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Sausage ...et al...
Just for the record I am no longer invested in SYN (they are also aware of this). I am aware of certain individuals still posting vexatious and abusive messages about me, which both LSE and SYN are fully aware of. I am not the poster ShortShrift, which certain individuals seem to think I am. Perhaps ShortShrift you would also care to confirm that.
LSE are monitoring the comments being made on this board and will take the appropriate action should these continue.
I wish everyone well with their continued investment in the company.
Just thoughts. Who is to say that for a justifiable commercial reason that testing has been delayed. Perhaps instead the focus has moved to :
1. Focus on drilling MOU5 - location, permits, rig, etc
OR
2. Some form of M&A activity on the basis that the potential acquirer of all/or part of the licence has seen enough data to put money on the table.
Either way there is something of significance going on behind the scenes, hence the radio silence.
Coldspy...good to see you again. I am of the opinion we are going to have some good news soon. Do you share that sentiment?
Extract from the Reddit Sleeping Giant Post. Once again GRH calling this out and proving to be correct.
‘The proof is in the pudding:
There is more in his posts, and I only provided a few examples.
One last example... which I think is also very interesting and makes me wonder how much information/data he has in his desk drawers?
While I was posting the picture with a sandstone lens - above in Section 11: Net pay estimates, it reminded me of something.
Unfortunately, I don't have the time to search out the original post, but for curiosity & in general:
Early last year, PRD issued an RNS talking about what they believed could be a lens sand structure or something to that effect. It was spoken about after.
The seismic analysis returned that it would be isolated and sit separately/higher than the main lower body of sands - Not continuous.
GRH posted on the BB soon after that RNS.
He said he believed that the ‘lens’ structure was not separate.
Or another way- The sands from MOU-1 to MOU-4 would be continuous... i.e. connecting the two wells. I believe there were a few persistent posts.
The implications of this on the potential size and volume of the structure could be significant.
PRD then released an RNS after more seismic analysis had been done, which confirmed this to be the case.
Continuous lower sands. RNS below.
RNS-2021- JUL-19
"MOU-1 delivered a result that allowed us to de-risk the MOU-4 Target whilst unexpectedly validating the pre-drill seismic "bright spot", related to the presence of gas, as being attributable to the western limit of the MOU-4 Target and not an isolated target as previously interpreted above what was thought to be the pre-drill MOU-4 Target equivalent section.
Preliminary seismic re-correlation of the TGB-2 objective to the MOU-4 Target confirms that MOU-1 successfully proved up and substantially de-risked the MOU-4 Target."
I believe that result led to the company wanting to target MOU-4(2) asap.
On point, to put it mildly.’
Yesterdays RNS was very detailed, but was also more about joining dots. Statements/narrative were made that leads me to believe, that news is due that will feature M&A activity.
Quote that stood out....."to attract larger entities to assist in addressing future monetisation"👀
No mention of testing completion in Sept, as has been previously announced. Just reference to it being initiated and completed in 2023. Why? Have they enough data now to embark on a commercial transaction with another entity? Could structure a deal that is "subject to flow rates."
Are we going to see one more drill before testing to prove up even more volume and acreage?
Something tells me that behind the scenes activity is afoot. Just my opinion. Keen to hear others thoughts.
Redmonkeydave...there has been lots said about connectivity in previous releases. Plus our well researched posters have shared copious amounts of detail on this.
RNS 19 July 21 - NOTE the words "not an isolated target" - now what could this suggest?
"MOU-1 delivered a result that allowed us to de-risk the MOU-4 Target whilst unexpectedly validating the pre-drill seismic "bright spot", related to the presence of gas, as being attributable to the western limit of the MOU-4 Target and not an isolated target as previously interpreted above what was thought to be the pre-drill MOU-4 Target equivalent section."
"This has allowed the Company to maintain an undiluted interest in its assets thereby providing the materiality necessary to attract larger entities assist in to addressing future monetisation of the assets."
This is a key message for me. Who are these larger entities? And more so what conversations are taking place.
New risked NAV from 19p to 9p.
Try reading the company RNS valuation....might help you understand it !
Https://www.londonstockexchange.com/news-article/EME/mako-gas-project-updated-plan-of-development/15621592
Https://www.londonstockexchange.com/news-article/EME/mako-gas-project-updated-plan-of-development/15621592
This was released by EME in Sept 22, stating an NPV of US$49m for 23.8 BCF. Conrad since updated their numbers to best case 413BCF which is also the number in the non binding terms agreement. That increases EME share at 8.5% to 35BCF and equates to a 47% increase, so NAV increases to $72m (£56.5m).
No buyer is going to pay full NAV as they will want a share of the upside for themselves. Let's assume a simple 50% of £56.m NAV, so buy out price £28m NAV. There are 981m shares now in issue, so on that basis 2.85p per share for Mako approx.
"Focus will now be on converting this significant milestone into a binding gas sales agreement. The existing terms will be welcomed by those parties currently participating in the sell down process to fund the development of the Mako gas field."
This will no doubt give confidence to any potential partner/acquirer to continue positive discussions to draw up terms for any deal.
Article earlier today in "Upstream ".This work is part of FEED so Conrad obviously pressing on to meet FID targeted for year end, regardless of the GSA and any divestment before then."Kick off for key contract to develop major unexploited gas discovery.SURF's up: EPCI contract to exploit Indonesian gas fieldProduction start-up eyed in 2025 from Conrad's Mako project7 September 2023 1:26 GMT UPDATED 7 September 2023 8:49 GMTBy Amanda Battersby in Singapore Singapore-headquartered Conrad Asia Energy has hit the streets with the engineering, procurement, construction and installation (EPCI) subsea umbilicals, risers and flowlines (SURF) contract for its Mako gas field development offshore Indonesia."
So Jonny if you took part in the placing as you are suggesting, you may have a good idea which insti was also involved? I know someone who took part, with a rather large sum and has a very good idea of one of the insti's involved. Care to share your thoughts?