Coro Energy Share Discussion Threads

[10owen] 16/10/2020 14:22

You may prove to be right Mr Z that's where I guess the risk/reward plays out.

I think the original coro deal valued the asset at slightly more than your number but not that much at 102m but of course since then the resource figures have been significantly increased and classified as the largest undeveloped gas resource in the region.

If your right I will lose money if not I make money.I am comfortable with my investment but not complacent enough to know that there are no sure fire things.

I guess from your comments your not invested so nothing for you to worry about but you are right this is not without risk.

[mrzippo] 16/10/2020 13:43

$40mm implies a gross asset value of around $270 mm for the discovery. Coro's original deal valued the asset at around $95 mm. Since then they have successfully appraised it, but I would think a value in this new world of $270 mm is pretty challenging.Coro need to sell for $25 mm as a minimum just to repay debt. Even then the equity value would be zero. Tough pisition.

[helpfull] 16/10/2020 13:40

People with shares to sell. Buyers of these shares today can expect a 50%+ dilution of their holdings when the necessary cash raise materializes. Someone is trying to reel in the mug punter. Don't get caught holding. Be careful.

[showmethemoneyhoney01] 16/10/2020 13:11

Sorry guys, this is my fault. I am invested in EME and the $20m was the figure I had in my mind conservatively for EME's holding. I have edited my post to $40m for Coro.

[blueblood] 16/10/2020 13:03

$20m for 15% yeah right lol.

[10owen] 16/10/2020 13:01

Mrzippo best conservative estimates more like 40m quid but time will tell.

[mrzippo] 16/10/2020 12:55

If they sell for $20 mill they will have a shortfall on debt repayment and assets in Italy which are a cost not a benefit. Equity value would be circa negative $7-$10 mill depending on how big a drain Italy is on cash flow. In that scenario share price is zero and the company would be bust.

[10owen] 16/10/2020 12:25

Curry/showme

I have picked up quite a few of these now and added another 500k earlier today.Risk/reward hopefully favours the brave .Gla.

[10owen] 16/10/2020 12:20

Yes curry I am.The asset is too good for interested parties not to want in.Its also in emes and coros interest to sell as we all know.Conrad too may well want to monetise this now rather than develop it .The big question I think is how much bidders are prepared to pay .But even conservative estimates from some of our learned friends on eme would give both coro and eme a good chunk of money which make a mockery of both companies current share prices.

[showmethemoneyhoney01] 16/10/2020 12:16

Just bought £4k worth earlier. I think the upside on a sale is huge at a £2m market cap including the company debt. Still holding EME but main driver there is China.

[showmethemoneyhoney01] 16/10/2020 12:15

Owen, I am being very cautious and expect the figure to be more in line with your thoughts.

[helpfull] 16/10/2020 12:07

There is no value in this share. The shutters have been put up. An investment of thousands of pounds has dwindled to hundreds. Couldn't get much lower could it? Don't be fooled. Even if Duyung was sold, and that is a very big if, any proceeds raised would be ring fenced to repay outstanding loans. The company has already signalled this by ousting the CEO and preserving cash to repay loan interest next March. That is what is the main interest of management is, not shareholder value. Oh and their remuneration of course. Cash is badly needed. The Italian assets couldn't be given away and remain with the company. It is a mistake to think because the share price has fallen so much, it cannot fall any further. There is no value here. Be careful.

[currypasty] 16/10/2020 12:00

are you confident a sale will happen, owen ?

[10owen] 16/10/2020 11:57

Showme eme are expecting more than 20m for an 8.5% stake .Coro have 15% .I would like to think they would have at least 20m left in the kitty after wiping out the debt.Time will tell .Let's hope Conrad are good negotiators.

[showmethemoneyhoney01] 16/10/2020 11:36

At a £2m market cap ( appreciate the re is debt ), what are peoples expectations market cap wise if a sale of Dugung comes in at say $40m?

[digger2779] 16/10/2020 11:35

Yeah guys. I bought in for duyung as couldn't believe how low the share price was at the time. It's more than 50% lower now despite top ups! As you probably know I am also suffering with EME and this waiting seems never ending.

[10owen] 16/10/2020 10:51

You won't need a pump and dump when duyung gets sold.Your sanity will be fully restored and a beaming smile will be on your face.I must admit waiting for the news is a pain but with any luck we should soon see the reward for taking risk.Gl.

[currypasty] 16/10/2020 10:50

or a sale of duyung, and leave with a profit?

[digger2779] 16/10/2020 10:31

Jeez. We need a pump and dump here so I can leave at a smaller loss than now and what's left of my sanity.

[digger2779] 06/10/2020 13:14

BOD too busy drawing salaries so got no time to promote this. The silence on duyung here and EME is deafening.

[blueblood] 06/10/2020 10:22

BoD don't do anything proactive to support sp

[nithbank] 05/10/2020 19:00

Surprised that there wasn't an RNS announcing this award.

[blueblood] 22/9/2020 08:49

Normal accounting statement required by Auditors. Sale of Duyung is only game in town and as long as it's done before Spring 21 we should be in good place financially!

[currypasty] 22/9/2020 08:45

digger, doesn't make sense.. why talk of raising money after, what about paying the 22m back?, or will the sale pay it back?


edit, surely accountants/auditors wouldn't have signed it off without a plan for such a large debt looming?