Member Info for Ssccss

Agree Sausage

Yes the offer does have to be put to shareholders. They have probably taken the 0.5 mill to pay their salaries lol. I'm joking but it wouldn't surprise me.

Kong, you really are banging the drum for SL aren't you. Absolutely nonsensical. You sound quite enraged on his behalf too. Funny that. Shareholders are NOT the ones in the wrong here. We simply want to uphold our rights.

I should think it has been paid elegance.

Jfjam, it's difficult to say what he will do but I'm sure he will at least try avoid getting booted out at AGM. It depends on whether he can pull it off within the loose confines of the law... I should think they are all on very shaky ground tbh.

I didn't say CCS was attractive. Quite the opposite.

Try to forget about it for a while. They will be trying to wriggle their way out of publishing audited accounts and holding an AGM.

I agree with selling cambay if we can't get selan to do any work. However, it seems we are selling it super cheap? What about the previous 50%? What do we get for that? Hardly any work has been done. Total rip off.

Additionally, how is CCS a good play? We can't even find another JV partner and politically things are moving away from CCS?

Don't tell me we are still considering working with the Indian government on a CCS project. Is Roland having a laugh after what has happened? If the new dawn involves CCS or India, absolutely no one will be buying into that. Wind syn up, return shareholders money and retire. Syn has done absolutely nothing for years and years now. This was supposed to be the new dawn, money coming in from Cambay and CCS as the new focus. Both have failed miserably. Nothing more to be said. Roland can't even face discussing the situation. Really not sure what they are all being paid for. Abysmal.

It would be beyond outrageous if they are just going to keep paying themselves from the £10m, which adding absolutely nothing to syn or shareholder value. As they have done for the last 6 years.

It really appears I for one, overestimated Rolands abilities. I really hope he does have a decent plan for syn going forward (not CCS) . If he doesn't, then the honest and most ethical thing to do would be to wind syn up and return as much money as possible to long suffering shareholders.

Couldn't agree more. Apparently such a great deal but he doesn't want to talk about it lol.

Thanks Gordon.

Kong and NU double act. Keep it going guys. No one is reading anyway.

is an interview happening? cannot wait to hear what roland has to say about this continued ****show.

True GW

This is from a post on ADVFN:

This was my draft made late last night. I have just copied and pasted it below; haven't amended it, but clearly some points are answered by your posts.

FWIW I'm voting against the deal and I think others should do so too.It's definitely not clear why it is in our best interests to take this offer.

What is the net amount? It's not even clear where the 6 x market cap comes from. Who cares about 6?x or whatever it really is (yes it is easy to work out if you knew the net payment) if the share price has been beaten down by considerably more than 6x

The JV is currently ramping up operationally - to add value or reduce the discount to NAV - we have to drill and find commercial quantities of oil or gas or both - so why sell at the very point when the NAV discount can be reduced - what was the point of investing here in the first place if we weren't going to drill?

Sometimes there are stories of AIM companies being seen as manipulated both in share price and Operational performance. Then a low bid comes in. Remember that SYN was insisting that the proposed JV not be the lead operator? Legal? RNS 04.04.25 - 'The Company will continue to work closely with Selan to bring forward the drilling date as soon as is practicable in 2025 consistent with the WP&B approved by the Government of India and pursuant to the terms of the farm out agreement'. Was it in Selan's best interest to slow down the process from day 1 and wait for SYN to implode under dilution?

14m USD is less than the free carry so it's cheaper for Selan to give us this deal than carry on their responsibilities AND they get the remaining 50% for free. For free. How can the offer of £nil, reflect the 'independently certified 2P gas reserves of 206 BCF (as at 1 June 2022)' RNS 14.02.24. Surely 206BCF and the rest - are worth more than nothing?

The opportunity cost BTW is minimal - the 14m less taxes and other costs will just be put to CCS pipe dreams - the small amount of cash is designed to be used as a sweetener. If the SYN had a decent business after Cambay, then they would have the opportunity to invest it, all of it, not to include a pay out to long term shareholders.

If someone has an account on the other board, please copy and paste it there.

Roland has played right into Selans hand. Intentionally, who knows...

VF there is no incentive for Selan to do any work to find anything! That would be a bad outcome for them. Nothing will happen.

Selan have no intention of making any further progress on the workovers or wells until the sale goes through. Why would they? Makes zero sense. Syn have totally messed this up.

"playing god"? Tone down the drama Kong lol