Member Info for jackpack

IRISHMOUSE Hope you are keeping well and lets hope 2023 turns into a good year for AEX and all us long term shareholders. Lets raise a glass to the captain a friend well remembered.

HI Sausage
If you read the above RNS plan is complete and pump etc is on order -that was 3 weeks ago so they may even have them by now.' Condensate rich Eocene reservoir' makes me thing condensate over the next few years is going to provide a good income stream as well as gas.

Hi Gordon
Been reading your recent posts with interest. I still think the way forward is a consortium. However if 50% of cambay equates to 2 wells I think that's going to be approx 30 million which is 60 million for the whole of Cambay. However any jv partner would have to fund their half of the full field development cost. Personally i think at the moment Cambay if sold with proper marketing would fetch 100 to 200 million or 1to2p per share and once developed could be worth upwards of a billion it may be of interest to a group like ARA have to wait and see. It should be remembered that the Indian government want to move this along as quickly as possible.

Hi Gordon
Wonder what has happened to the full field development from last year. Although as well as the money they would need a rig for most of a year which with the shortage of rigs is just about impossible.

Hi Gordon
From memory the reason for the full field plan is because they want to tackle Cambay in a different way which involves multiple wells. Thus its either a multi national or a consortium in my opinion. I don't think they just want to drill one or two wells. Anyway its wait and see time off to bed now.

Its also worth remembering that the Indian Government are pushing for this to happen quickly. I personally think like the oil and gas pipe lines in India it will be a consortium constructed by the firm Roland has engaged to manage the joint venture given the large sums involved.

Don't lets confuse JV with next drill. Once the condensate is sorted and a jv is announced the large amount of money for a full field development investment by a joint venture partner is going to cause the share price to motor. I think it could be 70 to 100 million at least depending on the number of wells.

Hi Gordon
I always though mid year Its all the paper work basically and this is India after all. Big investment projects such as a full field development cost a lot of money and everything has got to right. Look at ARA and Aminex the big thing is with the right investment SYN share price should be very high

Hi Gordon
YOU may have hit a very valid point if there is a large number of old wells that have never had frac treatment would it not be logical, quicker and much cheaper to frac them. I think we may need the view of an expert such as Roland indeed this may be why he is looking at all those old wells.

Why revisit old wells at this point is it that there is possibly vast amounts of condensate that can easily be sent to market as a by product of the recent frac I wonder. Would it also give key information as well as income ahead of a full field development to refrac a group of these old wells across what is a vast acreage now they have the experience of the recent refrac. Aother point is would they achieve they same income at far less cost by refrac of all these old wells after all there is a large number of them.

I think what is often forgotten is that AEX is the only way of investing in this gas project for small and medium size investors. ARA are basically I believe a private company and as such a strong AEX share price in time to come may well be used as a yard stick for the project value to some degree. This could turn out to be of great benefit to the Zub's.

The .28 share options expire on 31st December not sure if there is any significance or not with the Australian share tidy up operation under way.
We certainly have cleared the decks for what I wonder?

This in my view is a tidy up operation of the share register prior to merger, takeover, substantial third party investment .Which in some way ties in with the on going JV negotiations and probably designed to save time in the long run.

The seismic's around the drill site must be good or this would not be happening. once the rig arrives I think it will be with us most of the year with various on going catalyst as we go through next year. I think it was 2017 when the share price reached 7p and at some point next year we could see that again. I also remember 10 plus years ago selling some at 12p and aminex is now the only share on lse where investors can buy into this.

HI Gordon
Its the width of the well bore not the production tube which is wider and its aditional to the 17bpd and whether it turns out to be constant flow remains to be seen but RW and team are doing a revised completion string with pumping system thus must be a lot more down there than first thought.

A column of condensate that is almost one mile long is virtually un heard of and worth a considerable amount of money to SYN. I suspect totally unexpected and requires careful extraction.

1. Directors often retire in rotation and seek re election at the same AGM
2. I see angus energy are getting a second compressor to lift production from 6 to 12 million cubic feet per day. It is these types methods that syn will design and install to ensure robust gas production.
3. Any spread bets on the short side on syn could loose a lot of money if any positive news re jv in the quarterly report.

Hi Gordon
The market cap bears no relation to the value of Cambay and in many respects it would be better for shareholders if the entire company were sold rather than just cambay if we arrive at that situation rather than a jv. My reasoning been that market forces once it became known that there were bids for the entire company would take over ensuring shareholders got a fair price. Rather than shareholders just been told of an offer for cambay and been simply asked to vote it through. Remember the rns seemed to make a point of not telling us who were acting on our behalf which i thought was strange

Hi Gordon
Any jv Would include a free carry for syn share of the cost of the full field development there would be little point in jv otherwise where we give up 50% of the field a good example is ARA and aminex.
If we sell cambay the sale would have to be in the 100's of millions given the gross value of the known reserves. To give you an idea when the full field development is up and running the monthly income could be 20 million and to sell cambay for a sum equal to approx one months income is really not on.

Hi Gordon
lets say a bid for 100 million for the whole of cambay comes in which is approx 1p a share. Then there are no more drills and syn is left with RW co2 projects and 100 million in the bank . I actually think 2 or 300 millions is possible given the demand for gas in india but you see my point.