves are worth around 200 million usd making Syn's share around £75 million. The refrac went part of the way to demonstrate that the gas could be extracted at a commercially viable flow rate but not conclusivly hence the market never believed it. It never really

made sense to me to sell up but I can understand Roland's frustration at feeling forced to do so.

So what is going on? Another potential buyer or does the company now see a route to keep going until Selan do what they were supposed to, and the real rewards start to roll in?

Interesting. Surely some news leaking.

Selan have deliberately drilled c78 only as far as the Oligocene rather than the gas target zone in the deeper Eocene. Apparently, that was to satisfy the regulator.

Seems they act with impunity knowing Syn have no money for legal action.

Up 30 %.

Looks like it Sprint.

Crusty. We haven't sold our share. It's all fallen through.

Gas and oil together give a reasonable income.

At the higher rate of 195 bopd, I make it around

£290k per month to Syn. Even the lower rate of 78 bopd gives £110k.

Hugo. Something similar was hinted to me. So, a tiny glimmer of hope. Hard to see what can be salvaged, but you never know. From what I understand, Selan’s behaviour has been disgraceful.

Nice to see there is still plenty of interest. You have to laugh or else you'll cry. Atb.

Yes. Let's hope Selan get on with it soon.

Good news. So that should be at least £50k a month for Syn. Perhaps you already know the answer to my Oligocene question +

Is that increased figure from Roland VF? If so that's good news but is not what I was getting at.

VF. Can I suggest that you email Roland and ask why Selan have only drilled the new well as far as the Oligocene when the value of Cambay is in the Eocene at a greater depth. I think you will find the answer informative. Atb.

Sajad. A couple of months ago you were repeatedly whinging about the company's performance. How come that was ok whilst current comments by others are not.

Personally, I would have loved to attend the last meeting but for personal reasons it was just not possible.

Unless a special meeting is convened, there won't be another one until November.

You are both right in a sense. Conventional fracking techniques that have been used so successfully in North America do not work in the very different Indian geology. The rocks are much softer and the fracks tend to collapse limiting gas flow. This is what happened in the original c77h well, where there was reasonable gas flow but it quickly declined. Oilex, as it was then, commissioned a report in 2017 by Baker Hughes and Schlumberger that recommended changes in the fracking materials and techniques. These were put in place in the refrac of c77h in 2023.

This was moderately successful but further complicated because gas flow was restricted by massive water production. A jet pump was used to remove the water but was only partly successful because the original fracked zones were producing more water than the pump could handle in this old depleted well. The hope is that a new well, fracked with the new techniques, together with the jet pump and with multiple fracked zones will produce gas and oil condensate at commercially viable rates.

Ra*cist

carrot. that is offensively ******.