Member Info for gordon1237

Around Dec 2020.

Closer to 0.06.

Trout. Yes we did get an update. Which told us virtually nothing apart from further delays. Until that rns did anyone think it would be another 7 months before any new wells were started ?

That's obviously true Sausage but Roland still has a duty to shareholders to deliver value to the shares. This he has spectacularly failed to do so far. That duty includes keeping us informed.

That's obviously true

Agreed Sprint. It now feels almost as though Roland has lost interest in Cambay now that he has relinquished control. Also it doesn't feel like time scales or communications are going to improve under Selan. Still early days though I guess.

Hi Sprint. If I was a bit younger I wouldn't be so

p*ssed off. There is still a reasonable chance this will look a lot rosier in a year or two. Never thought I would find myself trapped in this again.

As it is, I now need a more than 50% rise just to break even in nominal terms. Can't see that happening until the middle of next year at the earliest. Even that is dependant on target flow rates for the new wells being met. Nothing is a done deal until it happens. I think it probably will but self evidently the market and potential Institutional Investors don't.

The workovers should produce some welcome income. We need to hope that it is sufficient and quick enough to avoid the need for any further raises. The cash fron Selan will run out at some point even with the much reduced cash burn due to staff transfer from Syn to Selan. How much will Roland spend on his CCS ambitions ? Hopefully, the money from the workovers will come in quickly enough to avoid that but as usual we are in the dark as to expected flow rates etc.

Of course, vital as some quick income from yhe workovers is, it is largely irrelevant to the bigger picture which is the need for the new wells to hit there targets of 4 mmscfd for horizontal and 2 mmscfd for vertical wells.

Gla.

Sprint. The reason is quite simple. Every time we think that we're almost there, there is always just one more delay. It's always this is it, until it isn't.

Let's cast our minds back to February and imagine the howls of outrage if anyone had suggested it would be well over a year before any new wells were drilled.

Lol.

Not exactly going great though, is it?

Hilarious Sausage. I already did that early this year. Doubled my holding from 10 to 20 million with buys as low as 0.07. Current average 0.135.

Yuri. " Imagine where the SP would be with the continued buying from yesterday and no RNS."

Obviously the buying yesterday was due to a leak about an rns. No way it would continue without one. I would imagine the buyers were expecting something more positive.

Good grief. I've just seen the price. Even worse than I thought. Bloody joke.

Yuri. Yes, too damn right it's sad. I rue the day I decided to get back in 3 years ago. It may well come good one day but by then I may be too old to care.

Harri. They already know exactly where they are going to drill. They hsve had detailed seismic data for many years. They have previously said the first few new wells would be from the existing c77h platform.

NS. There is no chance of seeing 0.15 until the new wells are proved to be commercially viable. That wont now be until the middle of next year.

When at the beginning of this year, we were anticipating the jv, I was hoping for at least 0.2, maybe 0.3. Really wish I'd got out in the high 0.1's.

Quite frankly after nearly 10 years I've had

enough . There's always just one more hurdle to overcome and things will be great. Right !!

Looks like the expected improvement under Selan

was just a mirage. Anyway for what it's worth GLA.

NS. The new wells aren't even going to start for at least 6 months. The workovers will provide some very welcome income but are largely irrelevant to the success of the Cambay PSC. That all hinges on the target flow rates for the new wells being met.

Amy. Whatever you're on, can I have some please?

If it reaches 0.15, I will be gone and just grateful to get my money back. Unfortunately, sub 0.1 seems more likely. Here's hoping Im completely wrong about that. Gla.

" All workover candidates are currently being evaluated with respect to sequencing and technical requirements." That is quite staggering that 7 months after the jv was announced they still can't give any detail on the workovers.

Are they taking the p**s or what ?

Just a list of 6 candidate wells for workover with no details. Workovers to take 6 months and no new wells until after that ? I can't believe what I'm reading. FFS.