Member Info for Syste

It's usually ~ 4 weeks going on past drills.

They drilled Sancrai as well. A successful result for Canar will shift the SP more.

That's a childish response. No we won't run out of money for now, but we're not taking advantage of the high prices with good production either. Same old presentation & uninspiring answers. Looks like the market agrees as we're only up 4%. Not the huge re-rate ramped by Earl.

Good results but disappointing that a) no date for Tunisia pumps, sounds pretty bleak situation b)Even if Canar flows Gas, have to wait 3 months for it start contributing. All the while, production is declining.

Yes that's auspicious news. My worry is what will Tern's stake be when FVR is eventually sold? Down to 16% now before series C funding.

Fine with me. I just don't like disingenuous stuff being posted. Expecting some big re-rate is pure fantasy. We've had good revenue the last 2 quarters and the SP has fallen because there's been no drills. We sit here at 'junk' levels because of inept management. Let's not 'let them off the hook'.

Ah now you've switched to Revenue. Truth is the market needs to see production increases. It needs to see there is the resource in the ground to be exploited. Like I say, what it will see is production well below 1000, unless stuff has happened behind the scenes. Senx's 200 barrels per day will be in mega demand though.... No doubt Auld will pat himself on the back for the high prices.

Earl, please can you explain 'Q2 is the one SENX should make good reading in production.' with reference to the average production in Q1? Thanks

I thought this was cheap at 2.5p last year. Now I am down substantially despite the great fortune of high prices this company has squandered, by letting their production inexorably slide.

That is so dumb and rampy. No known increase in production and average production likely to be well below 1000 boepd. Presentation probably the same one they've churned out the last few times. Last time this happened the SP dropped because, once again, production had declined with increases only 'planned' for Q2. Q2 has been and gone without any news from Tunisia.

The BOD also seem to have forgotten this.. incredible that they've done nothing since Sancrai, almost a year ago. Mid July for Canar? Q1, then Q2, then some unspecified time for Tunisia? Honestly a joke.

Not really, Serinus have only ever developed the Moftinu field. Assuming it behaves similarly, and it is not another Sancrai, from memory it's something like 700-1200 boepd, and note that they seem to decline quite sharply. It is still very economical however.

Literally nothing is on time with this company. That presentation still says Tunisia lift program starts Q2. We've heard zilch, apparently still waiting for the elusive drill rig. Auld should immediately announce a salary cut consistent with the MC he has dragged this company down to. I hope this message 'anti jinxes' matters and we get a RNS tommorrow with news from Canar..

David, how much chance do you think we have? I so want GC and co to be defeated. They haven't even had the decency to apologise for the Grosvenor debacle. Remember when the previous funding broke down because we wanted a better deal? And now we get mega dilution at .3p, with the hint of yet more dilution if Grosvenor come on board, undoubtedly below 1p. Nobody can defend that.

Totally agree. Incredibly disingenuous statement given all that's happened. My 'favourite' part is where they claim Align could take shares at a lower price than .3p if that's where we are in 2 years time.. rather worrying when at point they say we should be well into producing and selling! Let's get rid, a massive placing at .3p is daylight robbery and no,not all shareholders can 'hold their corner' despite their arrogant claims.

I think they're just being cautious. Don't see close to $1.7m for 2nd half, which is usually the better one for ITX. And I'll be pretty disappointed if it takes 10 years to get to $75m!

You're forgetting the part where the BOD have been stringing investors along with Grosevenor. A much higher placing could have been done a year ago.

Amazing when they spent the best part of a year telling shareholders the funding will be done at 1p. They are a disgrace, and need booting out.

They must have had the rig by now. What's the outcome and why the selling when we're about to drill in Romania?

A few weeks back you were suggesting there would be a big exit before the Piri deal. Without that there is no sense in this for TERN shareholders. If DA is the unicorn people suggest, then big companies should be knocking on the door now with an offer in the 100's of millions, not waiting around (another!) 2 years to pay billions.

How dare the board try to shaft shareholders when Align had previously offered less dilutive funding. I applaud Align, looks like they are acting honourably to stop a dreadful betrayal.