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I suspect the £775K raised in July has gone or is significantly depleted, so rather than securing a work over rig "Planning Logistics" is the only option available without a committed JV in place. Not sure how much longer SYN can dine out on Roland's optimism without having something actually signed, sealed and delivered!

Us LTH's have been patient for an awful long time, the reality is, its about time SYN actually delivered something a bit more meaningful than just more than warm words and followed by further delays! If not now when?

I don't think anything SYN/OILEX have done has happened in days, progress is normally measured in years and even decades!

Based on the RNs from the 26th July , SYN will already have a weeks worth of Data from the C-77H well and Roland did say the JV deal was not dependent on the Electric pump being in place , so anything is possible. Unfortunately with SYN, history suggests more waiting is the most likely outcome!

Gordon, the timing of this RNS's is very interesting, also the fact that it has had little to no effect on the SP. I know it seems crazy but I'm expecting more news soon. Sorry can't help but feel a little positive at the moment.

Gordon, If Rolands NPV figure of 700+ is to believed and with (as you say) 125m to be offset against profits; Republic quiet accruals at these levels may prove to be a stroke of genius, and given their "sophisticated Investor" status not as risky as it first may appear.

Elegance

Let me add to that thought, SYN have nearly 40M of losses they can offset against future profit (crazy to think that might happen with this lot but you never know). Republic may have a eye on that as they increase their position at such low values.

Sausage - I'm afraid the years of disappointment have taken their toll and I have little to no faith in Syn to deliver anything on time or that can be counted as meaningful progress. I really hope I am wrong but I don't hold out a great deal of hope.

Sausage

I think what you meant to say was this move very little because news never comes!

Gordon, my guess is the pump is not theirs, previously they said Electric pumps were too expensive, then suddenly we have one on order. We give up operational control and a 51% stake, and state that to Joint venture is not determined by the Pump being onsite and working. My guess (an optimistic one I admit) is that our prospective Joint Venture partner is providing the Pump as part of the deal and that is why everything is taking so long and information is so scarce. Let's hope hey!