Empyrean Energy Share Discussion Threads

[pacman9] 03/3/2022 15:15

Says is days lol.

[pacman9] 03/3/2022 15:14

Need 3-4 says JB. How's day 4 looking. Also do you have Nan Hai 220 on your tracking.

[toopoor] 03/3/2022 14:50

SHARE TIP

EVE SLEEP (EVE).

MARKET CAP £6m.

Has actual turnover and cash in bank unlike other Aim DUDS .

[jamesiebabie] 03/3/2022 14:48

FYI - the sea state is the best I've seen in the last few weeks; it should remain like this for the next 2-3 days.

[lazarus2010] 03/3/2022 13:38

Curry, has nothing to do with Conrad and does not release any news about GSA, actual valuations based on the GSA etc. It will be down to the Noteholders to do their own due diligence and determine if the asset is enough to back the Notes.

Also bear in mind 60mln Euro would leave c. 30mln Euro for Coro, which is c. 3.5 xs current market cap, or just over 1pps, without valuing the solar/renewable projects and potential

[currypasty] 03/3/2022 13:33

60 million euro, we can but dream


edit, i wonder if CORO had permission to say all that, or if they will be reprimanded or another ceo booted?

[lazarus2010] 03/3/2022 13:32

one of the significant takeaways is that Coro are confident enough to tell the Noteholders our 15% is worth in excess of the 22.5m euro, plus interest, plus an additional 20% of the remaining cash! That is upwards of 30mln Euro. The Noteholders would probably also like to see a valuation under current market of say anywhere between 50% and 100% more than the minimum amount to be paid out, which has to put Duyung at 45-60mln Euro imho.

[starzerus] 03/3/2022 13:28

maybe conrad and eme and coro will sell all of Duyung? i hope so as i am getting older ;-)

[currypasty] 03/3/2022 13:22

"In putting the Proposals to Noteholders the Company has agreed, subject to Noteholder approval of the Proposals at the Noteholder Meetings, that it will continue to actively pursue and support Conrad Asia Energy LTD, as the operator of the Duyung PSC, to pursue, the sale of the Duyung PSC asset."

[currypasty] 03/3/2022 13:19

good old CORO they have a plan (sounds like selling Duyung) ...

Can Tom tell us what we are doing with our share?

[blakieboy7] 03/3/2022 13:19

The GSA shouldn't be far off then!

[craig2016] 03/3/2022 13:18

CORO RNS


Proposed Bond Restructuring

 

Coro Energy, the South East Asian energy company focused on supporting the regional transition to a low carbon economy, is pleased to announce that following signature of non binding Heads of Terms with Lombard Odier Asset Management (Europe) Limited and positive and constructive discussions with certain other holders of the Company's Luxembourg listed EUR 22.5m 5.0% secured notes (the "Notes"), the Company has published its proposals (the "Proposals") in respect of a restructuring of the Notes and that a meeting of the holders of the Notes (the "Noteholders") has been convened to consider the Proposals for 10.00 a.m. (London Time) in respect of the Tranche A Notes and 10.15 a.m. or after the completion of the Tranche A Notes meeting (whichever is later) in respect of the Tranche B Notes on 25 March 2022 (the "Noteholder Meetings").

 

Pursuant to the Proposals, the Company is seeking Noteholder consent to:

 

· Extend the maturity of the Notes by two years to 12 April 2024 (the "Maturity Date"); 

 

· Remove all further cash interest payments on the Notes prior to the Maturity Date whilst increasing the coupon on the Notes to 10%; and

 

· In the event of a sale of the Company's interest in the Duyung PSC to utilise the net cash proceeds of such disposal(s) to first repay the capital and rolled up interest on the Notes and thereafter to distribute 20% of remaining net proceed(s) to Noteholders. The remaining net proceeds of any sales would be retained and / or distributed to shareholders by the Company.

 

If approved by the requisite majority of Noteholders at the Noteholder Meetings any and all interest on the Notes accruing from 12 April 2021, at the revised coupon of 10% per annum, shall be paid in cash on the Maturity Date save that Noteholders will be provided with the ability, from 12 July 2022, to elect to receive Note interest payments in respect of the immediately preceding quarter in new ordinary Shares in the Company ("Elections"), subject inter alia to the Company having the required share authorities in place from time to time to satisfy Elections and to Noteholders holding at least 50 per cent. of the Notes having made Elections in respect of the relevant quarter. Any new ordinary shares issued as a result of Elections will be issued at an effective issue price equal to the volume weighted average price of a Coro Energy ordinary share for the 10 Business Days before the relevant interest conversion date.

 

In putting the Proposals to Noteholders the Company has agreed, subject to Noteholder approval of the Proposals at the Noteholder Meetings, that it will continue to actively pursue and support Conrad Asia Energy LTD, as the operator of the Duyung PSC, to pursue, the sale of the Duyung PSC asset.

 

A copy of the circular today sent to Noteholders will shortly be available on the Company's website at www.coroenergyplc.com.

 

[starzerus] 03/3/2022 13:17

coro rns

In the event of a sale of the Company's interest in the Duyung PSC to utilise the net cash proceeds of such disposal(s) to first repay the capital and rolled up interest on the Notes and thereafter to distribute 20% of remaining net proceed(s) to Noteholders. The remaining net proceeds of any sales would be retained and / or distributed to shareholders by the Company.

[buzzzzzzzz] 03/3/2022 12:33

JB

LOL!!

[lazarus2010] 03/3/2022 12:10

FFFFrustrating this share innit!!

[currypasty] 03/3/2022 12:03

thanks Jamsie, so is it still weather dependant or are we just in a queue ?

btw, what is the sea forecast ?

[nametrade] 03/3/2022 10:53

TGA has been virtual…. Who said coal is out of favour..!

[birotop] 03/3/2022 10:38

If you want to see vertical checkout PANR…

[cashandcard] 03/3/2022 10:30

Jamesie,Let us know when it's 'ship ahoy' time.Cash

[jamesiebabie] 03/3/2022 10:28

curry - there are no other vessels in the vicinity of Jade, irrespective of whether or not it is a survey vessel.

Here's a screenshot with ALL vessels.

[judijudi] 03/3/2022 10:18

Laz,
😂🤣
Amended

[lazarus2010] 03/3/2022 09:50

That's a long name for a pint JJ, I doubt it will catch on ;-0

[currypasty] 03/3/2022 09:50

perhaps we are in the middle of a survey with a yet unknown vessel.. Tom isn't going to rns it until its done, imo

[judijudi] 03/3/2022 09:46

JB
I’m not saying 721 is ours
In fact I think that’s it’s probably not
I’m just saying you said there were “a lot of survey vessels about”
My point is If that’s the case why hasn’t EME got one out there?