Member Info for jackpack

HI Gordon
Consolidation for shareholders in companies on aims whilst you may think is a good idea has always proved a costly mistake there have been many and I cannot think of one where it has worked over the following 3year timescale can you think of any Gordon?
Instead the company needs to introduce a number of catayst over the next two years or so which cause the share price to rise naturally into the pence such as JV, PUMP ,2 DRILL SPUDS, 10 WELL DEVELOPMENT PROGRAME, CCS I actually think Roland and the directors have the right idea and a quick fix solution of consolidation would in my opnion be a bad idea.

This afternoon could be interesting - Grant Shapps is to make a statement today regarding 1000 page report which could also include award of licences etc. Lets see if we have been able to get either or both we have applied for?

As dicko 80 pointed out this morning further to my post from a few days ago the market cap is way too low. RW and the board is going to have to do some work with such as the FCA and MM to stop these pump and dumps happening this is the third one in under a year. Which is a big problem when you are about to enter a JV as it causes a big problem for us raising funds for our share of the cost of the full field development after our free carry for the first two wells. This call into question our reliabilty as a partner and brings a low ball takeover as a solution for any JV partner much closer.

A possible jet pump method to increase oil production from C-19Z will be very important news especially if it can also be applied to the other old wells. Yet nobody has even mentioned it - is it the day to talk syn down?

There have been at least 3 occasions since may last year when the share price has come down sharply over a very short period of time. This may be down to herd mentality and people not wanting to miss out on a profit. However the large reported late buy from earlier in the day if correct smacks of manipulation. The question is why?

Whatever the reason we have a very low market cap and are open whilst our market cap remains low to low ball takeover and cambay or carbon capture are two reason I can think of.

Whilst I remember information to the effect that Roland was going to do more studies before ordering a pump and that it may likley be a jv expense. Wonder if he has changed is mind and one is going to be ordered if not already. After all he now has 650.000

Hi Gordon
People who attend things like the oil and gas event don't usually invest on the day there is usually a lag often a week or more to allow for research and consulting with other colleagues. Also a lot of people have used spread betting and cfds to short this share which has a knock on effect. Lets hope it now becomes unwise to short this share and 2023 turns out to be our year. Our share price is way too low compared with other companies with similar assets and catalyst's

Yes this could be some sort of glitch. However it could easily be something else. The share price is very low brought down by a combination of short selling and lack of understanding due to no proper promotion. We have the Indian oil and gas event with the type of people with access to large amounts of money for oil and gas investments . Then we have potential JV partners who may feel that it would be prudent to have a holding in SYN in case they loose out to another potential JV partner and they need to make a takeover bid. Our share price is way too low at this point and could easily support a share price of 5 to 10 times the current one especially with the future catalyst's over the next 12 months

During most of last year with drill etc and now with JV the directors would have been and still are in a closed period for buying shares . As there is a lot going on it maybe deemed to be a closed period for most of this year.

well well the detractors are out again in the hope of getting the share price down looks like a lot of shorters are in panic mode now with the news to come. BGFI have made a great effort to improve their image in the last few years which is demonstrated by the various committee's who have vetted the potential loan to tower etc. You shorters are really clutching at straws now.

I think we could be missing what is in plain sight in yesterdays RNS - that is other funding as well as the bank loan or is there two bank loans on the way. If you read JA comments in the RNS he mentions funding in the plural and its is stated that this first funding is to be used to fund work program commitments in respect Cameroon, Namibia and South Africa. Over the next few weeks could there be RNS'S landing as each part of funding arrives enabling us to progress Cameroon, Namibia and South Africa a lot more quickly. If this is the case what effect is that going to have on the share price.

Pawnsacrifice
Read the RNS you are so wrong if you don't understand it say so rather than inventing things that are not true.

Thanks crusty lets hope they have already sourced the rig, hope you are keeping well

Whilst a land based rig still has to be planned etc I do not think there is as big a shortage as there is for off shore rigs.

Wonder if Rolands visit to India is for site visits and on site presentations etc to potential JV partners technical teams etc.
Also the big Australian shares sell off never really happened did it I am pleased to say.
The big question in my mind is will we have a consortium of 2 or 3 jv partners due to the size of the investment required or just one.

very unlikely the banks don't usually allow placing when doing these type of loans as it affects the asset value. It seem's almost normal now for someone to appear talking about a placing when ever the price moves. Makes me think a lot people are shorting this share and at some point are going to get fingers burnt.

I think this is one of the very few oil shares that has the realistic potential to multibag this year given the various catalyst to come. I think various people and funds see the current price at just about the bottom and don't want to miss out on the rise when news comes.

The timescale from credit committee to group level decision is too short a quick decision will be mid January and I would expect late January. Remember this will be a low risk loan and good business for any bank

hi Gordon
I still don't think an Australian shareholder would really gain much if any thing by waiting until it moved to uk market. You would have to have a very large holding for it to make a difference after fee's and i doubt if there were that many such shareholders if any.

I would think any shareholder with shares from the Australian market will now be paid for any shares sold in pounds and have to convert to Australian dollars. So if they were going to sell would have done so before the move to avoid extra fee's