Member Info for gordon1237

Kaltersee. Skills?

November rns

Crusty. In the Novel rns it said " Subject to NSTA approval, the Company's interest in the CCS Project will revert to 100%. The Company will seek to identify a replacement joint venture partner and will continue to progress the work program." Seems to imply Syn now have it all

Even before then they were trying to farm out half of their 50%.

Hi Crusty. Not a lot to add really.

Looks like we are looking at September for new drills at the absolute earliest. I think we are now all resigned to the WP being 2 years rather than 18 months, so that gives them 10 months from September to finish it.

In the rns it said that the programme for this year and next had been approved by the GOI. Presumably that must have some details about timing etc. Would it be too much to expect the company to share that with us ?

I think the only thing to move the dial before drilling would be that someone had paid a good wedge for a share of Medway or preferably buy the whole thing. Seems unlikely, but who knows ?

Alternatively, they could just announce that they had dropped Medway completely.

As regards Cambay CCS, they are hoping that GOI will finance a trial but of course just getting that far would cost cash.

Really don't see news of workovers restarting having any significant effect.

As for a raise, I am desperately hoping they can hold out until beyond September. Maybe naive but we ain't got a lot else.

Listened again to Roland's interview with Zak Mir in February 2024, shortly after the jv rns.

https://zakstraderscafe.com/interview-roland-wessel-ceo-synergia-energy/8462/

Based on that we could reasonably expected the WP to be finished by now. GOI approval expected in a matter of weeks. WP would commence as soon as approval occurs. 18 months allowed but think we can do it in 12 months. Instead of which, 14 months on, virtually nothing has been achieved. The whole tone was optimistic and full of how great a partner they had found in Selan.

Contrast with the atmosphere now, with Roland's barely contained anger in both the last interview and rns.

Not long now ? Ironic presumably.

From more recent history.

Rns Sept 17th 2021

https://www.lse.co.uk/rns/cambay-update-and-uk-exploration-licence-p2446-eko7yhf1x3eowxf.html

" The development of well programs for two new horizontal wells (C-78 and C-79) is at an advanced stage and the Company has issued a Request for Quotation for well management services for the execution of the two new wells which is planned, subject to securing the necessary funding, for H2 2022."

Two wells planned for H2 2022. Only 3 years late and counting. I nearly put Lol but it's too depressing for that.

DP. A bit baffled ny this remark.

" Good to have clarification selan took the bill on workovers..so the coffers won't be as strained as once thought."

The workovers were always part of the overall workplan and always going to be paid for by

Selan.

That misspelt header was getting on my t*ts.

Ssccss. Maybe I'm naive but it just seems to me that people, including me, are justified in complaining about the way things have gone. You could just as easily made the same comments months ago about them wanting it to go lower. If that really was the case then they have got that in spades. Anyway, the drop has nothing to do with anything said on here. It's events or the lack of them.

Ssccss. You can't be serious. Lol. " Cheapest price possible " ? When it's already dropped a mind blowing 60% in a couple of months ? You couldn't make it up.

Don't know anything about UJO carrot but a quick check shows their current market cap is 11 million. So when their sp was 50p it would have been about 50 million. Therfore a lot easier to raise than for Syn with a little over 3 million. Hopefully for once Roland is right and the last rise really was the last rise.

Selan have enough other projects to do well whatever happens with Cambay. As for Syn everything was and still is, dependent on the success or otherwise of the new wells not the workovers.

Of course, it wouldn't be the biggest surprise if the usual suspects, Republic et al, said enough is enough, we ain't gonna divi up any more.

Span. As I am sure you are aware, consolidation wouldn't make s blind bit of difference with regard to making it easier to raise again. It would make the sp a more manageable number but wouldn't change the fact that the market cap is now piddling £3.2 million.

Fair point Crusty.

K. We know Medway CCS id based om liquefaction but don't think we know the same for the Cambay scheme. In fact we know precious little about.

Anyway, as you say, it is so far off, it is irrelevant.

Whoops. That should be 31/1/26.

Wolfman. My thoughts are that Selan are contracted to complete the WP in 18 months which takes us to 31/3/26. That can be extended by 6 months " in certain circumstances ". Looks likely that will be invoked.

In Roland's first interview he said they thought they could do it in 12 months, so it seems like he was misled by Selan there. You'd think there would have been interim milestones that had to be met but what do we know?

Now 0.020 to buy. Can't believe that it was only 10th February that I bought at 0.045 thinking that had to be the bottom.

Ssccss. Yes, on one hand I agree but on the other I think people are justified im feeling p*ssed off.