Member Info for Jasper13

Lorenzo85...would you care to elaborate more; be good to know. Thanks

Carrott...have you?

We know next news due anytime is the further agreement of a GSA with Singapore for the remainder of the gas. This deal will add significant value, more so than the GSA signed with PGN. Once this is signed it paves the way for two significant milestones:

1. Finalisation of a FID

2. Finalisation of a sell down of some of the licence to a 3rd party

It has already been communicated that EME would participate in that sell down, perhaps relinquishing all of their 8.5% for a cash lump sum. This could be in the region of £20-£30m, giving available funding to drill Topaz, if the licence extension is granted.

The above catalysts will enable much greater enterprise value to be realised, even if its just then cash in the bank.

Agree. You cannot knock what the board have done and achieved this week. I didn’t expect an RNS today and think they have gone a long way to try and calm the situation and be upfront with shareholders. As soon as the deferred creditor agreements are signed, the auditors should sign off the accounts. The broker note pretty much said that today.

No one has also picked up on some very interesting wording in the RNS today about the creditors. It says I quote “a reduction in the liabilities” What could this mean? Interesting?

Carrott….. “had dealings with him in the past” Really? Have we ever met? Oh hang on you used to be Mr Investment didn’t you? Changed your alias as you got banned from this site.

As for scam telegram groups, absolute rubbish. As for did I converse with SYN CEO, yes verbally, via email and also by text. Believe it or not some CEO’s will converse with sensible PI’s.

Your rhetoric towards me just stinks. And you’ve no proof whatsoever of any of your slanderous comments.

I however still have all the communication with Roland Wessell from SYN, as I do with Stewart MacDonald.

Johnbell….. he’s stalked me for ages. Reminds me a bit of the woman in the film Baby Reindeer!! 🤣🤣

Carrott (Mr Investment)....spouting the usual s*** again! What telegram group? You have a really unhealthy infatuation with me. Must drive you crazy!!

Everyone's entitled to their opinion. Its just a shame some feel the need to be derogatory to others that express an opinion different to theirs.

You either believe what the BOD are telling you and the broker analysis or you don't. I would never be swayed by anyones opinion on here, albeit will listen to sound reasoning. Its your own money you are investing so your choice.

So if they can generate £2m net cashflow from their projections, thats more towards the €3.7m stated today. Average PE for oil and gas companies ins 13.24.

13.24 x £2m = £26.4m

Today we are at £1.3m!!!!!

Gordon...as per todays RNS 90% of the creditors have approved deferred payment terms which will be funded from PRODUCTION REVENUE. Not a RAISE. Just need these agreements signed which will then allow the auditors to sign off the accounts. This is a no brainer from here and should be at a market capital of at least £5-10m. So x5 bags minimum from here.

At todays price now of 0.0055 the market capital is £1m. Makes no sense. They are producing and we have seen today the revenue projections less revised costs to make this cash flow positive and profit making.

Seriously undervalued, albeit (before I get shot down), we know it needs to get the deferred creditor agreements and audited accounts signed off.

DaProphet... very dangerous to assume! Haven't been invested in SYN for well over a year.

DaPhophet...the CPR would disagree with that statement about the reservoir conditions. Time will tell. On a positive they have taken positive mitigation action and I do not think all is lost.

So per the broker notes, it's the deferred payment plan agreements that are causing the late submission of accounts. We have already been told 90% of creditors have agreed, so it's just a case of documentation to be signed.

This will not stay at these SP levels for long.

Beacon Energy (BCE LN) announced another update this morning while the SCHB-2 well continues to clean up. The company has reiterated its expectation that the well will stabilise at a rate in the region of 50-100 bopd, which, including a small amount of production from elsewhere in its portfolio, is expected to generate around €2.3-3.7m of sales per annum (at US$85/bbl Brent). With cost cutting initiatives underway, cash operating costs are expected to fall to the region of €1.3m within the next 3-6 months (down from €2.5m currently), which will mean that the company should have a platform to grow from. There are creditors to pay, including current deferred drilling expenses which we estimate total in the low single digit millions. Beacon has engaged with 90% of these, in order to establish a deferred payment plan which will fit with the production profile of SCHB-2. Once agreements are in place, the company should be able to sign off on its accounts, which were due by this coming Monday. The shares therefore will be suspended on 1 July (Monday morning), with the expectation that the accounts will be published, and the suspension lifted, during the first half of August. Ultimately, while the results from SCHB-2 are clearly very disappointing, we believe that there is enough for the company to build from. Understandably, the share price action has reflected the uncertainties around the company’s ability to survive, however we now see a clear plan to keep a grip on what still could be a valuable asset.

Credit to the board for acting so quickly and updating the market on their actions and forward plan. So we can clearly see the well continues to clean up and PRODUCE, yes its flowing, albeit at lower amounts than they thought. Once clean up of completion fluids and spent acid, they should know more of what the stabilised rate will be. They already have an idea 50-100 barrels, but who knows this could be more.

All producing wells tied in could generate €2.3 - 3.7m per annum (£1.95m - £3.1m). After costs reductions taken annual operating costs reduce to €1.3m (£1.1m). At lower end of revenue projections, generates positive cash flow and profitable, and higher end generates £2.2m positive cash flow and profit. POSITIVE

Creditors agreed a deferred payment plan - POSITIVE (from revenue generated cashflows, not raising funds).

Sensible steps to reduce board numbers and costs. POSITIVE

Late filing of accounts by a month or so and suspension of shares is a NEGATIVE obviously, however based on their actions and further forward thinking plans, shares will likely re-list early August.

The market capital based on todays price is ridiculous, assuming they can generate those projected revenues and positive cashflow. If this re-lists in August and we are told more about future plans (potentially more wells subject to funding), then todays price is at bargain basement levels.

Carrott...subtle FUD again.....never changes

Carrott .....once again fixated with a P&D narrative. I like many on here are nursing losses. So forgive me for stating the obvious in that I hope the company can see a way through this and have a plan to get matters back on track. No one likes losing money Carrott, but you seem to be the investing guru and never do. Simple question for you - do you still hold shares in BCE?

Hms687....hardly tedious. Or is it not suiting your narrative. It amazes me the individuals who still pollute these boards, after gloating they've bagged (Carrot) and that the company is going bust. Plainly so many on here still not invested yet seek to gloat. Sick individuals.

If you are not invested my suggestion would be just F*** off and go a spew your bile elsewhere.

Carrott13 (Mr Investment)

Wrong information once again. Nobody has any idea of their cash position - FACT. Other than the company themselves. The failure is not down to the company - its down to the GEOLOGY and technical difficulties encountered with the drill and mud weight invasion.

From recent RNS....

As a result of the current uncertainties outlined above and the uncertain impact on assets impairment and going concern in the accounts, the Company is unlikely to be in a position to finalise and publish its Annual Report for the year to 31 December 2023 ("Annual Report") by 30 June 2024, as stipulated by Rule 19 of the AIM Rules for Companies (the "AIM Rules"). The Company is targeting the publication of the Annual Report as soon as practically possible.

As a result, trading in the Company's ordinary shares on AIM will likely have to be suspended with effect from 07:30 a.m. on 1 July 2024 pending publication of the Annual Report. It is expected that suspension from trading will be lifted with the publication of the Annual Report.

They are having to hold discussions with their auditors around cash, revenue projections and cost base for the next 12 months. Along with I am sure discussions about further working capital requirements. This is standard company/auditor practice. NOTE - the words they use above "unlikely to be" not definitely. "expected that suspension from trading will be lifted with the publication of the Annual Report." No reason to doubt until told otherwise if they get suspended, that they will publish accounts thereafter, albeit late. With I suspect a future strategy and plan.