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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 Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.265 0.26 0.27 0.265 0.259 0.27 362,056 08:00:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -5.8 -0.7 - 6

Coro Energy Share Discussion Threads

Showing 2901 to 2925 of 3050 messages
Chat Pages: 122  121  120  119  118  117  116  115  114  113  112  111  Older
DateSubjectAuthorDiscuss
04/3/2021
11:25
johnswan193, Thanks for taking the effort to post the Q&A.
ride daice
04/3/2021
11:23
On behalf of myself and the rest of the team I would like to thank everyone for joining us today. Hopefully you will have seen that the forward path of Coro is very positive, bringing a strong project portfolio and leadership team to drive success. Our next step, once we have received approval in the GM will be to focus on our initial two projects in the Philippines whilst working alongside our partners in Duyung to achieve the milestones we have set for the year. Ion Ventures will also have strong news flow over the coming months and we are working with the team there to ensure we have visibility of the opportunities they are developing. Thank you for your questions today, we look forward to future engagement with you soon.
johnswan193
04/3/2021
11:23
ion Ventures have been in the news recently testing a new battery. Are you making progress with that pipeline? We are excited about the partnership, and look forward to more news from ion this year on their projects. We have a right of first refusal to invest directly in ion's South East Asian projects and our evaluation of those projects is ongoing
johnswan193
04/3/2021
11:22
I have no problem Mr Hood & Mr Carrington coming in as CEO and COO. The great Warren Buffett says what makes great companies is capable honest and dedicated managers. Can coro confirm that all managers/officers of the company will live up to Warren Buffett Standards? having just watched the Sky documentary "becoming Warren Buffet" I can say that the bench mark that Warren Buffet sets are those to which I aspire too and they will provide a guide for Mark and I to serve the company well
johnswan193
04/3/2021
11:20
How do you as directors think this Q&A session is going? What would the timeline be for any revenue stream from the renewables venture? Happy to engage with our shareholders at every opportunity and look forward to doing so more regularly, assuming the we receive approval in the GM. In terms of the revenue streams, we'll be updating all our investors as we progress the projects through the various stages of the project lifecycles.
johnswan193
04/3/2021
11:13
I got an email from iweb inviting me the chance to take part in the open offer. Why would anyone take part when the price is higher than the ask price?
wedgie74
04/3/2021
11:06
Anything to look forward to with Petronas and Malaysia? As we've mentioned, the business focus for Coro is on the transition into renewable and clean energy production and storage. The current portfolio allows us to bring in revenue generation through those opportunities.
johnswan193
04/3/2021
10:56
Question from Email - What are “screeningR21; projects. Do they have any monetary value that would justify this acquisition? Please refer to an earlier response regarding the value we see in GEPL and the logic for the acquisition
johnswan193
04/3/2021
10:54
Mark, what can you say to assure investors as your only previous leadership role was with a loss making company ? Having held leadership positions in BP and Cairn, the Board and I are confident in my ability to develop the organisation moving forward in the next stage of its energy transition. GEPL has been spending time devoted to developing a portfolio of projects which now require capital to progress further bringing in those returns.
johnswan193
04/3/2021
10:53
Question from Email - With regard to the acquisition of GEPL how have you valued this private company at over £550k? It was founded in 2019 and according to companies house has £136 in assets and liabilities of £2715. Are we in the business of rescuing insolvent companies? Please refer to an earlier response regarding the value we see in GEPL and the logic for the acquisition
johnswan193
04/3/2021
10:53
In relation to the bond debt restructuring at this time with interest rates at their lowest in recent history will Coro borrow more and if so by how much and for what purposes? We have not yet commenced discussions with bondholders, with maturity still more than 12 months away. Those conversations will happen later in the year. In terms of our overall capital structure, we review this regularly and consider wider market conditions as part of that review.
johnswan193
04/3/2021
10:53
Question from Email - Are the directors taking placing shares? I note they have very few already. The GEPL founders, who will join as CEO and COO respectively, will have a large equity participation post GM, with these being shares locked in for 18 months, which will align interests with those of other Coro shareholders. The rest of the Board is non executive and therefore not involved in the day to day operation of the company but of course contribute to the strategy, funding choices and key priorities amongst other things.
johnswan193
04/3/2021
10:52
Question from Email - Why did James Menzies leave? The reasons for James' departure were disclosed to shareholders last April when his departure was announced. With the company's strategy now focused on the energy transition and building a low carbon energy company, we are bringing in executives who we feel have the right skills and experience for delivering this strategy
johnswan193
04/3/2021
10:43
Question from Email - With regard to Mr Hood. As he is a co-founder of an insolvent private company I am perplexed that you will be appointing him as CEO of Coro Energy which after all is listed. All three private companies where he has been a director have been dissolved. Hardly inspiring. The Board and I believe I have the right blend of experience to lead the company going forward in combination with the existing Board. My experience spans leadership roles in clean energy and oil and gas and includes times at BP and Cairn Energy. Priority for the company is the ability to deliver the clean energy projects Coro have acquired. As with any CEO, I will be supported and guided by the Board of Directors who also have a breadth and depth of experience.
johnswan193
04/3/2021
10:42
Question from Email - How do you see news flow going forward? Our initial focus will be on 200MW projects in the Philippines - a 100MW solar and 100MW onshore wind. We intend to continue the planning and permitting processes for those two opportunities, and there will be news flow as we reach milestones in the planning process over the next 3 to 6 months. Alongside that we have the Duyung commercial milestones referenced in an earlier question, this includes the updated Plan of Development and signature of Gas Sales Agreement. We are continuing to work with ion Ventures on a number of initiatives, as well as ion maturing their own pipeline, so we look forward to updating the market on their progress. And finally, we intend to commence discussions with bondholders regarding a restructuring of our Eurobond obligations, and this will take place in the second half of 2021.
johnswan193
04/3/2021
10:41
Question from Email - Thirdly in view of the current high gas prices will this be reflected in high GSA values. The two previous GSAa with Sembcorp in 1999 & 2008 were valued at US$9 billion in total as per press releases. Ultimately the price is a negotiation however we would expect it to be heavily influenced by the spot price and also the forward curve, together with the buyers long term view. Singapore prices are likely to be Brent linked.
johnswan193
04/3/2021
10:41
Question from Email - Secondly why is the potential Duyung GSA in Q4 2021 considering that the HOA with Sembcorp was signed so long ago in 2020? Also will there be a second GSA with Jakarka as well as Singapore as mentioned by Dr Eliet in his interview in May 2020. As operator, Conrad leads on the GSA negotiations. We would imagine the past 12 months have presented a challenging backdrop for these negotiations given the fluctuation in commodity prices and inability to travel. We are seeing some stability in the market now and all parties are optimistic of an agreement being signed in 2021. Selling gas into both Singapore and Indonesia remains under consideration.
johnswan193
04/3/2021
10:41
It makes clear sense to keep the full 15% of Dyung to reap fabulous revenues/income. Basic maths says Coro's 15% share of 150mmcfd prod per day at $9mmcfd = nearly $74million in revenue per annum over at least 15 year field life potentially over 20 years with further drilling of deeper prospects. So will Coro keep its 15%? I won't comment on your specific numbers but we agree that the Duyung project has attractive commercial metrics. As I said in an earlier response, all options are on the table, including retaining our 15% interest through the development stage and into production
johnswan193
04/3/2021
10:40
Question from Email -His remuneration appears to be excessive which brings me to the question of his discretionary incentive bonus of 37,500,000 share options at 0.1p per ordinary share. Is that 0.1p in actual fact 1 penny, or one tenth of a penny or one hundredth of a penny? I ask this because the placing price for the open offer is 0.4p whereas it is 0.004p. All these decimal points get confusing when the share price drops over 95% and enters the realms of sub pence. Thanks for the question, please see earlier response regarding the LTIP scheme and the logic of the Remuneration Committee in designing the scheme in this way.
johnswan193
04/3/2021
10:40
What revenue/income will be derived from the GEPL acquistion on a per project basis? We'll update our shareholders as the projects progress.
johnswan193
04/3/2021
10:40
Question from Email - With regard to Duyung any idea when the GSA will be signed? Are you going for a partial sale or giving up a percentage to participate in the development? The operator is targeting signature of GSA later in 2021. As mentioned in an earlier response, all options remain on the table with regards to monetisation of our 15% interest.
johnswan193
04/3/2021
10:39
With the directors option incentive package set at such a low price( lower than the share price for the last few weeks). If that's all the company thinks it can aspire to, why should anyone invest? Thanks for the question - its important shareholders understand the design of the LTIP. The awards to the executives will only vest if the company's share price performs well against a peer group of 20 companies in the energy sector. There is an additional condition which says that none of the options will vest without the share price being at least 15% higher than the placing price. So if the company does not perform well against its peers, and the share price doesn't improve by at least 15%, the options will be worthless. We see this creating strong alignment between management and shareholders.
johnswan193
04/3/2021
10:39
Question from Email - The Duyung PSC is clearly a good asset. Why did you change from an oil and gas strategy to clean energy? The energy transition is undeniably already well underway, including in SE Asia. There will of course be a continuing role for gas as a bridge fuel due to its relatively low CO2 emissions when used in power generation compared to coal. The gas demand from SIngapore and elsewhere in the region really underpins the value of our Duyung asset and we are confident in the commercial potential of that project, which generates strong returns even at commodity prices much lower than we are seeing currently. We also see exciting opportunities in clean energy. The cost of deploying renewables has fallen significantly in the past 10 years and renewables are now cost competitive with fossil fuels in many countries. There is a recognised need for rapid deployment of renewables and energy storage to meet climate goals, and this will create a positive environment for investment in the sector. We also see opportunities for good returns in the sector for a small company like Coro by acquiring small developers/assets in their early stages, and adding value to projects through the initial development stages such as planning and permitting. This can lead to strong rates of return for individual projects without significant capital outlay. When projects are fully permitted, they are very attractive to debt and equity providers given the relatively low risks associated with construction and operation, and the positive ESG impact.
johnswan193
04/3/2021
10:39
Question from Email - Firstly will Conrad lead on the farm out in the short term of the Coro wi on Duyung PSC & if so, will Coro have any input or control of the farm out.? Is " short term " likely to be in Q1 ? Any decision to farm out or sell the Duyung PSC, either separately or together with the operator, would have to be subject to a RNS so I am afraid we cannot easily comment in the Q&A.
johnswan193
04/3/2021
10:38
Question from Email - If Duyung is to be sold outright at some point, why is Coro raising such alot of cash at such a low price? This fund raise enables us to continue to fund our share of cash calls through to a Final Investment Decision which is targeted for mid-2022. This provides optionality and at this stage we are keeping all options on the table - outright sale, farm-out and retaining our 15% interest through the development phase and into production
johnswan193
Chat Pages: 122  121  120  119  118  117  116  115  114  113  112  111  Older
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