Member Info for gordon1237

Not impossible I suppose Crusty but that didn't happen last year when they raised and took out loans. Doubt it would bother Selan if Syn had to raise again.

Perhaps they could eke it out by Roland and the other directors working for half salary after all that's what Joe did during the Pandemic. Lol.

Seriously, I agree that it's hard to be hopeful about a quick start but when the money runs out it runs out. Don't see how you can say " there will be no more raises until the company is better positioned to get one away ". If it comes to it they will have no choice other than to raise or get another loan at an exorbitant rate.

Agreed DV but we can always hope. We have no way of knowing how much cash is left or the current rate of burn. It could be any day, months or ideally never. As usual we just don't know.

Sorry Crusty. Don't follow that at all. You seem to be saying that you hope the drills will be later as that will defer any raise whereas I would think the exact opposite. We need the drills as soon as possible to get some cash flow and hopefully no more raises required.

Didn't say I was necessarily expecting it Ssccss but I would definitely be delighted with it.

Crusty. Yes of course nothing we say on here affects the share price. I've lost count of the number of times I've been accused of wanting to get in lower.

One of the reasons I bought more this morning was the hope that the dropping (hopefully permanently ) of Medway might give the sp a boost. Could do yet maybe.

As for multi bagging, doubt it, but you never know. Would be delighted with say 0.15.

Thanks Hugup. Averaging down is always a double edged sword. I now need a smaller % rise to break even but stand to lose a lot more should it go pear shaped.

Curious expression that. Why a pear and not a banana or melon ?

Sprint. Yes I'm sure I halved it.

" That's £70k a day coming in or £2.1 million per month. A million quid a month in revenue to Syn."

2.1 million to 1 million.

General issue

NS. Lol.

Yes I am pretty sure they are in the same location.

It was previously said that the water problem with

C77h was due to the old zones which were fracked a long time ago. Didn't seem to be the same issue with the new zones. We need to hope that's the case rather than a more gene issue.

Fair enough Crusty. I suspect they may struggle to find a new partner.

****nal. yes, hopefully in say 6 months we will finally know, one way or the other, and the long wait will finally be over.

Crusty. Did you miss this bit in the rns ?

" The Company will continue to progress legacy well integrity studies but has taken the prudent decision to pause all other non-essential technical work until there is progress on a replacement JV partner."

Hi Wolf. The problem seems to me to be that the market simply does not believe that the new wells will produce commercially successful flow rates.

After all there has previously been no successful fracking in India due to the different geology. Roland seems confident that the new fracking methodology has solved the problem but until it has been demonstrated to work the market ain't having it. Hopefully that will change later this

year .

If we assume Roland's earlier forcast of 8 mmscfd by the end of the year, we get as follows.

8 mmscfd at $8 per MCF gives $64,000 per day. Each mmscfd gives 40 BOPD. So that's 320 BOPD at say $80 per barrel or $25,600 per day. A total of

$89,600 per day. That's £70k a day coming in or £2.1 million per month. A million quid a month in revenue to Syn. So yes your numbers are pretty much on the money.

Things to bear in mind are that by the time that production level is reached the 18 month PSC will br coming to an end so Syn will start to pay half the production costs. Also the wells are expected to decline at a rate of 30 % per annum.

So if that target of 8 mmscfd was to be reached things would look pretty rosy. Even Roland's 4 to 6 mmscfd would be ok ish.

The market obviously thinks that's a massive IF.

Really hope that's right Ssccss. 0.1 will give me a tiny profit, if I ignore inflation.

As far as a raise goes it's impossible to judge as we have no idea of the cash burn previously or from now going forwards.

Hi Span. Long time no hear. Nice to see you still keep an eye on us unfortunates. They do say there's no fool like an old fool. Lol.

Buy just shown up. Probably means it will now go lower. Lol.

All fair points Crusty. However, I have taken one final punt and just bought 10 million at 0.0445.

That makes my average 0.092.

Just to be clear, that doesn't mean I have suddenly become massively confident just feel that with Medway off the table prospects are much improved. It could of course still go t'ts up.

Everything depends on the new wells flow rates.

Crusty. Good overall I think. TBH I wasn't expecting Roland to see sense over Medway and was thinking we'd be lucky if any drilling started in Q2. Bit of a bummer the set back in production from the workovers though.

Little bit tempted to make one final buy. Lets see how it opens.

Looks like all the discussions on when cash flow will become positive are out of the window and we are back to just the gas from C77 and the 30 BOPD. Hopefully more than compensated for by the reduction in Medway costs.