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CORO Coro Energy Plc

0.145
0.00 (0.00%)
18 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Coro Energy Plc LSE:CORO London Ordinary Share GB00BDCFP425 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.145 5,989,898 08:00:00
Bid Price Offer Price High Price Low Price Open Price
0.14 0.15 0.145 0.145 0.145
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Natural Gas Liquids USD 6.71M USD -4.12M USD -0.0014 -1.00 4.01M
Last Trade Time Trade Type Trade Size Trade Price Currency
12:41:53 O 2,500,000 0.1422 GBX

Coro Energy (CORO) Latest News

Coro Energy (CORO) Discussions and Chat

Coro Energy Forums and Chat

Date Time Title Posts
16/4/202416:20CORO ENERGY PLC - SOU35,321
15/4/202417:28Good newz443
13/4/202418:55CORO. Renewables264
02/3/202420:36CORO .... READY FOR LIFT OFF !!!!306
27/5/202107:16Coro Energy at the UK Investors Show2

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Coro Energy (CORO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-04-18 11:41:540.142,500,0003,555.00O
2024-04-18 10:28:110.158001.20O
2024-04-18 10:28:110.141,2001.68O
2024-04-18 10:28:110.143,6445.10O
2024-04-18 10:28:110.1450,27270.38O

Coro Energy (CORO) Top Chat Posts

Top Posts
Posted at 18/4/2024 09:20 by Coro Energy Daily Update
Coro Energy Plc is listed in the Natural Gas Liquids sector of the London Stock Exchange with ticker CORO. The last closing price for Coro Energy was 0.15p.
Coro Energy currently has 2,866,858,784 shares in issue. The market capitalisation of Coro Energy is £4,013,602.
Coro Energy has a price to earnings ratio (PE ratio) of -1.00.
This morning CORO shares opened at 0.15p
Posted at 16/4/2024 09:59 by jason90
I would also like to see Capton Energy align strategically with Coro (Check out Capton Energy website). That would show significant confidence with Coro as a key player for renewables transition in ASEAN. We have seen numerous Twitter posts by Coro recently around the need for more renewables in Asia. And more investment coming into to fund these projects.

Let's hope Coro's grand masterplan works. It's now due.
Posted at 13/4/2024 16:17 by pavey ark
Hi The Sage,I spotted you post on the other board but as Coro's involvement in the Philippines is entirely based on renewables I thought it okay to reply here. I don't know what your specific complaint is but things have moved along here at a good pace and certainly at warp speed compared to Duyung.Coro is moving on with 4 ×100 Mw projects and the total RTB value could be as much as $80m ...the met mast data alone is very valuable.The Philippines is a major coal burning country with little in the way of "clean power" ......there are plenty of "green dollars " available for the development of these projects so Coro's data and permissions are very valuable........international pressure to reduce the amount of coal burned.The company has spent a great deal of time , effort and money getting to this very good place in the Philippines.....contacts made......reputation made.....I for one think that there is serious cash to be made here."More and better investment opportunities elsewhere".....???????????
Posted at 12/4/2024 20:54 by jason90
Thanks Pavey.

Just out of interest.. you mention that the Duyung asset is worth $40-50m to Coro.

Forgive me if I am wrong, but I thought Duyung NPV was at least $80m? Plus when you look at the current Brent Crude Oil price, then surely the Duyung NPV should be inflated even further?

Ok, so the new gas reserve estimate for Coro has been reduced recently (by about 15%)

That still gives an NPV over $70 million. (Am I right?)

And at least the renewables (as you quite rightly say Pavey) are being very well developed, so Coro clearly see a positive path forward here..

I have done a little research around companies doing gas sales in Indonesia over the years. Many (BIG) players have pulled out previously because of the political bureaucracy and red tape. But it appears Conrad are getting over the final hurdles (fingers tightly crossed), albeit it has taken far,far longer than hoped or anticipated. But we are where we are, and we are inching ever closer to this deal being finalised to supply much needed gas to Singapore and Indonesia. (Don't forget the Keppel Jurong plant being built by Sembcorp, to be ready by 2026).

Now, Coro may be offered to sell enough of their Duyung stake up front to pay off the $30m loan, which would be a result, and then keep the remaining stake so they can receive regular gas sales payments over so many years.. (I am no expert at these things, as I am sure there are many complexities involved in such a transaction.)

There has also been mention of 'Drag and Tag Clauses', which I will be honest, would like someone to kindly explain what that could look like.

Thanks.
Posted at 12/4/2024 19:33 by odillon
Just to draw out the term about inflexions points referred to by Steelwatch.

The standstill is in place to continue negotiations and;

"whilst certain inflexion points in the business materialise, including the outcome of the Duyung Operator's farm out process."

There is a Sword of Damocles, as Coro point out that the standstill agreement can be withdrawn by the creditors at any time. But putting Coro to the sword would not be constructive when they can for-see a near future improvement in Coro's fortunes via Duyung e.g.

I think the all parties need to appoint a Concluder to put shareholders out of the misery of the various Waiting for Godot negotiations dragging on and on. It's Duyung my head in.
Posted at 11/3/2024 08:17 by pavey ark
I'm sure that investors who know ANYTHING about Coro and the excellent progress they are making in renewables in SE Asia will know that they always update on WESCs as they are very important.

The importance here is that they are progressing a second large wind farm project and that their existing met mast will provide the essential wind data for this second project.

The met mast data is very valuable for ONE project so to be providing data for TWO projects obviously makes it even more valuable.

Any market reaction in the Coro share price is absolutely dominated by Duyung and people with little knowledge or understanding of, or interest in, the value of Coro Renewables.
Posted at 01/3/2024 11:52 by begorrah88
It's beginning to smell of an upcoming fund raiser to me.Someone is constantly dumping chunks of stock & the share price gives the impression it knows more is coming. Before the lumpy & consistent sells started on Weds, when the bid was .22 you couldn't even get a price to sell, it was very odd. Then a load of consistent & chunky dumping started, which has taken the bid down 35%+ and it has been continuing since.The debt is due in next month, Tom Richardson's only known trait is debt deals (and never good ones at any of his previous companies) & the recent presentation intimating a Q1 GSA along with yesterdays unprompted & strangely timed RNS smack of trying to massage the share price up for some 'forward selling' into.Hope I'm wrong or that if we do get a raise it spurs the share price on like it did at EME but at the moment we are giving back all the gains very quickly & someone is dumping heavy on the cusp of a GSA. - doesn't quite add up to me.
Posted at 25/1/2024 17:23 by pavey ark
Not wanting to get into another bun fight here but a bit depressing to see posts elsewhere completely ignoring any positive news on renewables.

As I type renewables are at least as valuable as even the most positive outcome from Duyung......that is 15% of Duyung sold and debt paid.

As the renewable programme moves on the difference becomes even greater.

The most recent news has been that a Vietnamese bank is willing to provide up to c.$17m finance (50% in stages) for Coro to install solar panels across 900 sites in Vietnam.
The first 9 site pilot is to cost c.$300k then if this proves the project they will move ahead with the rest to a total of 50MW......this is a $33m-$35m deal.

The target for Coro is 150MW installed in Vietnam.

Then we have the very important and large investor Capton. This deal still being negotiated but Capton are very interested in buying into Coro's Vietnam operation !!!

Another rather technical point announced recently is that their Philippine met mast will provide data that is applicable to more than one wind farm site .....this data is essential for any wind farm project and is therefore very valuable.
Coro also have 12 months LIDAR data so they have all the data that ANY investor would demand before financing the projects.....even if Coro don't build the wind farms this data is worth millions.

Then we have the Philippine 100MW solar farm....doesn't need the same data but complicated land deal leases etc ...should be moving along and must be RTB in a few months ??!!

At RTB stage on any of the Philippine projects Coro would have the opportunity to sell the site with all permissions etc.....no info/hints have been given but at this stage ,and Duyung taking forever, the temptation would be there.

The Philippine solar would be the first to reach RTB and could be sold for $15m-$20m
This is a $100m project so the value here is getting it handed to you absolutely ready to go.
The wind projects are $175m each so the value of all Coro's data and permissions is even more obvious.
Posted at 17/1/2024 22:36 by pavey ark
man1, no the mobile world deal and the Capton deal are not one and the same but look to be rather closely related.Capton come to CORO and say that they are interested in investing in Coro's Vietnam solar "The funding proposal received is for Capton to buy into Coro's current Vietnamese solar projects and provide investment into Coro's project pipeline of up to 50 megawatts" 3/8/23

Mobile World 10/10/23
"the potential to install 360MW of rooftop solar across all locations. The MoU grants Coro exclusivity on an initial 900 company sites (estimated at 50MW of rooftop solar capacity).
(Mobile World obviously think that Coro have the means to install solar on a large number of sites)

Vietnam renewables restructuring 24/11/23

Their Vietnam partner agrees to a reduction in their holding .....smaller share of a much bigger business?

Capton will have spent money on doing due diligence and as far as we know the deal is still "live" as is the mobile world deal.

The company haven't stated that the deals are related but I'm not sure Coro could go into a deal the size of the world Mobile deal without being confident they can get financial backing ....whither this backing comes from Capton is the question but things do seem to be lined up.

A few facts from company announcements and a bit of guesswork by myself !!!
Posted at 23/11/2023 09:17 by pavey ark
I wouldn't hold your breath....this could be the deal of the decade and I doubt if it would make any difference to the share price.

There are any number of current shareholders who absolutely refuse to see ANY value in renewables.
The only way forward for the share price is to get Duyung over with and a big change in the shareholder base.

On a more positive (less depressing) note is that the current share price totally and completely ignores the massive value (current and potential)in the renewable side and is totally focussed on the never ending soap opera that is Conrad and the Duyung negotiations......opportunity !!??

Give Duyung away for the debt....call yourself "Coro: SE asian renewables"and the share price doubles immediately (at least) and a long orderly queue form outside your door with people wanting to give you money.......with Duyung ..all that debt..messy (stalled) negotiations ....not so sweet.

EDIT: I will obviously take all the gold anyone is willing to throw at DUYUNG !!!
Posted at 22/11/2023 21:15 by pavey ark
10owen, rather more confident that Coro and Michael Carrington can deliver ....as they have in the past.
Coro has absolutely no control/input at Duyung ...it's all down to Conrad.

The Capton Energy deal looks rather linked to the recent Mobile World "estimated at 50MW of rooftop solar capacity"
Capton Energy: "The funding proposal received is for Capton to buy into Coro's current Vietnamese solar projects and provide investment into Coro's project pipeline of up to 50 megawatts"

Coro does have a large pipeline of solar deals so perhaps not a direct connection with World Mobile but given the recent data coming out of SE Asia and the need/desire for renewable energy Capton is unlikely to be the only source of capital.....but I'm sure they are very interested.

One last point: I can't see Coro going chasing new 50MW deals without lining up the capital.....they have enough existing projects to go one at a time 3Mw-4Mw....so 50 MW suggests to me that things are moving along.
Coro Energy share price data is direct from the London Stock Exchange

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