SES Synthesis Energy Systems Inc

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * PAULSON & CO. INC.	2. Issuer Name and Ticker or Trading Symbol SYNTHESIS ENERGY SYSTEMS INC [ SYMX ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                    __X__ 10% Owner _____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle) 1133 AVENUE OF THE AMERICAS, 33RD FLOOR	3. Date of Earliest Transaction (MM/DD/YYYY) 10/15/2019
(Street) NEW YORK, NY 10036 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/15/2019		X		15625	A	$6	171875	I	(1) (1)
Common Stock	10/15/2019		S(2)		6227	D	$15.0534	165648	I	(1) (1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants	$6 (3)	10/15/2019		X			15625	10/24/2017	10/24/2022	Common Stock	15625	$0	0	I	(1) (1)

Explanation of Responses:
(1)	Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940, as amended. Paulson is the investment manager of an investment fund (the "Fund"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Fund. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Fund. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.
(2)	On October 15, 2019, the reporting person exercised warrants to purchase 15,625 shares of the issuer's commons stock. The reporting person paid the exercise price on a cashless basis, resulting in the issuer withholding 6,227 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 9,398 shares of common stock.
(3)	In October 2019, the exercise price of the warrant was adjusted to $6.00.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
PAULSON & CO. INC. 1133 AVENUE OF THE AMERICAS 33RD FLOOR NEW YORK, NY 10036		X

Signatures
/s/ Stuart L. Merzer, General Counsel & Chief Compliance Officer for Paulson & Co. Inc.		10/21/2019
**Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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