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<DIV style="width:654px"><P style="line-height:18.667px; margin:0px; font-size:16px" align=center>UNITED STATES</P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:16px; font-size:16px" align=center>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>
<P style="line-height:21.333px; margin-top:0px; margin-bottom:18.667px; font-size:18.667px" align=center><B>Form 8-K</B></P>
<P style="margin-top:0px; margin-bottom:13.333px" align=justify><BR></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:16px; font-size:16px" align=center>Current Report Pursuant to Section 13 or 15(d) of<BR>
the Securities Act of 1934</P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:13.333px; font-size:16px" align=center>Date of Report (Date of earliest event reported): &nbsp;October 2, 2007 (September 26, 2007) </P>
<P style="margin-top:0px; margin-bottom:13.333px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:13.333px" align=justify><BR></P>
<P style="line-height:normal; margin-top:0px; margin-bottom:16px; font-size:18.667px" align=center><B>Synthesis Energy Systems, Inc.<SMALL> <BR>
</B><BIG>(Exact name of registrant as specified in its charter)</P>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0 align=center><TR><TD width=247.2></TD><TD width=84></TD><TD width=126></TD><TD width=181.2></TD></TR>
<TR><TD valign=top width=247.2><P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>Delaware<BR>
</B>(State or other jurisdiction <BR>
of incorporation)</P>
<P style="margin:0px" align=center><BR></P>
</TD><TD valign=top width=210 colspan=2><P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>001-33522<BR>
</B>(Commission<BR>
File Number)</P>
</TD><TD valign=top width=181.2><P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>20-2110031<BR>
</B>(I.R.S. Employer<BR>
Identification No.)</P>
</TD></TR>
<TR><TD valign=top width=331.2 colspan=2><P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>6330 West Loop South, Suite 300</B></P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>Houston, Texas</B></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:16px; font-size:16px" align=center>(Address of principal executive offices)</P>
</TD><TD valign=top width=307.2 colspan=2><P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>77401</B></P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>(</B>Zip Code)</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:16px" align=justify><BR></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:16px; font-size:16px" align=center><B>(713) 579-0600<BR>
</B>(Registrant&#146;s telephone number, including area code)</P>
<P style="margin-top:0px; margin-bottom:13.333px; text-indent:24px" align=justify>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-right:-18px; text-indent:24px" align=justify>[ &nbsp;&nbsp;]</P>
<P style="margin-top:0px; margin-bottom:13.333px; padding-right:-18px; text-indent:54px" align=justify>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:24px">[ &nbsp;&nbsp;]</P>
<P style="margin-top:0px; margin-bottom:13.333px; text-indent:54px">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:24px">[ &nbsp;&nbsp;]</P>
<P style="margin-top:0px; margin-bottom:13.333px; text-indent:54px">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14-2(b))</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:24px">[ &nbsp;&nbsp;]</P>
<P style="margin-top:0px; margin-bottom:13.333px; text-indent:54px">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CRF 240.133-4(c))</P>
<P style="margin:0px"><BR>
<BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="line-height:18.667px; margin:0px; font-size:16px; page-break-before:always"><B>Item 1.01 Entry into a Material Definitive Agreement.</B></P>
<P style="line-height:18.667px; margin-top:6.667px; margin-bottom:6.667px; text-indent:48px; font-size:16px" align=justify>On September 26, 2007, Synthesis Energy Systems, Inc., a Delaware corporation (the&nbsp;&#147;Company&#148;), entered into an amendment (the &#147;Amendment&#148;) to the Joint Development Agreement between the Company and Ashmore Energy International dated July 10, 2007 (the&nbsp;&#147;Agreement&#148;). &nbsp;The Amendment allows the Company to terminate the Agreement if AEI has not purchased 1,750,000 shares of the Company&#146;s common stock on or prior to October 15, 2007. &nbsp;The Amendment is filed as Exhibit 10.1 to this Current Report on Form 8-K. &nbsp;</P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=justify><B>Item 9.01 &nbsp;Financial Statements and Exhibits</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; padding-left:108px; text-indent:-36px; font-size:16px" align=justify>(a)</P>
<P style="line-height:18.667px; margin:0px; padding-left:108px; text-indent:-12px; font-size:16px" align=justify>Financial Statements of business acquired</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin:0px; padding-left:96px; font-size:16px" align=justify>None.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; padding-left:108px; text-indent:-36px; font-size:16px" align=justify><I>(b)</I></P>
<P style="line-height:18.667px; margin:0px; padding-left:108px; text-indent:-12px; font-size:16px" align=justify><I>Pro Forma</I> Financial Information</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin:0px; padding-left:96px; font-size:16px" align=justify>None.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; padding-left:108px; text-indent:-36px; font-size:16px" align=justify>(c)</P>
<P style="line-height:18.667px; margin:0px; padding-left:108px; text-indent:-12px; font-size:16px" align=justify>Shell Company Transactions</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin:0px; padding-left:96px; font-size:16px" align=justify>None.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; padding-left:108px; text-indent:-36px; font-size:16px" align=justify>(d)</P>
<P style="line-height:18.667px; margin:0px; padding-left:108px; text-indent:-12px; font-size:16px" align=justify>Exhibits</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; padding-left:144px; text-indent:-48px; font-size:16px" align=justify>*10.1</P>
<P style="line-height:18.667px; margin:0px; padding-left:144px; font-size:16px" align=justify>First Amendment to Joint Development Agreement by and between Synthesis Energy Systems, Inc. and Ashmore Energy International dated September 26, 2007.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin:0px; padding-left:144px; text-indent:-48px; font-size:16px" align=justify>* Filed herewith</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
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<P style="line-height:18.667px; margin:0px; padding-left:48px; font-size:16px; page-break-before:always" align=center><B>SIGNATURE</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:16px; text-indent:48px; font-size:16px" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:48px; padding-left:336px; font-size:16px"><B>Synthesis Energy Systems, Inc.</B></P>
<TABLE style="font-size:13.333px" cellspacing=0 align=center><TR><TD width=329.933></TD><TD width=338.467></TD></TR>
<TR><TD valign=top width=329.933><P style="line-height:18.667px; margin:0px; font-size:16px">Dated: &nbsp;October 2, 2007</P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=338.467><P style="line-height:18.667px; margin:0px; font-size:16px" align=justify>/s/ Timothy E. Vail</P>
</TD></TR>
<TR><TD valign=top width=329.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=338.467><P style="line-height:18.667px; margin:0px; font-size:16px">Timothy E. Vail</P>
</TD></TR>
<TR><TD valign=top width=329.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=338.467><P style="line-height:18.667px; margin:0px; font-size:16px">President and Chief Executive Officer</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="line-height:18.667px; margin:0px; font-size:16px; page-break-before:always" align=center><B>Exhibit Index</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; font-size:16px" align=justify>*10.1</P>
<P style="line-height:18.667px; margin:0px; text-indent:96px; font-size:16px" align=justify>First Amendment to Joint Development Agreement by and between Synthesis Energy Systems, Inc. and Ashmore Energy International dated September 26, 2007.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:18.667px; margin:0px; padding-left:144px; text-indent:-144px; font-size:16px" align=justify>* Filed herewith</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
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_
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
Date of Report (Date of earliest event reported):  October 2, 2007 (September 26, 2007)
Synthesis Energy Systems, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)
001-33522
(Commission
File Number)
20-2110031
(I.R.S. Employer
Identification No.)
6330 West Loop South, Suite 300
Houston, Texas
(Address of principal executive offices)
77401
(
Zip Code)
(713) 579-0600
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[   ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14-2(b))
[   ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CRF 240.133-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On September 26, 2007, Synthesis Energy Systems, Inc., a Delaware corporation (the "Company"), entered into an amendment (the "Amendment") to the Joint Development Agreement between the Company and Ashmore Energy International dated July 10, 2007 (the "Agreement").  The Amendment allows the Company to terminate the Agreement if AEI has not purchased 1,750,000 shares of the Company's common stock on or prior to October 15, 2007.  The Amendment is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 9.01  Financial Statements and Exhibits
(a)
Financial Statements of business acquired
None.
(b)
Pro Forma
Financial Information
None.
(c)
Shell Company Transactions
None.
(d)
Exhibits
*10.1
First Amendment to Joint Development Agreement by and between Synthesis Energy Systems, Inc. and Ashmore Energy International dated September 26, 2007.
* Filed herewith
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Synthesis Energy Systems, Inc.
Dated:  October 2, 2007
/s/ Timothy E. Vail
Timothy E. Vail
President and Chief Executive Officer
Exhibit Index
*10.1
First Amendment to Joint Development Agreement by and between Synthesis Energy Systems, Inc. and Ashmore Energy International dated September 26, 2007.
* Filed herewith