Member Info for gordon1237

Kievsky. You are of course entitled to your opinion but I simply do not understand your philosophy that people should not complain when things constantly go disasterously wrong as they have here for many years. Yes we all know this is AIM and sh*t happens but why does that mean we are not allowed to complain about it? The whole point of these boards is to hear different points of view and inform one another. You could filter and only see one side of the argument but what would be point of that ?

Personally, I have only ever filtered when people have become downright abusive or offensive.

Atb.

So it would seem DP. There is also something very strange about the recently reported activity on the new well. The aim of the jv has always been to exploit the certified gas reserves in the Eocene layer. Yet recent rns's refer only to activity in the Oligocene layer at a depth of around 500 metres less. Indeed the stated well depth doesn't even reach the Eocene where the pay zone is supposed to be.

But then in the latest rns, they again refer to the Eocene.

" We believe in the inherent value of the Cambay PSC's 206 BCF of proven P50 Eocene gas reserves."

So what the heck is going on.

I had prepared a much more detailed post on this but it was overtaken by events yesterday.

No, it's not hearing about it late. The rns actually said exclusivity until 8th February.

This really makes no sense. Selan say that Oak Tree Capital won't sanction the sale. Given that as

Selan’s main shareholder they must have been aware of the proposal even before we were, last July, why on earth would they wait until now to object ? Stinks to high heaven.

Also don't understand how the 180 days was only up on 8th February. 180 days from 4th July is 31st December.

Spot on Ssccss. Heard similar comments when the

price was 10 times, even 100 times the current.

No point in selling up when down nearly 90%.

Might as well hang on hoping for that slim chance.

Well hugop, I for one, voted against the sale. Just thought it was ridiculously cheap and they could have found a way to keep going until revenue started yo come in. However another 7 or 8 months have gone by, so who knows what's possible now.

Good grief Kievsky, what planet are you on? If ever there was justification for slamming a company or moaning about it, this one is it.

Things could hardly have gone worse.

As for putting off new investors, you can't possibly be serious. That would probably be a public service.

Wolfman. I would really really love to think you are right about someone else being interested.

Unfortunately based on how long it took to get Selan that seems unlikely. They initially said they expected the farm out process to take 2 to 3 months to find a jv partner. It took 16 months.

So not impossible but unlikely.

Took the words out of my mouth Span. Remember it took 6 months just for the GOI to approve the transfer of the first 50% to Selan and before that, 8 months for approval of 50% from gspc to Syn.

Also, yes the original 18 months for completion of the WP has expired but there was a provision for that to be extended by 6 months in " certain circumstances ".

BTW Span, I really should have listened to you when you said I'd be mad to get back in again in 2021. Talk about buyers remorse.

Just glad I didn't buy any more in yet another attempt to average down. I actually agreed that those getting in recently just to cash in on the sale were on to a good thing. Just when I would have thought it impossible they've managed to p*ss off yet another generation of shareholders.

Sausage. Syn are not back om control. Selan still own 50 % and are still the lead operator.

Meanwhile we have a new low. Just done a dummy buy at 0.0059.

ART. Could be a blessing in disguise. Doesn't look like the market agrees though.

Selan have failed to provide the bank guarantee.

You couldn't make it up. Except this is Syn so you don't need to.

Talking of scandals, if anybody's interested, which I doubt, the 31st January marked the end of the 18 month period in which the work program was supposed to be completed.

I am the only one slightly irritated when someone says it's a 52 week high? It's much more significant than that. More like a 17 year high.

Exciting times.

The answer to that Sausage is piddly volume.

Around 110 trades so far today, total value about 4 grand.

As for the time scale, last time GOI approval took 6 months. So could be a while yet.

Likewise Wolfman. Been driving me mad for 11 years. Against all expectations I got out for a modest profit in 2021. Then I was then stupid enough to allow myself to believe what we were told by the company and get back in later that year. After repeatedly averaging down, I am still 80% down and resigned to losing a massive amount of cash. Probably the best I can hope for is a 50 % loss but even that may be optimistic.

Like you I won't believe it until I see it.

The 180 days exclusivity expired on 31st December.

Wolfman. The sale is signed off, approved by shareholders and just waiting for GOI approval.

Thanks Ssccss for clarifying the rules. Stricter than I thought. Sounds like we should be all right for an initial payment after GOI approval but maybe not a second one a year later.