Member Info for Syste

You're ignoring the trajectory, guess your a newcomer to Serinus. Read past Rns's of production levels a year and a half ago to see what we were producing (2500 boepd). We've now had 3 straight effectively dusters in Romania. What does that indicate about how lucrative Satu Mare concession really is? Ok so we've got Tunisia, where the government and majority partner drags their heels at every turn, where we've literally wasted a year waiting for a elusive rig. If and it's a heck of a big if, we can add those 2 lifts this year AND we get the rates they claim, then maybe we can stabilise the business. But to suggest this company is undervalued is now reaching, because our confidence in what's actually underground, and the ability of this lazy greedy BOD to extract is, in the eyes of many, in serious doubt.

Hate to be proved right again.. No mention of Romanian 3rd drill, and the Tunisia update is all but restating old news. Remember the rig was 'supposed' to be available Q1 2022, now it's 'supposed' to be Q4. They've lost trust now on both timing and whether these pumps will work.

Could easily be another duster and no reason to think Tunisia news is imminent. Just for balance. The same postive messages filled the board when it was 30p. I hope we turn a corner.

Managment should be ashamed. Instead they're laughing all the way to the bank at mug's expense. How much longer the gravy train before money for new drills runs out? If Mofitnu Nord misfires and no progress in Tunisia? . Auld will get his 6p. Where are the idiots spouting about buy-backs 'later in the year'?

You are because I know you are aware of what has happened in Tunisia. We've been screwed by the government wanting to keep the rigs for their own drills. Whether the board should have anticipated this is another question.

where do you get 30% COS? Thanks

Yeah we all know about the revenue, due to the price offsetting 2/3rds reduction in production... Cash will start running out unless we find another Moftinu pretty soon. Amazes me that people can still defend this management's abysmal performance in the most fortuitious environment they could have found themselves in. No meaningful increase in production since 4th Moftinu well- January 2021.

How long does it take them to tie back a successful well to Moftinu plant? You would know if you had listened to the last call. My statement was a few hundred barrels production in Romania by year-end (it was already average 485 for first 6 months) . What is incorrect about that?
We can all be hopeful about Serinus. I haven't sold out because I still believe, despite inept management, that we have very good assets. 45% of 400 million barrels in Sabria, enticing gas plays in 100% Tunisian assets, etc. The latter is on every presentation but seems to be kicked into the long grass, which is emblematic of the general state of affairs. For example, around 1 year ago we discovered a gas field Sancrai in Romania. Instead of pursuing that when the first well failed, they decided a whole 12 months to speculatively drill somewhere else, leaving the company to at best stagnate. Meanwhile other gas producers have been raking in profits, doling out dividends, and increasing production.

Look back at previous RNS's of Romanian production (which I'm talking about) and work out the decline rates. Granted it will decline slower the smaller the production gets.

Nah they won't buyback when their ability to generate future revenues looks in jeopardy. My guess is we're heading for a few hundred barrels production by the end of the year. I also assume they evaluated Canar as their highest COS. Anyway let's wait and hope that Moftinu Nord is named prophetically.

I mean in terms of what you're posting. It's clearly not based on objective reasoning. If you're in, you'll attack people making valid criticisms, despite the fact that in the past you have done the same. I don't think people should pay any heed to your posts when their sole purpose is to further your benefit. Hopefully I'm making people aware of your agenda.

I don't think O2B should get any credit, he's been posting inane rampy stuff for weeks, while I've been one of the few contrary voices. Glad to see your blinkers are falling though O2B. Biker is an idiot, not too long back was lambasting this company, then when he bought back in his sentiment did a dramatic u-turn. LTH's like myself at 2.5p or worse are the ones with a clear view. Failure after delay after failure. Questions has to be raised now about the true amount of value in Satu Mare. Tunisia I'm more confident of, unfortunately nothing gets done there either through corruption or incompetence or both.

Not sure about that, how confident will people be now with two failures in a row?

True but with no progress in Tunisia, and already low production, this is really discouraging news. This company is being kept alive by inflated energy prices, when it should be using them to grow the company.

Perhaps the market factoring in that tin prices have dropped since these results.

Pointless speculation again. What will happen to the SP if we can't flow gas again? You keep avoiding that possibility.

Come on O2B chap, do a normal post for once. Unless you're what Serinus counts as it's company promotion. Everyone reading this board knows what we're waiting for. Looking at previous drills, it's been about a month before news, so early September would fit.

I'm well aware of that. But practically speaking, right now, it amounts to the same thing. On a couple of the calls they've said it could have been a number of problems, & they can't determine which without going back into the hole. I do now question if it didn't make sense to do that, but that's a seperate issue.

No point speculating. There might be lots of gas, or it could be another duster. With interminable delays in Tunisia, I think it matters a heck of a lot.

I bet Ben (and us shareholders) is kicking himself that he couldn't get that over the line. I don't know how much was out of his hands.