Coro Energy Share Discussion Threads

[currypasty] 15/2/2019 16:55

I don't know where he is coming from. The average cost over the 3 year period is 12.5%. Where else can a tiny AIM oiler get that sort of cash from at that rate.

Its either debt, or issue confetti with massive dilution. I don't think they would have had a chance of raising that cash from equity at half the shareprice.

[sandcrab2] 15/2/2019 16:35

What's all this about death spiral financing with the Eurobond?

[currypasty] 15/2/2019 16:16

Dan levi, credibility.....lol

[soultrading] 15/2/2019 15:02

Is there any credibility to this placing rumor?

[apfindley] 15/2/2019 10:57

There are always huge placings on EVERY stock which the twitter Pumper group promote. They take part in the placings, so end up benefitting both ways, by pumping up the pre placing price and opening a short from which they're guaranteed to profit from as the price collapses to the placing price. And thrn they will still hold their "wholesale" price placing stock. Win-Win for them, but Lose-Lose for the lemmings which followed their pump but failed to exit.

[geordy2] 15/2/2019 10:33

Extract from today's newsletter "Finding Petroleum"

Over the last 6 months or so, I have heard some (typically bigger) oil & gas companies referred to as ‘Leaders’; and others – typically smaller-to-medium sized E&Ps – referred to as ‘Laggards̵7;.

What does a company need to do to ‘qualify’; as the latter?

As far as I can tell, there are 3 broad reasons, the first two of which can be discerned from information that can be found in Annual Reports:
1. Having potentially unsustainable amounts of Debt (or having diluted equity investors by frequent returns to them for more capital).
2. Enjoying Executive Remuneration that is not justified by Performance – indeed perhaps depends on and is funded by 1.
3. Appearing to be uninterested in Sustainability – as evidenced by not reporting openly on GHG Emissions, environmental ‘footprintR17;, social & community impact, corruption contamination……..
One, two or all of these seem to be in the minds of different groups – investors, investment advisors, activists.

But let’s start by thinking about the ‘digital generation’ whom these companies aspire to hire. Why would they (you!) join a ‘Laggard’; company where the CEO thinks it’s OK to earn 25+ times what you will earn? And where they trample all over the environment as well?

And if you’re an investor, why would you want your money to be in a ‘Laggard’; company as opposed to one of the ‘Leaders’;?

Perhaps if a ‘Laggard’; has a decent asset or two but is atrophying under the impact of some or all of 1., 2., and 3, maybe one of the cash-rich ‘Leaders’; is going to come along and gobble it up, but not at any sort of premium, the house being made of straw or sticks?? Perhaps a new period of consolidation is dawning…..

I think my colleagues at Kimmeridge Energy are right to make the case for Zero-Premium Mergers but not only in the US Onshore.

I’m making a little list!

David Bamford

[daniel levi bmd] 15/2/2019 10:17

FYI


Coro Energy £10M-£20M Placing! It's A Shambles!


Dan
x

[currypasty] 14/2/2019 08:43

cheers steel, seems to have done the trick up 5%

[steelwatch] 13/2/2019 18:08

There was a Q&A session today if you weren't aware:



Simple registration and log-in required.

[jagzoil] 12/2/2019 15:19

Do one - criminal

[daniel levi bmd] 12/2/2019 15:18

FYI

Andalas Energy & Power. Honesty Is The Best Policy! Hold For Colter

Dan
x

[stewart4980] 12/2/2019 14:55

Thought about buying a few here but not much enthusiasm as I would have thought with Mako and director buys at 2.5p hmmn, still may add later today

[shiv1986] 12/2/2019 08:50

Have you seen the poll on the ADVFN twitter about Coro?

[currypasty] 12/2/2019 08:31

CORO interview, drilling summer

[soulsauce] 11/2/2019 21:24

Cheers Curry much appreciated.

[currypasty] 11/2/2019 21:23

soul, purchase funded by issue of bonds

"Coro is pleased to announce that it has agreed subscription and underwriting commitments with key institutional investors Lombard Odier Asset Management (Europe) Limited and Pegasus Alternative Fund Ltd (SAC) (together "Institutional Investors") to subscribe for and underwrite, respectively, a minimum issue of EUR22.5 MM Eurobonds to fund the acquisition of a 15% interest in the Duyung PSC that was announced separately today, as well as general corporate and administrative expenses."

[soulsauce] 11/2/2019 20:46

Thanks Jag but did they only have £16.1m initially so how does that work out. Thanks in advance.

[jagzoil] 11/2/2019 20:44

It's €, and no, they have funds to see them through until post drilling.

[soulsauce] 11/2/2019 19:14

Having committed approx $22m to the two SE Asia licences (Lengo & Duyung) aren't they leaving themselves a little light on funds?