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I really should have done the same (in 2021) and I knew it, I made the mistake of speaking to Joe (at the time) and then Roland. Of course they were both extremely positive about the potential, so I relaxed too much and didn't apply the critical thinking I should have done. Lesson learnt, so having done the crime I'm now doing the time, so too speak!

Gordon, I thought the same at the time, but assumed that a JV announcement would happen quickly after the new baseline had been established as that might have been the sticking point, but still nothing. I had an opportunity to get out of OEX without a loss when they got the 100% ownership; despite my frustration even then I didn't take it. Looking like that may have been a very poor decision on my part.

Alarm Bells are ringing for me, it's simply taking too much time.I wonder if the potential J V partner have doubts about the asset value SYN consider the field to have and this could be the sticking point or even a deal breaker.

Language Gordon, Unusual for you!

You wouldn't want SYN doing any work on your house, not at the pace they move at anyway!

ShortShrift, you make valid points and I so want to believe, trouble is I've been in OEX and now SYN for so long, the narrative has lost some of it's shine. Candidly we've been here so many times before, with various CEO's; I too am hoping RW is different, trouble is the performance, dilutions and delays all seem remarkably similar.

I'm not sure which is worse, the frustration, the boredom or the depression. Certainly doesn't seem like a company about to do some serious drilling in 2024!

Love the Optimism!

Our problem is Cash, the auditors have (for the last 2 years at least) mentioned "going concern" issues. SYN (and Roland) have had plenty of time to deliver. I would imagine the patience of Republic is being severely tested. The ROI for them must make horrendous reading.

Sausage, They may promise the AGM RNS today, but with the usual delays we will probably be told it will arrive QTR 1 2024; then of course there will be the further delay to H2 2024!!!!!!

I've been with OEX and SYN for some time, so I would love to go and perhaps let off a little steam, trouble is I'm away! I know AGM's aren't the right place for it but crikey we could do with a big "Reveal"

Anyone going to the AGM tomorrow?

My maths aren't brilliant but cash burn must be circa £10K plus a day so more dilution must be on the cards soon without any substantive news.

Sausage, it seems a little depressing we are still waiting for something, we should had had ages ago. The one thing SYN are really good at it seems is making Mountains out of Mole hills.

Back in Feb everything seemed so positive:- Roland Wessel, Synergia's CEO, visited several companies in Delhi and Ahmedabad concerning the Cambay field farm out process. These companies are finalising their due diligence and detailed technical and commercial discussions are ongoing. Synergia is optimistic that a farm out arrangement will be achieved, enabling the commencement of the full field development in 2023. To this end, preparations have been initiated to procure the required services and equipment to drill the initial two new horizontal wells in the Cambay Eocene gas reservoir, including a field inspection of a modern drilling rig suited to the Company's requirements.

9 months, 2 placings and a convertible loan later the wait continues. Drilling in 2023, goes to QTR1 2024 then H1 2024.

9 months also to get a pump operational and still no stabilised flow rate, and we are supposed to feel excited they want to retain operational control!

Feeling disheartened has become a bit of a habit here I'm afraid.

I think there will be an announcement (about the Diamonds) this week, to coincide with Zimbabwe hosting the Kimberly Conference.

Gordon I think you are right, with the current cash burn and concern over any Risk/reward profile of a Plan B, I think SYN have worked themselves into a very tight spot. What concerns me is that the harm this delay is causing may prove irreversible.

Sausage, I'm not sure you factored in the 15BPD of water currently being produced into your initial calculations (I might be wrong though so apologies) I appreciate this is a variable figure but with the current rate of progress I think it's more likely the fluids will be out towards the mid/end of next week.

Generally with SYN (and OEX previously) when things take this long; they either end badly or in a massive disappointment. Hopefully not this time! Sure Roland has a long term strategy in play, trouble is, will the company be around for long enough to see it through? To say the JV is important is an understatement. As Gordon says "C'mon Roland get the bloody jv over the line"

"when all is said and done, less should be said and more should be done." I suspect LTH's are frustrated at the delays with the JV announcement and concern about the ongoing Cash Burn. It's not a good combination given the circumstances.