Member Info for jackpack

Hi Kevers

I disagree with you . You are saying that TRP have spent the other 5 million and not told us, that amounts to a third of the cost of the drill. Also as i said with bank loan they just about have enough for the drill

Hi Gordon

Yes I agree the end comment was very much tongue in cheek. I also more and more think it would be very difficult for SYN to sell cambay without selling SYN as a whole via shareholders selling their shares. The tax situation with a cambay only sale would be very difficult and could take years to resolve. Look at aex scirroco and ara 25 % only purchases how it is dragging on. Wonder if Roland and the team would give an idea as to how much they think SYN is worth it might even help the share price.

If as suggested trp took only one million which is quite possible as they would have had to rns what they spent such a large sum on . That could mean that with the bank loan plus some from the latest raise spent on the rig we will have enough funds to do the drill. When you go through the rns's it does seem to add up.

I have spent the weekend going through aim oil & gas shares which I do usually every year or so and I'm not finished yet. The one thing that strikes me so far is the number of companies that have disappeared due to takeovers of one form or another. I put this down to low share prices generally making them very cheap to buy and companies with large cash balances due to the high oil and gas prices looking for cheap bargain companies with potential which SYN now are as a result of Roland and is team. Lets face it a share price of .14 is extremely low even at double its still too low and will be until it get to at least 1.5p . Anybody on good enough terms with Roland to ask him if he has had informal approaches.

Hi Gordon

As usual you seem to leading the debate - my thoughts are re the pump that from what I have seen in the last few years they are usually very effective at producing a large increase in production in our case I expect both condensate and gas to benefit. If our potential JV partner is industry aware of this then it may be factored in already to the deal if not Roland would be wise to wait for the increased production.

Hi Gordon

If its just one share on a day you are right . However when you see 2 penny shares on the same day which start out at a similar price go up or down by the same percentage and its happened on many occasions it does make me wonder . Follow a number of oil and gas shares on a daily basis and look at the similarities

I have a number of oil and gas shares both that I own or just watching. It often strikes how often several will go up or down by the same percentage more noticeable with penny shares. When they go down approx 20% i always put it down to mm protecting themselves rather than the bad news warranting the large drop

Hi Gordon

I have just read the energy voice article and it just says the same as the RNS that they were unsuccessful with the first licence and they are under consideration for the second. I have been reading energy voice for years usually very accurate and the fact they mention SYN gives me a little hope

Hi Callum

Good find lets hope we now get a ccs licence

Hi Gordon

I like you think with a few adjustments etc that we could be in line for the second licence, after all too many others after the licences to stand a realistic chance of getting both. One thing to consider if cambay operatorship goes as part of JV then the only thing left for our very experienced management team to manage would be ccs licence or we sell SYN which I thing would have asset value in order of 200 million.

Look at the posts this morning - the shorters are out in force again using cfd's and spread betting I assume . they must think we are really stupid to fall for there ploy to bring the share price down to make them a profit

Hi Gordon

I understand your point however ccs if we get one or two licenses will still act as a catalyst just not as big as a catalyst that is going to give income next month for instance and they could start development work within 12 to 18 month. This again will help build share price momentum especially with all the managed environmental funds who may buy in for long term capital appreciation thus not to be dismissed more to be encouraged for the sake of your and mine share price targets.

Hi Gordon

Like you I have no real knowledge of ccs. However there is talk of it been worth billions - I don't think anybody knows how it will affect the share price but if we are lucky enough to get one of the licences or maybe even two its a share price catalysts .So no negative posts please remember you have your share price target of .4 you could even congratulate Roland and the team after all the object is to get the share price up as much as possible as quick as possible and establish a new price base.

ate

This to me sounds like we could be heading for a quarter 3 drill. Why else would Tower be getting the Prime minister to issue instructions to rush the licence extension through . Also a rig contractor starting some of the work it now sounds more and more like this drill is going ahead very soon. In which case todays placing will quickly be forgotten with the price momentum during the drill. it should be remembered that it is already know there is oil.

Hi Gordon

I think your .4 should be easy to get to with the first batch of catalyst's and possibly somewhere between .4 and 1p also more than possible and as I have said before when our new joint venture partner drill some wells the momentum run up to drill results should take us into the pence

I think there are two distinct groups of catalyst's this year. First group cc licence awards, pump and increased production JV signed. The second will be momentum on the run to drills later in the year as a result of JV. The latter been the most important as it should take us from a share price of hopefully by then just under a penny to a share price in the low pence and a good profit for all - pure conjecture on my part of course but the history of other oil and gas shares is on our side.

Hi Gordon
Depends what the money is for if Cambay they may be able to make a charge against a free carry. If they get a cc licence award they will need finance and I would think be able to use some of that. Also as a last resort short term overdraft until pump up and running etc.

Hi Gordon
Capital gains tax or Indian equivalent is a different type of tax and nothing to do with profit or loss. It is to do with asset value and whilst a free carry to increase asset value by an incoming JV partner would be tax free. A cash payment would not be as it would be deemed a part payment for the asset thus best avoided .

Hi Gordon
I would think like in the uk where any cash payment would be deemed as part payment for the asset and would attract capital gains tax it would attract the equivalent type of tax liabilty in India. Aminex had a similar tax problem in tanz a few years ago which took a year and they still ended up paying. Thus I think a larger free carry is best.

Hi Gordon
I think as operatorship is involved it will have to be at least two wells possibly more doubt if any cash as that could bring in an unwanted tax situation. Aminex ticker AEX may be a good example they seeded operatorship to ARA and they got a free carry which enabled them to cover there share of expenses. This is going to have to be a number of millions and that alone should see a good increase in the share price.